Development of Foreign Trade Relations Between Russia and China in the Formation of a New World Economic Order

Abstract

Investigating the trends in the development of trade relations between Russia and China and forecasting their future in light of the transformation of international relations, the research considers the openness of the economies of both countries to active cooperation and the development of digitization as a driver of their development. The research methodology includes system analysis, general scientific methods, economic-mathematical analysis, comparative analysis, dynamic research methods, correlation-regression analysis, forecasting methods, and strategic analysis. The research objects are Russia and China. The trade turnover between Russia and China has shown a stable growth tendency. In recent years, China has been the top trading partner of Russia. In turn, Russia has been in the top 10 countries of China’s trading partners since 2021. The cooperation between the Federal Customs Service of Russia and the General Customs Administration of China is a key driver in trade relations. The effective use of digital technologies in the activities of customs authorities contributes to the intensity of their development. The analysis of the trade relations between Russia and China has shown a consistent and positive development in the past and the foreseeable future. One of the factors contributing to this growth is the synchronized economic progress between the two nations, the degree of their openness to foreign economic dialogue, and the strengthening of cooperation between the Federal Customs Service of Russia and the General Customs Administration of China. Furthermore, implementing digital technologies has significantly enhanced customs operations and fostered an expansion in trade volume between Russia and China. This integration of intelligent technologies has facilitated the intellectualization of customs procedures and contributed to the growth of bilateral trade turnover.