32 C
Friday, July 19, 2024

Chinese Firms Look To Cash In On Western Exodus From Russia

- Advertisement -
- Advertisement -

Moscow, March 29 (IANS) Chinese small and medium-sized companies are exploring opportunities in the Russian market that have become available with the exit of many Western firms, the South China Morning Post reported on Tuesday.

“Chinese companies in some niche sectors will especially benefit from the EU and US (companies) leaving Russian markets, such as in auto parts, foods, medical supplies and infrastructure components,” said Zhuang Bo, a China economist at investment firm Loomis, Sayles & Company, as quoted by SCMP, RT reported.

- Advertisement -

The analyst added that the entry of Chinese businesses into the Russian market is expected to create a major impetus for mutual trade between the two countries.

“Trade between the two countries will most definitely increase in size in the next couple of years, and the pace will pick up as well,” Zhuang said.

The exodus of Western businesses from Russia has led to an imbalance of supply and demand, undoubtedly generating new business opportunities, the president of the Federation of Overseas Chinese in Moscow, Wang Chuanbao, was quoted by media as having said.

“We will actively assist incoming Chinese companies in studying and collaborating with the Russian market, as well as explore ways to work with Russian companies under the backdrop of the Belt and Road strategic development,” Wang said.

- Advertisement -
The Hills Times
The Hills Timeshttps://www.thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -