The number increased from $8 bln to $104 bln by the end of 2020
MOSCOW, June 1. /TASS/. The Treaty on Good Neighborliness, Friendship, and Cooperation between Russia and China plays a significant role in accelerating trade and economic interaction between the countries; over the 20 years of its existence, the trade between Russia and China has grown 13-fold, Russian Foreign Minister Sergey Lavrov said on Tuesday. The treaty plays a significant role in accelerating trade and economic cooperation. We have something to show to the public. Over the past 20 years, mutual trade has increased 13-fold from $8 bln to $104 bln by the end of 2020. Today, work on 70 projects totaling over $120 bln continues through the Intergovernmental Commission on Investment Cooperation, the minister said.
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Australia stands ready to take back two key ports from Chinese investors if any security concerns are raised, Scott Morrison said.
The Port of Newcastle, the world s biggest coal port, was handed over to a Chinese-backed consortium for 98 years for $1.75 billion when Mike Baird was NSW Premier in 2014.
And Darwin Port is run by Chinese company Landbridge Group, which secured a 99-year lease from the Northern Territory government in 2015 for just $506 million.
In November 2015, the Northern Territory government decided to lease the Port of Darwin (pictured) to a Chinese company for 99 years
Pressure is mounting on the federal government to take back key infrastructure from Chinese control as relations with Beijing hit a new low.