China's Ministry of Commerce said on Wednesday that the trade volume between China and Russia was $29.1 billion in 2005, registering a rise of 37.1 percent compared to last year.

China has now become Russia's fourth largest trade partner, whereas Russia is China's eighth largest trade partner, the ministry said.

Export of Chinese machinery and electronic goods to Russia for the first 11 months of 2005, went up 70 percent, contributing 24 percent of China's total export to Russia,

Export of high-tech products by China to Russia grew by 58 percent, amounting to 7 percent of total exports to Russia, for the same period.

Chinese apparel and footwear remain the major exports to Russia.

For the first nine months of 2005, China won Russian contracts worth $368 million, twice that in 2004.

Presently 750 investment projects worth $1.05 have been under taken in Russia by China.

Border trade between the two countries was $5.13 billion, a growth of 35 percent, contributing nearly 20 percent of total trade, for the period January-November 2005.

Fibre2fashion.com