28 March 2012, 00:00
Before 2008, Russia is the largest exporting destination of Chinese construction machinery. However, the declined oil prices significantly reduced the foreign exchange earnings, meanwhile; some of the leading oil and gas companies in Russia were controlled by financial predators and lost their power in options. Therefore, since the second half of 2009, the import from Russian to china dropped 80%.
Nevertheless, with the stability of oil price and the ironfist conduct policy from the Russian government, Russian’s purchasing power has been restored; forway seized this opportunity and actively contacted with the local agent, finally, we successfully obtained the new orders in the time of Russia’s accession the WTO. At present, the shipment is very stable.
We optimistically expect that with the cooperation of several high-quality agents, the total volume and value of Forway’s construction machinery export to Russia will exceed highest point in 2008 and rise to a historical new high.