China-Russia Economic Ties: Restaurant in St. Petersburg finds opportunity in China

World
Europe

02:25

Business exchanges between Russia and China are on the rise as ties between the two countries grow stronger. Ahead of this week's 2018 St. Petersburg International Economic Forum, CGTN's Zheng Yibing visited one local Russian restaurant that's serving more than just tasty food.

At Ketch Up Burgers, a famous restaurant in St. Petersburg, visitors find plenty of things to eat. The shop owner recently decided he, too, was hungry but for something entirely different, expanding his business to China.

ANDREY SHKILEV OWNER OF KETCH UP BURGERS "Over the past six months, we've been to China three times already. We see there are very good economic conditions."

He decided to open a restaurant in an industrial park for Russians in Xi'an, the eastern departure point of the ancient Silk Road, and a hub linking countries on the Eurasian continent.

ANDREY SHKILEV OWNER OF KETCH UP BURGERS "In Russia, conditions are harder, first and foremost for financial reasons, due to western sanctions. Therefore everyone is looking for new ways of development for their business."

For him, a free market without barriers is promising and worth pursuing.

ZHENG YIBING ST. PETERSBURG "The Russian restaurant is just one example of expanding ties between the two nations. Among the many Chinese doing business here, we see signs of reciprocal business and trade, as well as the sound development of the Russian economy."

These two businessmen have been in Russia for more than a decade and witnessed profound changes.

ZHANG CHUHANG, CHAIRMAN ST. PETERSBURG CHINA-RUSSIA YOUNG ENTREPRENEURSHIP ASSOCIATION "The new links between China and Russia provide a good platform for all. It increases understanding and opens markets."

Trade between Russia and China in 2017 surpassed 84 billion dollars, an increase of more than 20 percent from a year earlier. And Russia's prime minister has indicated the two sides hope to double it to $200 billion in the coming years.

TAN QIHUI, CHAIRMAN INTERNATIONAL INNOVATION CENTER IN ST. PETERSBURG "Through the convenience provided by the new Silk Road, particularly the infrastructure like railway, there are many exchanges of goods between the two countries."

Back at Ketch Up Burgers, Andrey hopes new opportunities will help expand his business. ZHENG YIBING, CGTN, ST. PETERSBURG.