How has bilateral trade between Russia and Malaysia grown in the past year?

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Bilateral Trade Between Russia and Malaysia Saw a 12.9 Per Cent Increase Last Year

Bilateral trade between Russia and Malaysia experienced a growth of 12.9 per cent in the past year. This increase was highlighted by Russian President Vladimir Putin during a meeting with the Malaysian delegation led by Prime Minister Datuk Seri Anwar Ibrahim at the ASEAN-Russia Commemorative Summit in Kazan.
Trade Growth Figures Announced

The specific figure of a 12.9 per cent increase in bilateral trade was confirmed by President Putin. He described this result as "very encouraging" in his address during the summit, according to the transcript published on the Kremlin's official website. This growth occurred in the context of preparations for the 60th anniversary of diplomatic relations between the two nations, which is set to be marked next year.
Broader Diplomatic Engagement

This trade increase is situated within a period of heightened diplomatic engagement between Malaysia and Russia. The Russian Ambassador to Malaysia, Naiyl Latypov, noted that the royal diplomacy of Malaysia's King, Sultan Ibrahim, has significantly elevated bilateral ties. Sultan Ibrahim's state visit to Russia in August last year, the first by a Malaysian King since relations began in 1967, and subsequent visits have been credited with bringing the two countries closer.
Key Trade Components

While the overall trade volume increased, the primary exports from Malaysia to Russia include electrical and electronic products, machinery, equipment and parts, and processed food products. Conversely, Malaysia's principal imports from Russia consist of petroleum products, minerals, and chemicals and chemical-based products. These components form the basis of the economic exchange between the two nations.

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How has bilateral trade between Russia and Malaysia grown in the past year?

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