Abstract. This article reviews Russian and Chinese trade with five countries of Central Asia (CA5) with the purpose to find out if there is any competition between Russia and China for this market.  Analysis of trade flows in this triangle has revealed that CA5 are important markets for export of Russia’s manufactured goods, especially investment ones. At the same time Russia is also an important market for CA5’s export of their manufactured goods. While several Central Asian countries are an important source of raw materials for China, in general they have only a tiny share in China’s trade. Rapid growth of trade between China and CA5 is basically connected with a general growth of China’s exports and an increase of imports of raw materials from these countries. A slow progress in trade between Russia and CA5 is caused not by a competition with Chinese goods but mainly by stagnation of Russia’s own economy which does not generate additional demand for CA5’s products. On their behalf the CA5 countries are unable to expand their imports from Russia since their export revenues do not grow.