Beijing, 24th Jun 2016 – Russian President Vladimir Putin arrived on a State visit to China on Saturday. Both nations are facing instability in their domestic economies and strained relationship with western countries on the international front. This makes this visit very significant. Sources inform President Putin visit to China has come about at the special invitation of the Chinese President Xi Jinping.
Putin began his tour of China with the words, ‘the close knit relationship between Russia and China is a representation of their mutual ties and close official partnership’.
Xi Jinping stressed the need to promote the existing friendship between the two countries to further strengthen their relationship. This is the second meeting between the Presidents of China and Russia in the past 48 hours. Just prior to this the two leaders met, at the conference of ‘Shanghai Cooperation Organisation’ at Tashkent on Thursday.
Upon his arrival Putin held talks with the Chinese Prime Minister Li Keqiang and senior leader of the ruling Communist Party, Xang Dejiang. A large delegation has accompanied the Russian President which includes Russia’s Deputy Prime Minister, the head honchos of energy giants Rosneft and Gazprom and other big industrialists. President Putin and the Russian delegation held discussions on various topics with Chinese officials under the supervision of Prime Minister Li Keqiang. This was succeeded by discussions on bilateral issues between the two Presidents.
Following the bilateral talks held between the two leaders on Saturday, it was announced that 30 cooperative agreements have been signed between the two countries. Sources from both nations confirm that the agreements are worth billions of dollars. The agreements cover finance, business, infrastructure services, energy, financial transactions, foreign cooperation, scientific technology and research, agriculture, media, Internet and sports related fields. As per claims of the Russian sources, agreements for the emerging ‘high speed railway’ in Russia and setting up of a grand centre for paddy trade are included.
Trade between the two countries is currently estimated at about 100 Billion Dollars, and both nations are targeting to double it in the next few years. For this reason, increased cooperation in the fields of energy, infrastructure services and agriculture is being particularly emphasised.
In the preceding years ambitious agreements valued at over 500 billion Dollars have been made between the two nations. But there has been delay in the fruition of these agreements due to the detailed trade negotiations being done by China. Russia too had taken a cautious stance on the implementation of the agreements considering China’s increasing power on the world stage.