Xi underscores importance of Beijing’s growing ties with Russia

Chinese President Xi Jinping says Moscow and Beijing are determined to promote cooperation, saying closer ties are the most important step for the two big powers.

Speaking at the Moscow State Institute for International Relations on Friday, Xi urged Russia to work closer with China on foreign policy issues, which are strategic and should safeguard international fairness.

“Strong Chinese-Russian relations…not only answer to our interests but also serve as an important, reliable guarantee of an international strategic balance and peace,” said Xi.

The Chinese president said that Beijing and Moscow had similar positions on key international and regional issues, and that the internal affairs of a country should be addressed by its own government.

“President Putin and I have agreed to identify expanding practical cooperation in various fields as a priority in the development of bilateral ties so as to provide an important driving force of improving the living standards of both peoples,” said Xi.

Xi also warned other nations to stop pushing policies reminiscent of the Cold War-era, considering it finished decades ago.

Meanwhile, Russian President Vladimir Putin called for expansion of cooperation between the two countries.

The two sides signed an agreement on oil supplies and discussed investment deals.

Putin expressed hope that the two countries would boost the value of bilateral trade to USD 150 billion a year from the current USD 88 billion.