The
strategic ties between China and Russia are mutually beneficial and based on
trust and a tradition of supporting one another, said Chinese Foreign Minister
Wang Yi, emphasizing that the cooperation is mature and not targeted at third
parties.
Describing
China-Russia bilateral relations as stable and mature, the Chinese Foreign
Minister has stated that Western political and economic pressure on Moscow will
not affect mutual cooperation.
“The
China-Russia relationship is not dictated by international vicissitudes and
does not target any third party,” Wang
Yi said at a press conference Sunday, in response to a question from Russia’s
Sputnik news agency.
“The
practical cooperation between China and Russia is based on mutual need, it
seeks win-win results and has enormous internal impetus and room for
expansion,” Yi
said, adding that as “comprehensive
strategic partners of coordination, China and Russia have a good tradition of
supporting each other.”
The
Chinese minister also stressed the historic importance of trust that has
developed between the two nations, and the need for both states to coordinate
efforts to insure international stability – particularly through the UN
Security Council, where they earlier used their veto powers to block
questionable Western initiatives.
“China
and Russia are both permanent members of the United Nations Security Council,” he
said. “We will continue to
carry out strategic coordination and cooperation to maintain international
peace and security.”
China
plans to step up its trading volume with Russia, which Wang Yi said may reach
$100 billion in 2015, compared to US$95.3 billion last year. “We will do our best so that the
bilateral trade reaches our goal of $100 billion, we will sign an agreement on
cooperation in the area of the Silk Route’s Economic Belt,” he added.
He
also noted that Beijing is ready to cooperate with Russia on all fronts, such
as the high speed railways construction, aviation, energy, as well as financial
sectors.
“We
will develop and deepen our cooperation in the financial and banking areas, in
the area of nuclear energy, oilfields,” Yi said,
noting that this year the construction of the “eastern” gas
supplies route to China
will intensify, while the states are finalizing the details of the “western” route.
Chinese
President Xi Jinping and his Russian counterpart Vladimir Putin met five times
last year and have a close personal relationship.
Additionally,
Russia and China were instrumental last year in establishing $100 billion BRICS
bank that is to serve as a pool of money for infrastructure projects in Russia,
Brazil, India, China and South Africa, and will challenge the dominance of the
Western-led World Bank and the IMF.
Moscow
and Beijing have been boosting cooperation in various fields, including the
energy and financial sectors. Most recently, the two countries decided to
create a joint rating agency that’ll counter balance the existing Western ‘Big
Three’ of S&P, Moody’s and Fitch.
Meanwhile
the decision to switch to local currencies in trading settlements has become a
major move towards reducing dependence on the US dollar and creates an
alternative within the global financial system. Published time: March
09, 2015 01:03 RT.
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