China, Russia look to "new era" of strategic relations (3)

08:11, September 28, 2010      

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Chinese President Hu Jintao (R) shakes hands with Russian President Dmitry Medvedev during a welcoming ceremony held for Medvedev in Beijing, capital of China, Sept. 27, 2010. (Xinhua/Li Xueren)

In the talks, President Hu highlighted cross-border cooperation and cooperation in high-tech and innovation.

Hu also expressed his support for Russia's proposal on inter-bank listed trading of the RMB and Ruble in the forex markets.

"The two sides agreed that enhancing pragmatic cooperation in various fields between the two countries is of great significance to the quickened modernization of both countries," said Hu.

Medvedev, accompanied by a large delegation of senior officials and business tycoons, hailed bilateral trade cooperation and expressed hope the two countries can put their focus on major cooperative projects.

"We are delighted to see that bilateral trade has almost recovered from the impact of the global financial crisis, with trade volumes expected to bounce back to pre-crisis levels by the end of the year," Medvedev said.

Sino-Russia trade rose 49.6 percent year on year in the first seven months of this year to 30.7 billion U.S. dollars, according to official statistics. Analysts expect bilateral trade to reach 60 billion U.S. dollars this year.

Apart from bilateral ties, China and Russia are seeking close coordination in the international arena.

Hu and Medvedev both hailed the closer coordination of Russia and China under the frameworks of the G20, the Shanghai Cooperation Organization (SCO) and as BRIC countries (China, India, Russia and Brazil).

"The coordination between Russia and China on the international stage is strategic cooperation. This guideline, which allows us to adapt to the complex international situation, will not falter," said the Russian president.

In the meantime, Hu urged the two sides to deepen the mechanism of strategic security negotiations while supporting each other on issues concerning their respective core interests.

"China and Russia will maintain international peace and stability and promote the overall recovery, and healthy and stable development of the world economy," Hu said.

Medvedev's three-day visit will also take him to Shanghai, where he will attend Russia's National Pavilion Day at the ongoing World Expo on Tuesday.

"Your visit comes as the world political and economic landscape undergoes profound changes," said Premier Wen in a meeting with Medvedev while emphasizing the all-round outline of future China-Russia cooperation.

"As the major issues between the two countries have been resolved, the two governments should implement the consensuses reached by the two heads of state and lift bilateral ties to a new level," Wen said.

Source: Xinhua

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