Trade

Putin: Ties between Russia, China at ‘unprecedented level’

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Russian President Vladimir Putin said ties between China and Russia are at an “unprecedented level” Wednesday during a state visit from Chinese President Xi Jinping, according to CNBC.

China and Russia are making moves to strengthen bilateral ties amid friction in both countries’ relationships with the U.S. Ongoing U.S. sanctions and a standoff over the two countries’ respective presences in Venezuela have exacerbated tensions with the Kremlin. China, meanwhile, has exchanged blows with the U.S. in an ongoing trade war.

{mosads}On Wednesday Xi agreed with Putin, saying relations between the two countries were the best they had been after withstanding “trials and tribulations,” according to the network.

Xi’s three-day visit will “be of milestone significance in the development of bilateral relations,” and “surely promote greater development … under the new situation,” Chinese Vice Foreign Minister Zhang Hanhui said ahead of the trip, according to CNBC.

“Our two countries enjoy strong political trust and can always count on each other’s firm support on issues concerning our respective core interests and major concerns,” Xi told Russia’s TASS news agency Tuesday.

Trade turnover between Russia and China increased by 27.1 percent to $107 billion from 2017 to 2018, according to CNBC, and the figure is on track to grow again in 2019. Andrey Slepnev, CEO of the Russian Export Center, said last November that mutual trade between the countries could increase 100 percent in coming year.

Tags Vladimir Putin Xi Jinping
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