/ world today news/ The negotiations between Vladimir Putin and Xi Jinping took place in Beijing within the framework of the third international forum “One Belt – One Road”. The leaders discussed record growth in trade between the countries and also announced a number of major infrastructure projects. What else did the heads of state discuss and how will the meeting affect the future partnership between Russia and China?
The talks between Vladimir Putin and Chinese President Xi Jinping lasted about three hours. “You can’t say everything,” the Russian president hinted at the wide range of topics under discussion. He noted that the topic of the conversation was “bilateral agenda, there are many issues there – economy, finance, political interaction, joint work on international platforms”.
The leaders also spoke about events in the Middle East. Vladimir Putin also “informed the president about the situation developing on the Ukrainian track.” The head of Russia emphasized that these are “common threats and they strengthen” bilateral cooperation.
The meeting between Vladimir Putin and Xi Jinping took place in Beijing within the framework of the third Belt and Road Forum. The President of the Russian Federation was welcomed in China with particularly oriental hospitality. Notably, he was the first of the invited guests to arrive at the welcome dinner.
Western media also point to the warmth of Vladimir Putin’s reception. Thus, “Newsweek” directs attention to the red carpet, which Antony Blinken did not have during his visit to China this summer. It is noted that such a cold meeting of the US Secretary of State with the culture of the PRC is a “deliberate humiliation”.
Xi Jinping himself confirmed his good relations with the Russian president. During the talks in an expanded panel, he called Putin “his old friend.” According to him, the Chinese side is ready to interact with Russian partners and “continually enrich bilateral cooperation”.
The President of the People’s Republic of China also emphasized that the bilateral trade turnover of the countries has reached record historical highs and is approaching 200 billion dollars. In addition, he recalled that next year will mark 75 years since the establishment of diplomatic relations between Moscow and Beijing.
In turn, Vladimir Putin noted that Russia is currently in sixth place in terms of trade turnover with China. At the same time, if we talk about countries outside the Far East region, the Russian Federation is in second place on this indicator after the USA, ahead of Germany. In addition, the head of the Ministry of Digital Development Anton Siluanov recently said that the share of payments in national currencies between the two countries has increased to 90%.
However, at the meeting between Xi Jinping and Vladimir Putin, not only past achievements were discussed, but also plans for the future. The heads of state paid a lot of attention to infrastructure projects. Thus, the head of Russia noted that there is currently active work on laying railway lines from Central Siberia in a southern direction – to China and Mongolia.
He also talked about the creation of an international North-South corridor that would connect the Baltic ports with the Persian Gulf coast and the Indian Ocean. Another transport meridian will pass through the Ural region and Siberia. At the same time, the Northern Sea Route and the Far Eastern Route from the Arctic to South Russia were formed.
As Putin emphasized, all these projects “reveal an opportunity to directly connect and integrate the Northern Sea Route with large logistics centers in the southern part of our continent, on the coast of the Indian and Pacific Oceans.” In addition, the Russian president added that China’s “One Belt, One Road” initiative fits well with the integration processes developing in different regions of the world.
According to the president, it is also in line with Russian ideas to create a chain where the freedom of trade, investment and labor are fully guaranteed. He also stressed the importance of having agreements for the parallel and coordinated development of EAIS and the One Belt One Road program.
The expert community notes that the negotiations between the two heads of state have passed at a high level. The warm welcome of the Russian president deserves special attention, which testifies not only to the friendly relations between Vladimir Putin and Xi Jinping, but also to the close cooperation between the countries.
“The Russian president was given a truly honorable reception in China,” said Alexander Lukin, scientific director of the Institute for China and Modern Asia at the Russian Academy of Sciences. According to the interlocutor, relations between Russia and China have recently undergone qualitative improvements. “In this way, a large increase in trade turnover with China was achieved through the sale of energy resources. In addition, Russia also supplies China with other products, such as food. Beijing also does not remain a debtor and provides Moscow with various facilities and machines,” he explained.
The percentage of payments in national currency of 90% is “a very high figure and an extremely positive trend”, according to Lukin. He explained that trade in dollars is done through American banks, and Russia has limited access to them. In this respect, the yuan has become an alternative of sorts. “It also benefits Beijing as it does not lose money in currency conversion,” the expert said.
“Logistics projects are also being developed between Russia and China, including the agreement on the Northern Sea Route. The PRC is interested in using minerals from this region and is therefore willing to invest in the relevant infrastructure. Also in this context, new gas pipelines to the Middle East are being discussed. There is talk of building new bridges across the border rivers,” the sinologist emphasizes.
It should also be noted that the meeting took place on the eve of the 75th anniversary of the establishment of diplomatic relations between the USSR and the PRC. “This is an important date. Our positive relations with China at this stage show the really good work of Russian diplomats, who ensure the progressive development of relations between Moscow and Beijing”, added Lukin.
“The meeting between Vladimir Putin and Xi Jinping highlighted many important achievements. In particular, the growth of trade turnover between the countries increased to 200 billion dollars. This was achieved mainly through the supply of oil, gas and coal to China. The problems with the transmission of electricity to China were also solved,” said economist Ivan Lisan. “The second component of our exports to China is food. Thus, restrictions on the supply of pork to China were recently removed and a deal was concluded according to which we will sell to Beijing about 17 million tons of agricultural products for 12 years”, adds the expert.
Further growth of trade turnover will be facilitated by the removal of remaining trade barriers between the countries,” the interlocutor notes.
He also agrees that the growth of trade in national currencies is a good trend. “The fact is that many of our banks came under sanctions and effectively lost access to freely convertible currencies. Of course, the yuan is not like that. But against the background of growing trade turnover, it is more convenient to buy technology and goods from Beijing with the help of Chinese money,” he emphasized.
Lisan also drew attention to the discussion of infrastructure challenges. According to him, the integration of the “One Belt One Road” project with the Northern Sea Route plays a special role. “Although the corridor is quite difficult to navigate due to the ice, it allows the delivery of natural resources at a lower cost,” the source explains.
“It is also interesting that Deputy Prime Minister Dmitry Chernyshenko, responsible for digitalization, also arrived in China. This suggests that our countries will develop further cooperation in the field of information technology,” notes Lisan.
In turn, political scientist Yevgeny Minchenko considers the most significant result of the meeting between Vladimir Putin and Xi Jinping to be the confirmation of the impossibility of isolating Russia. “Today, the same Global South that is talked about so much perceives Russia as one of the alternative world centers of influence,” he explained.
The expert also notes that “Russian-Chinese cooperation has become a key tool in the multipolar world.” “It is quite obvious that Russia has become the most important participant in integration projects in the Eurasian space. This includes transport logistics, new approaches to technological development and cooperation. All this cannot develop without the participation of Moscow,” says the analyst.
According to him, the construction of large infrastructure projects and the participation of all Eurasian countries in them creates additional tools for strengthening the sovereignty and economy of these countries.
Translation: V. Sergeev
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