Subscribe to EIR Online


Putin-Xi Press Conference Reaffirms Commitment to Their Joint One Belt, One Road/Eurasian Economic Union as Global Alternative

June 26, 2016 (EIRNS)—At the close of their summit yesterday in Beijing, Presidents Xi Jinping of China and Vladimir Putin of Russia emerged to issue summary statements to the press.

President Xi began by referring to his discussions with "my old friend President Putin," and noted that

"President Putin and I have unanimously decided that the more complicated the international situation, the more determined we should be, guided by the spirit of strategic cooperation and the idea of eternal friendship."

He went on to explain that

"the two sides have the confidence and opportunity to expand regional economic cooperation, to overcome the global economic challenges and to maintain the positive dynamics of economic development through deepening practical cooperation and aligning our interests, in particular by converging the national development strategies One Belt, One Road and the Eurasian Economic Union."

Xi added that the "all-encompassing partnership and strategic interaction" of Russia and China included a commitment to

"sustaining the aims and principles of the UN Charter and the basic provision of international law, ensuring a global strategic balance... We oppose the use of force and threats of using force, casual introduction of sanctions and threats of sanctions."

President Putin noted that "Russia and China have very close or almost identical views on international development," and then centered most of his remarks on economic cooperation.

"The global economic crisis, instability on commodity markets and foreign exchange markets could not but affect our bilateral relations,"

Putin stated, and pointed out the joint measures that the two countries are adopting:

"To reduce dependence on foreign exchange markets, we are expanding the use of national currencies in mutual settlements. The share of payments in Russian rubles is three percent, and the share of the Chinese yuan is even greater at nine percent. The latter figure should rise significantly after Russia establishes a clearing and settlement center for the yuan. Our focus is on building up industrial cooperation, launching joint projects in infrastructure, resource development, and development of agriculture.... Cooperation in peaceful nuclear energy is growing.... We are expanding close cooperation in aircraft building and the space industry."

Putin also emphasized that the countries’ approach is centered on

"the concept of aligning the Eurasian Economic Union and the Silk Road Economic Belt. Today, an official start was announced for talks on a trade and economic cooperation agreement between our integration projects. It promises a new level of partnership, which presupposes the creation of a common economic space on the entire Eurasian continent."

Back to top