Russia and China affirm their relationship is 'at an unprecedented high'.

(Baonghean) - Chinese President Xi Jinping began a two-day official visit to Russia on July 2nd and met with Russian President Vladimir Putin. This marks the third bilateral meeting between the two leaders in just three months – a frequency rarely seen in international relations.

This event once again confirms that China and Russia are attaching great importance to their relationship, which they call "at an unprecedented high level," despite outside comments that the relationship is built on a foundation of self-interest rather than sincerity.

Russian leader Vladimir Putin and Chinese President Xi Jinping have had frequent bilateral meetings, with three meetings in three months. (Image: Internet)

Economic highlights

Ahead of the visit, the Chinese side emphasized that this was "the most important event of the year" in China's bilateral relations and would "provide a new catalyst for the development of bilateral relations" amidst the slow recovery of the global economy and the volatile international situation.

The agreements signed between the two sides during Xi Jinping's visit totaled $10 billion. Areas of cooperation beyond energy include finance, high-speed rail, infrastructure construction, space research, agriculture, science and technology, innovation, and cross-border power supply.

It is no surprise that economic and trade matters were identified as the focus of President Xi Jinping's visit to Russia, as it is widely recognized as a strong thread running through recent Russia-China relations, ever since Russia was subjected to sanctions by Western countries following the crisis in Ukraine.

China and Russia have engaged in extensive and increasingly warm economic dialogues, highlighted by a $400 billion natural gas supply agreement between Russia and China by 2030 – a remarkably large figure rarely seen in bilateral trade agreements.

Besides political will, the highly complementary nature of the Russian and Chinese economies creates favorable conditions for the two countries to strengthen cooperation in the economic and trade sectors. Russia's greatest strength is something that China has always needed: energy. Conversely, China has become an important source of capital for Russian businesses.

The North Korean nuclear issue cannot "hinder" the talks between leaders Xi Jinping and Vladimir Putin. Photo: KCNA

Cooperation between the two countries is currently gaining new momentum, namely the steady recovery of the Russian economy since the second half of 2016 after two years of struggle due to falling oil prices and Western sanctions. Last year, Russia halted its decline, and in 2017, GDP growth is expected to reach 1.5-2%.

On the other side, the Chinese economy is also showing positive signs. Although the growth rate is slower than in previous years, the Chinese economy is undergoing a solid transformation, with GDP in 2017 still projected at 6.8% – a desirable figure given the ongoing difficulties in the global economy.

Thanks to the optimistic economic outlook of both sides, China was Russia's largest trading partner in 2016. In the first four months of 2017, bilateral trade increased by 37% compared to the same period last year, reaching over $24.5 billion. Both sides are now determined to increase bilateral trade to $200 billion by 2020.

The perfect duo in international hotspots.

Economic cooperation is a crucial foundation bringing China and Russia closer together on a range of key regional and global issues, most notably the nuclear situation on the Korean Peninsula. Prior to the visit, there were suggestions that the North Korean issue might be a sticking point in the talks between the two leaders, following Russia's unexpected announcement of a "roadmap" to resolving the North Korean problem – a move seen as competing for influence with China.

However, upon closer examination, the proposals put forward by Russia in its new "roadmap" bear many similarities to previous proposals from China, particularly the approach of opposing increased pressure and involvement as pursued by the US; and emphasizing the need for both the US and North Korea to act together to de-escalate the situation towards the ultimate goal of returning to negotiations.

Russia and China remain a formidable pair in the trilateral relationship: Photo: New China

Many also believe that Russia likely had specific discussions with China before presenting this "roadmap" in order to gain weight among major powers on the North Korean issue, given China's increasing pressure from the United States.

Therefore, contrary to the expectation that the North Korean issue would "overshadow" the meeting between Chinese President Xi Jinping and Russian President Vladimir Putin, this is actually an opportunity for Russia and China to demonstrate the consensus of their two comprehensive strategic partners.

Russia's tacit support for China on the North Korea issue is similar to China's tacit support for Russia on the Syria issue, and it's not difficult to see that when the UN Security Council needs to pass any resolution related to these two "hot spots," Russia and China usually have the same number of votes.

At a recent international forum, Russian Foreign Minister Sergei Lavrov stated that the three major powers—the US, Russia, and China—could cooperate to solve world problems, rather than the US and China cooperating against Russia or Russia and China cooperating against the US. However, public opinion suggests that the prospect of good-faith cooperation between these three "giants" is quite distant.

Therefore, the fact that Russia and China cast the same vote will continue, as a way to demonstrate the assertion that both Russia and China have repeatedly stated: "Regardless of how the international situation changes, developing and deepening Sino-Russian relations is a strategic choice for both countries."

Thuy Ngoc