The Chinese leader is expected to spend three days on the state visit to Russia that coincides with the annual St. Petersburg International Economic Forum, and will commemorate the 70th anniversary of the establishment of diplomatic ties between the two countries.
“My engagement with President Putin is built on a high degree of mutual trust. That is the solid foundation of our close friendship. We treat each other with respect, candor, understanding and trust,” he said.
Xi’s visit comes as the trade war between the US and China continues to put pressure on both economies. In early May, after trade talks between Washington and Beijing fell apart, the Trump administration raised tariffs to 25% on $200 billion of Chinese goods.
Beijing responded by raising tariffs on $60 billion of US exports and escalating its anti-American propaganda. On May 30, the Chinese government accused the US of “economic terrorism.”
Meanwhile, the relationship between Xi and Putin remains strong. Since 2013, the two leaders have met almost 30 times, according to state media. Their last bilateral was at the second Belt and Road Summit held in Beijing in April.
The Chinese government has regularly praised its relationship with Moscow, with the Foreign Ministry saying in April relations were at their “best level in history.”
China is Russia’s largest trading partner, far ahead of the United States and other European countries.
According to Xi, the bilateral trade volume reached more than $100 billion in 2018, rising by 30% from the previous year. China’s imports from Russia soared by 42.7% in 2018.
There have even been suggestions in Russian state media that Chinese businesses might consider moving production to Russia, under pressure from the US-China trade war.
“These notable results of our business cooperation are especially valuable given the current complex environment of sluggish global trade and investment and surging protectionism in the world,” Xi told TASS.
It isn’t known when Xi and Putin will meet but Russian and Chinese state media said they were expected to sign about 30 agreements in a range of areas, including security, trade and energy.
During his visit Xi is also expected to open a panda facility at the Moscow Zoo, which received a pair of giant pandas in April for “research cooperation.”
Source : Nbcnewyork
