Press statements following talks with President of China Xi Jinping

Source: President of Russia – The Kremlin – English

President of Russia Vladimir Putin: President Xi, dear friend, Ladies and Gentlemen,
Allow me to begin by expressing my gratitude to President of China Xi Jinping for accepting our invitation to attend the Eastern Economic Forum in Vladivostok, for the first time as the main guest.
President Xi is accompanied in Vladivostok by a large delegation, which includes senior government officials, representatives of regional governments and business leaders.
Tomorrow, President Xi and I, together with the President of Mongolia and prime ministers of Korea and Japan, will take part in the forum’s plenary session. Today was President Xi’s working visit to Russia. It included talks during which we discussed the most urgent bilateral and international matters, and outlined further plans to promote the comprehensive partnership and strategic cooperation between Russia and China.
As usual, we paid special attention to trade and economic cooperation. We noted with satisfaction that bilateral trade increased by almost one third in the first six months of the year, reaching $50 billion. We have every reason to believe that by the end of the year, trade will reach a record high of $100 billion.
The signing in May 2018 of the Agreement on Trade and Economic Cooperation between the EAEU and China creates additional opportunities for expanding bilateral trade flows.
Russia and China reaffirmed their interest in expanding the use of national currencies in bilateral deals, which would improve the stability of banking services during export and import transactions under the risky conditions on the global markets.
Energy is an important area of cooperation. Last year, Russia supplied 30 million tonnes of oil to China as part of intergovernmental agreements, or over 52 million tonnes when commercial deals are taken into account.
The construction of the Power of Siberia pipeline is being carried out as planned. The launch is scheduled for late 2019. Agreement has been reached on the main conditions for gas supply from the Far East. Chinese investors own a large share in the Yamal LNG project. Clients in 14 countries, including China, have received four million tonnes of liquefied natural gas from this enterprise since December 2017.
China imports a large proportion of its electricity and coal from Russia. Russian-Chinese cooperation in the peaceful atom sphere is also developing. The first stage of the Tianwan Nuclear Power Plant is already in operation. This year, the third unit has been completed and the fourth is soon to be ready. Rosatom plans to build two more units there.
We also note the expanding cooperation in science, in the peaceful use of nuclear energy. In addition, cooperation in agriculture is developing. Exports of Russian agricultural products to China increased by more than 50 percent during the first six months of this year: for example, 656,000 tonnes of grain were exported, more than during the whole of 2017.
We continue negotiations aimed at increasing the number of the Russian regions that can export wheat to China and at simplifying mutual supplies of meat and dairy products.
We consider the strengthening of direct ties between Russian regions and Chinese provinces to be especially important. The 2018–2019 Years of Interregional Cooperation should promote this.
President Xi Jinping and I will also meet with the participants of the roundtable discussion involving heads of Russian and Chinese regions.
To be continued.