PRESS RELEASE

Putin-Xi Meeting During APEC To Ensure Closer Economic Relations

Nov. 2, 2014 (EIRNS)—Two major BRICS member-nations’ leaders, China’s President Xi Jinping and the Russian President Vladimir Putin, will be meeting for the fifth time this year at the Asia-Pacific Economic Cooperation (APEC) Leaders Summit scheduled to be held in Beijing on Nov. 7-11. During the recent visit of Chinese Premier Li Keqiang, President Putin had conveyed the message that Russia and China were "natural partners and natural allies."

An article in the BRICS Post, posted from UK, said the meeting of the two leaders may culminate with the boosting of cooperation in major investment projects in mining, the chemical industry, agriculture, and infrastructure construction. It said these will be on the agenda of talks between the leaders of the two allies next week at the APEC Summit. APEC is a forum for 21 Pacific Rim member economies that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region.

Although this will be the fifth meeting between Xi and Putin this year, Xi has held talks or met with Putin nine times since he assumed office as China’s President in March 2013. Despite a gloomy global economy, the trade volume between Russia and China surged last year, nearing the target of $100 billion set for 2015, said Putin. President Xi and Putin have overseen enormous Sino-Russian joint ventures, including a landmark $400 billion gas deal in Shanghai after a decade of gas supply talks between the two countries. Russia also plans to sign a new 30-year gas supply contract with China via the western route. Putin also welcomed Chinese investors joining the strategic Vankor oil project in Siberia.