Backgrounder

Hu, Medvedev pledge closer economic ties

(China Daily)
Updated: 2010-04-17 07:59

BRASILIA, Brazil - President Hu Jintao and his Russian counterpart Dmitry Medvedev discussed major economic projects, seeking closer and stronger trade ties as both countries are in their critical period of development.

The two leaders made the pledge while meeting on the sidelines of the BRIC summit in Brazilian capital Brasilia on Thursday.

Hu urged the two countries to support each other and seize opportunities to properly tackle the challenges as this year is pivotal to the profound adjustment of the international structure and the recovery of the world economy.

He said the two countries need to push forward cooperation on major projects and interregional cooperation.

The President added that China is willing to work with Russia to promote the construction of the G20 mechanism to ensure it develops in the direction that favors the emerging markets and the common interests of developing countries.

Russian media quoted Medvedev's foreign policy aide Sergei Prikhodko as saying the meeting was "open, productive and trustworthy."

"The leaders discussed enhanced cooperation, including on key international issues. Besides, the talks focused on interaction in BRIC and SCO formats, on the promotion of major economic projects, regional cooperation, intensive humanitarian exchanges and youth contacts," he said.

The two presidents also exchanged views on the Iranian nuclear issue and the nuclear plan on the Korean Peninsula.

The United States and other western powers are eager to see sanctions on Iran put into place soon while China and Russia have traditionally been against sanctions, saying they prefer using diplomacy to get Teheran back to the negotiating table.

Medvedev had to change his schedule to meet Hu who cut short his stay in Brasilia because of a devastating earthquake back home.

"I would like to express sincere condolences in connection with a devastating earthquake in China. Unfortunately, such calamities always result in human casualties and major damage," Medvedev told Hu and expressed Russian readiness "to provide aid and assistance to China in any form and in any scope."

President Hu also met with South African President Jacob Zuma on the same day to exchange views on further development of the stronger political trust, enhanced economic cooperation and more solid public foundation.

China has become South Africa's biggest trade partner and exporter as bilateral trade hit a historic high of more than $16 billion in 2009, which was over 10 times the amount in 1998 when the two countries forged diplomatic ties.

The two countries have generally maintained a trade balance as China exported machinery and durable goods to South Africa, which shipped a great amount of minerals, diamonds, wine and crafts to China.

Among African nations, South Africa draws the biggest number of Chinese tourists and students who pursued higher education in the country at the southern tip of Africa.

Xinhua and Agencies

(China Daily 04/17/2010 page7)