Xi's Russia visit goes beyond trade

Apart from the Western sanctions, plunging oil prices have also taken a toll on Russia, one of the three largest oil exporters. As a result, its growth fell to about 0.6 percent in 2014. Hence, Russia's international economic cooperation in the next two years is critical to its foreign exchange earnings, financial market and economic structural adjustments.

Likewise, with its economy having entered the "new normal", China needs to get more involved in regional exchanges and push for an inclusive Eurasian economic order. As founding members the Beijing-proposed Asian Infrastructure Investment Bank, China and Russia have agreed to work jointly to make trade and investments more convenient through multilateral organizations like the Shanghai Cooperation Organization.

Interestingly, major European countries do not want a complete halt in their trade with Russia because of the Ukraine crisis. Although German Chancellor Angela Merkel will not attend the May 9 parade, she will visit Moscow a day later to discuss the Ukraine crisis with Putin.

Applying for the AIIB membership despite Washington's objection, many European Union countries, including the United Kingdom, Germany and France, have made it clear that the fate of intercontinental cooperation should not be held hostage by geopolitical disputes.

Incidentally, all the three countries on Xi's itinerary are crucial parts of China's Silk Road Economic Belt proposal, a nontraditional regional cooperative mode upholding mutual interest, win-win cooperation, inclusiveness and openness. And China means every word of the commitment it has made to maintain world peace and integrate Eurasia.

The author is secretary general of the Shanghai Cooperation Organization Research Center, affiliated to the Chinese Academy of Social Sciences.

(China Daily 05/09/2015 page5)