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Russia, China sign MoUs to strengthen trade ties

May 24, 2023
in Business News, World News
Russia, China sign MoUs to strengthen trade ties
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Russia and China have signed a set of agreements to deepen bilateral ties between both countries.

Russia’s Prime Minister Mikhail Mishustin, who signed the accords with China during a visit to Beijing on Wednesday, hailed bilateral ties between the two countries as “unprecedented high.”

The memorandums of understanding signed included an agreement to deepen investment cooperation in trade services, a pact on export of agricultural products to China, and another on sports cooperation.

Mishustin, the highest ranking Russian official to visit Beijing since Moscow’s invasion of Ukraine, held talks with Chinese Premier Li Qiang and was due to meet with President Xi Jinping.

The visit comes after Russia and China reacted furiously to the Group of Seven nations’ weekend declarations that singled both countries out on a range of issues including Ukraine.

“Today, relations between Russia and China are at an unprecedented high level,” Mishustin told Li in their meeting in Beijing.

Xi visited Russia in March and held talks with President Vladimir Putin, after committing to a “no limits” partnership just before the 2022 Russia attack on Ukraine.

Beijing has rejected Western attempts to link its partnership with Moscow to Ukraine, insisting that their relationship does not violate international norms.

“China is willing to work with Russia to implement the joint cooperation between the two countries, and promoting pragmatic cooperation in various fields can take it to a new level,” Li told Mishustin.

Beijing has refrained from openly denouncing Russia’s invasion. But since February, Xi has promoted a 12-point peace plan, which has been met with scepticism from the West and cautiously welcomed by Kyiv.

China’s special representative for Eurasian issues, Li Hui, visited Ukraine last week and met with President Volodymyr Zelenskiy, kicking off a European tour described by Beijing as an effort to support peace negotiations and a political solution to the situation.

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