China is ready to emerge as one of the larger trading partners with Russia in a relationship that extends from military to energy, the Chinese government said.
Russian President Vladimir Putin wrapped up a weekend tour of China with a new legal framework that outlines evolving ties with the Asian superpower. Putin said in a statement that agreements signed in Beijing were “based on mutual respect, friendship and consideration for each others interests.”
China was among those investors named as a possible new stakeholder in Russian oil company Rosneft, on the table as a possible target of a privatization scheme meant to help pull Russia’s energy-based economy out of recession. On Saturday, Rosneft Chairman Igor Sechin signed a series of deals with Chinese energy companies, including shipbuilding contracts.
“We have made a strategic decision to develop an unprecedented industrial complex with leading-edge equipment and technologies to help fulfill the shipbuilding requirements for the Russian Federation and to successfully compete in global shipbuilding markets,” he said in a statement.
This post was published at UPI
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