Moscow [Russia], October 18 : Russian President Vladimir Putin in his press briefing on Friday ahead of the BRICS Summit said the relationship between Russia and China is "unique" and "confidential".
Putin said that Russia-China trade is booming and emphasised that their interaction in the international arena is a key factor for global strategic stability.
"Russia and China have established a unique relationship, very confidential and the trade and economic ties volume has been growing rapidly. According to our statistics, 226 or 228 billion... of mutual trade which is self-explanatory and self-evident. And I want to relate that the interaction of Russia and China at the international arena is one of the key factors of global strategic stability. This is also evident and many nations share this view," he said.
Putin added that Russia's relations with China are built on taking mutual interests into consideration.
"Our relationships with the People's Republic of China is built on taking each other's interests into consideration. We listened to one another like 5-7 years ago, the Chinese leadership, the Chinese political government and I had on multiple occasions had a conversation with Chinese President Xi Jinping, the subjects on balancing trade and taking a thought on what should be done in order for Russian industrial experts to be boosted for the Chinese market and for agriculture too. The Chinese side had relevant questions on energy, on Outer Space Co. And we rectify every aspect, we hear each other. We give each other an ear," he said.
Putin added that Russia and China don't have hierarchy among them and that they promote each other's benefit to make the relationship a success.
"If you consider the trade balance structure, you will receive an answer. We are not just talking, we are doing. There are no seniors or juniors, we just work to promote each other's benefit and we are successful," he said.
BRIC, as a formal grouping, started after the meeting of the Leaders of Russia, India and China in St. Petersburg on the margins of G8 Outreach Summit in 2006.
The grouping was formalized during the first meeting of BRIC Foreign Ministers on the margins of UNGA in New York in 2006.
The 1st BRIC Summit was held in Yekaterinburg, Russia, in 2009. South Africa was added at the BRIC Foreign Ministers' meeting in New York in 2010.
BRICS has since expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates in 2024. So far a total of 15 BRICS Summits have taken place.