13:02 GMT29 January 2020
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    China Sees SCO as Platform for Silk Road Economic Belt, EEU Integration

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    The Shanghai Cooperation Organization (SCO) alliance of five Eurasian nations will serve as the main forum for promoting China’s Silk Road Economic Belt (SREB) initiative and Russia’s Eurasian Economic Union (EEU), a senior Chinese diplomat said Wednesday.

    UFA (Sputnik) — Earlier in the day, Russian President Vladimir Putin and his Chinese counterpart Xi Jinping met on the sidelines of the BRICS/SCO summit in Russia’s city of Ufa.

    The leaders discussed the two economic unions – SREB and EEU – that seek closer Eurasian economic integration, including in investment and trade.

    "Our leaders have already agreed that the two parties will consider SCO as the most convenient forum for the realization of this agreement," said Gui Congyou, deputy director general of China's Foreign Ministry Department of European and Central Asian Affairs.

    He emphasized that the integration of SREB and EEU was a decision of strategic importance.

    Russia and China have been tightening financial relations for years, both bilateral and within broader regional unions. Both countries are founding members of the SCO economic and security bloc and BRICS group of emerging economies.

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    Tags:
    Shanghai Cooperation Organization, economy, Silk Road Economic Belt, BRICS, Gui Congyou, China, Russia
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