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China and Russia strengthen ties but gas deal remains in the works

Tuesday, May 20, 2014 - 01:05

May 20 - Chinese President Xi Jinping and Russian President Vladimir Putin sign statement on cooperation, but highly-awaited gas supply deal is still in the works. Deborah Lutterbeck reports.

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Russia and China strengthen ties as Chinese President Xi Jinping hosts Russian President Vladimir Putin in Shanghai. The two sign a joint statement on strategic cooperation. Xi says he has high hopes for the relationship. (SOUNDBITE) (Mandarin) CHINESE PRESIDENT, XI JINPING, SAYING: "We are determined that trade between our countries will reach 100 billion U.S. dollars by 2015." What he did not say was the two had reached a deal on a long-anticipated multi-billion dollar gas supply agreement for China. Putin spoke of closer military ties. (SOUNDBITE) (Russian) RUSSIAN PRESIDENT, VLADIMIR PUTIN, SAYING: "One of the important issues is military cooperation between the two countries' defense ministries. This cooperation has great importance in maintaining the stability and safety of the region and also of the world." The the two presidents were shoulder to shoulder as they hosted a banquet to welcome heads of states gathered in Shanghai for a regional summit. But they have yet to find common cause on the gas deal with the Kremlin saying they have yet to decide on a price agreement.

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China and Russia strengthen ties but gas deal remains in the works

Tuesday, May 20, 2014 - 01:05