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Russia-China defense cooperation major factor for world security — Putin

May 20, 2014, 12:09 UTC+3 SHANGHAI

Russia and China have joint projects in civil aircraft building, automobile industry and in the financial sphere

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Russian President Vladimir Putin

Russian President Vladimir Putin

© AP Photo/Carlos Barria, Pool

SHANGHAI, May 20. /ITAR-TASS/. Cooperation of Russia’s and China’s defense ministries is an important factor for security in the region and the whole world, Russian President Vladimir Putin said after talks with China’s President Xi Jinping.

“As far as military-technical cooperation contacts and contacts between defense ministries are concerned, such cooperation is a major factor for stability and security in the region and around the world,” Putin said.

He noted joint projects in civil aircraft building.

“We have good prospects and good projects for creating a wide-body plane and heavy civilian helicopter,” Putin said.

Cooperation in the automobile industry was developing well, too, he said.

“We are working along all lines and there is progress everywhere,” Putin said. “We shall be expanding financial infrastructures. Active work is underway to expand mutual settlements in the national currencies. We shall give thought to new instruments in the financial sphere," he added.

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