BEIJING, October 23. /TASS/. Moscow and Beijing have been successfully developing trade and economic cooperation despite the complicated global situation, Chinese President Xi Jinping said during a meeting with his Russian counterpart Vladimir Putin on the sidelines of the 16th BRICS Summit in Kazan.

"Despite the chaotic and complex situation in the world, trade and cooperation between the two countries in other spheres are actively developing with large-scale cooperation projects being steadily implemented," the Chinese leader noted as quoted by China Central Television.

He stressed that Beijing and Moscow must protect the UN-centric international system and maintain global strategic stability.

"As permanent members of the UN Security Council and major global powers, China and Russia must expand their comprehensive strategic coordination and closely interact and coordinate their actions within the framework of multilateral structures, such as the UN and the Shanghai Cooperation Organization," Xi said.

He added that Beijing hopes to develop strategic and practical cooperation between BRICS countries "in order to attain new opportunities for the Global South."

The 16th BRICS Summit, which is the key event of Russia’s chairmanship in the association, is being held in Kazan on October 22-24. The BRICS group was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining it in 2011. On January 1, 2024, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, became its full-fledged members. The Kazan summit will be the first to be attended by the new members of the association. Representatives of over 30 countries are expected to take part.