The consultations were held as part of the state visit to Russia by the Chinese President (May 26–28, 2003).
Vladimir Putin and Hu Jintao discussed relevant aspects of bilateral relations and exchanged opinions on international and regional problems of mutual interest. They discussed ways to promote multi-faceted strategic partnership and stated that their positions on many current key issues were identical.
The leaders reviewed the progress in implementing the Russian-Chinese Treaty on Good-Neighbourly Relations, Friendship and Cooperation signed two years ago, and reaffirmed their mutual commitment to achieve an early settlement of border issues inherited from the past on the basis of the principles of justice, equality, mutual understanding and concessions for the sake of greater peace and stability on the shared border and the economic interests of the population living there.
The Russian President and the Chinese President set a goal of increasing the registered trade between the two countries from $12 billion to $20 billion over the next four or five years. Mr Putin also said Russian companies were interested in entering the Chinese energy market.
Mr Hu invited Mr Putin to pay a return visit to China at any time next year.
The Russian and the Chinese leaders issued a joint declaration on the results of the talks and looked on as the members of the delegations signed a credit agreement between Russia’s Vneshtorgbank and the Construction Bank of China and an inter-governmental agreement on cooperation in the exploration and use of the resources and potential of the world ocean.
The heads of state made statements to the press and answered journalists’ questions.