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Russia, China hold similar positions on financial reform

(Xinhua)
Updated: 2009-03-31 09:30

MOSCOW -- Russia and China "have similar positions" on the reform of the international financial system, Russian presidential aide Arkady Dvorkovich said Monday.

Both Russia and China have voiced support for the notion of a "supra-national reserve currency," and the two countries have held discussion over the issue, Dvorkovich told reporters at a briefing.

"Indeed, we have similar positions," Dvorkovich said, adding the G20 London summit may initiate broad consultation over the issue.

The applicability of a supra-national reserve currency in the international balance and trade can be taken into consideration in the short term, said Dvorkovich, who added there is yet no serious discussion about using the currency in the cash flow.

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The presidential aide also said Russian Ruble and Chinese Yuan should be included in the basket of the IMF's Special Drawing Rights (SDRs).

When speaking of the upcoming meeting between Chinese President Hu Jintao and his Russian counterpart Dmitry Medvedev on the sidelines of the London summit, Dvorkovich noted it revealed the significance of bilateral ties for both countries.

Sharing a profound prospect for further cooperation, Russia and China have huge potentials for cooperation in the fields like energy, industry, service and cultural exchanges, he added.

Dvorkovich told Xinhua that having great potential for cooperation, BRIC (Brazil, Russia, India and China) share "similar interests" on the assurance of the world's stable economic growth and the reconstructure of the international financial supervision system.

BRIC will continue to play a bigger role in the future global economic and financial system, he said.

Yet the four countries will not issue a joint statement alone at the G20 summit, since only one comprehensive statement, indicating all parties' agreed stance, will be passed at the summit, he added.