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Russia to be able to resolve economic difficulties -- Chinese ForMin

Russia will be able to resolve economic difficulties, Chinese Foreign Ministry spokesman Qin Gan said on Thursday, commenting on the situation in the Russian economy.

"Russia has substantial gold and foreign currency reserves. Russia's state debt/GDP ratio among G-20 countries is also low. Considering its rich natural resources and a good industrial base, we are confident that Russia will be able to cope with these temporary difficulties," the Chinese diplomat said.

The global economy is recovering slowly, which affects the economic development of the Shanghai Cooperation Organization (SCO) member states, he said.

"In this situation, the SCO member states are seeking to strengthen cooperation, jointly promote economic development at the level of states and regions. China is ready for strengthening SCO cooperation," the Chinese diplomat said.

Currently, members of the Shanghai Cooperation Organization are Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. Mongolia, India, Iran, Pakistan, and Afghanistan enjoy the observer status.

[Source: Itar Tass, Beijing, 18Dec14]

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