Russian President Vladimir Putin and Chinese President Xi Jinping signed a joint statement on cooperation on the construction of the joint Eurasian Economic Union (EAEC) and the Silk Road project.

The document has been approved by the leaders of the two countries on the basis of bilateral talks held in the Kremlin.

Vladimir Putin said the integration of the post-Soviet trade bloc and China’s Silk Road project opens the way for building a common economic space in Eurasia.

"The integration of the EEU [Eurasian Economic Union] and Silk Road projects means reaching a new level of partnership and actually implies a common economic space on the continent," Putin said

Putin said the Chinese leader and he had paid special attention to this issue at their talks in Moscow.

"The EEU and Silk Road projects can harmoniously supplement each other," the Russian president said.

The Treaty on establishing the Eurasian Economic Union (EEU) was signed by the presidents of Russia, Belarus and Kazakhstan on May 29, 2014 in Astana. The EEU, which came into effect on January 1, 2015, is designed to ensure the free movement of goods, services, capital and workforce on its territory. The EEU currently comprises Russia, Belarus, Kazakhstan and Armenia.

China’s integration project aims to revive the ancient Silk Road route and build a transport, energy and trade corridor between Europe and Asia.