Visiting Chinese President Hu Jintao (L) shakes hands with his Russian counterpart Dmitry Medvedev after they signed a joint statement on international situation and major international issues in Moscow, capital of Russia, June 16, 2011.

China and Russia on Thursday issued a joint statement on a broad range of key international issues.

The statement was signed by visiting Chinese President Hu Jintao and his Russian counterpart, Dmitry Medvedev.

Countries of the world have become increasingly interdependent against the backdrop of profound changes and major adjustments in the international situation as well as the emergence of global challenges and regional threats such as the international financial crisis, regional conflicts, natural disasters, proliferation of weapons of mass destruction,terrorism and climate change, said the statement.

The two sides recognize the need to make concerted efforts to effectively cope with such global challenges and threats, it said.

UN, G20 AND SCO

The United Nations has played a key role in international affairs by safeguarding peace, promoting development and multilateral cooperation, said the statement.

Both China and Russia believe that the representativeness of the UN Security Council needs to be boosted and its effectiveness improved, it said.

The two sides support the current inter-governmental negotiating mechanism, in which issues concerning Security Council reform could be discussed openly and fairly, and a package solution based on broadest consensus among UN members could be found, said the document.

Viewing the Group of 20 (G20) as a major platform for international economic cooperation, the two sides appreciate the bloc's efforts to improve global economic and financial governance, said the statement.

The G20 needs to strive to stabilize international financial markets, achieve robust, sustainable and balanced economic growth, reform the international currency and financial regimes and fight trade protectionism, said the document.

China welcomes Russia's proposal to host the G20 summit in 2013 and supports its drive to join the World Trade Organization by the end of 2011.

China and Russia attach great importance to cooperation within the framework of BRICS that groups Brazil, Russian, India, China and South Africa. The two sides appreciate the achievements of the just concluded Astana summit of the Shanghai Cooperation Organization (SCO), said the statement.

The SCO has played an important role in safeguarding regional security, deepening mutual understanding of its member states and promoting practical cooperation, said the document.

China and Russia have agreed to improve the legal instruments of the SCO in facing new challenges and threats, and take concrete steps to combat terrorism, drug trafficking and organized crime, it said.

The two sides will also step up cooperation within the trilateral framework involving China, Russia and India, on global and regional issues, it added.