Thursday, March 23 2006 11:40 Hrs (IST) - World Time -

Beijing: In a boost to cooperation among India, China and Russia, Chinese President Hu Jintao and his visiting Russian counterpart Vladimir Putin have given the go-ahead for the early establishment of a tripartite mechanism to realise their potentials and stand up to new threats and challenges.

"The two sides favour an early establishment of a mechanism of trilateral cooperation in the Russia-China-India format in the belief that this will contribute to a fuller realisation of their potentials for economic development and will strengthen international efforts to stand up to new threats and challenges," said the translated version of the Sino-Russian joint statement, signed by Hu and Putin after their summit here on Tuesday.

Chinese Foreign Ministry spokesman, Qin Gang had commented positively on Tuesday on the potential for cooperation between China, India and Russia.

Noting that India, China and Russia were big countries, Qin said they share much common interest in safeguarding regional security, stability and development.

The three parties held regular meetings to exchange in-depth views on issues of common interest and to strengthen coordination and cooperation, he said with reference to the meetings between the Foreign Ministers of the two countries.

"This complies with the interest of the three parties and the peace and stability of the region and the world," the spokesman had said.

Interestingly, during Putin's state visit to India, the two governments had issued a joint statement in which trilateral cooperation between India, Russia and China was mentioned as a 'useful' mechanism in promoting understanding between the three nations.

"The Sides note with satisfaction that the Trilateral Meetings at the Foreign Ministers level of India China and Russia have been taking place regularly. These meetings have been useful in promoting understanding and exploring areas of possible cooperation at a trilateral and at an international level," said the Indo-Russian statement of December 3, 2004.

"The Trilateral Meetings have also reflected a strong concern against terrorism anywhere and in any form. The Sides express their conviction in favour of progressive increase in the trilateral cooperation, which could also result in social and economic development amongst the three countries," the statement had noted.

The trilateral relationship between India, China and Russia was first mooted by former Russian Prime Minister, Yevgeny Primakov during a visit to New Delhi in 1998.

Following this, the Foreign Ministers and scholars from the three nations have been meeting regularly.

The last meeting of the three Foreign Ministers were held in June, 2005 in the Russian city of Vladivostok.