Russian President Vladimir Putin gives a press conference following the 18th Summit of the Shanghai Cooperation Organization (SCO) in Qingdao, China.

Axar.az reports citing Sputnik.

At the SCO summit, Moscow and Beijing again expressed their hopes for a high level of bilateral cooperation, Russian President Vladimir Putin told reporters at a follow-up press conference, emphasizing the importance of such a stance.

"We have reiterated the very high level of our relations with China. We have agreed, and we have signed [with China] a declaration on further cooperation in the political domain, and in the fight with various threats. This reiteration [of cooperation] is very important," Putin said regarding the results of his visit to China.

The Russian president noted that in the economic area, Chinese-Russian bilateral trade saw significant growth in the first quarter of 2018.

"I am sure that if such level of development in this area is maintained, our bilateral trade could reach $100 billion this year," Putin suggested.

The combined purchasing power of the Shanghai Cooperation Organization is greater than that of the G7, Putin said.

"The very fact that we confirm the high level of our interaction and talk about the need for its development, in my opinion, is of great importance, for contemporary international relations, for Russian-Chinese relations," he said.

Answering questions about the G7, the Russian President stated that Russia hadn't ever left it and will be glad to see everyone in Moscow.

"As for the return of Russia to the Group of Seven, the Group of Eight, we have not left it. Back in the day, our colleagues refused to come to Russia for well-known reasons. Please, we'll be happy to see everyone there, in Moscow," Putin stated.

Speaking about the Skripal case, discussed at G7 summit, Putin noted, that "nothing new" was said on the matter, stressing that "it is necessary to stop chatter and move on to cooperation."

Putin stressed that he is ready to meet Trump 'as soon as' Washington is ready, adding that there were "no precise talks on a place for the meeting."

"As soon as the American side is ready this meeting would take place depending on my working schedule of course," Putin told reporters.

Additional Regulation of Vehicles Deliveries to US May Hurt EU Interests

The introduction of additional regulation of deliveries of vehicles to the United States might affect the interests of many countries, in particular, of the European states, Russian President Vladimir Putin said.

"As far as I know, the US president has stated that the United States is considering the possibility of additional regulation of deliveries of the automotive vehicles to the US market. It is a serious issue, this might really hurt the economic interests of many countries, first of all, of course, of the European ones.. It has a significant importance for the entire world's economy," Putin noted.

In late May, US President Donald Trump said that he had instructed the responsible bodies to study the possibility of imposition of new tariffs on automobile imports in the same manner as he did with respect to aluminum and steel duties.