Allianz expects the deal to be finalised in the fourth quarter of 2024 or the first quarter of 2025.
China has criticised the Western defence alliance for its actions in the Asia-Pacific region and called on it to rethink what it is doing.
The results of the report are slated for discussion at the World Economic Forum in Davos on Thursday.
Russia claims that there are growing interest to join BRICS in the Arab world and the Asia-Pacific region.
“We plan to jointly engage in the development and production of equipment that can be used both in China and in Russia.”
U.S. House of Representatives Speaker Nancy Pelosi’s recent visit to Taiwan is part of a deliberate U.S. strategy to destabilise the region, says Mr Putin.
