China along with Russia and Mongolia initiates another Economic corridor
Bishkek, Kyrgyzstan: China-Mongolia-Russia Economic corridor will be initiated soon that will be connected with Silk Road Economic Belt to Russia’s transcontinental rail plan and Mongolia’s Prairie Road program.
According to an official statement issued by Chinese Foreign Ministry, the Foreign Minister Wang Yi floated the idea during a meeting in Beijing with his Mongolian counterpart Lundeg Purevsuren.
This idea will be furthered discussed by the Russian President Vladimir Putin and Chinese President Xi Jinping during the visit of Jinping to Moscow in May 2015. According to Russian media, talks on the project will be held in May and in June, during the St. Petersburg International Economic Forum that will be attended by Central Asian states including Kyrgyzstan.
This corridor will connect Kazakhstan, Kyrgyzstan, Tajikistan and Pakistan to Mongolia first time in history because these countries are already part of New Silk Road of China that is leading to Europe.
Chinese foreign minister Wang Yi talks with Mongolia was of the view that this corridor running across the entire Eurasian continent as a “new platform for the economic development of our three countries will benefit all the countries of the region. China will be working closely with Russia and Mongolia in drawing up a pertinent roadmap and will do whatever it takes to make the project happening.
“We are confident that this would bring economic benefit to our three countries and serve as a major boost to the economic advancement of Eurasia as a whole,” Wang Yi added.
It may be mentioned that Chinese President Xi Jinping initially proposed the idea of a new Silk Way to link China with Europe and through Central Asia and Russia during his meeting with Russian President Vladimir Putin and Mongolian President Tsakhiagiin Elbegdorj on the sidelines of the 14th summit of the Shanghai Cooperation Organization in 2014.
It may be noted that the Silk Road Economic Belt stipulates the implementation of multiple energy and infrastructure projects in various countries, including the construction of new railroads, highways and industrial parks that will start in the coming years. This will facilitate the flow of goods from the East to the West on preferential terms and will boost opportunities together with the Eurasian Economic Union (EEU). The EEU is an international organization aimed at regional economic integration. The union facilitates the free movement of goods, services, capital and labour on the territories of its member states.
