CHINA TOPIX

11/21/2024 08:32:26 pm

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China Reaches Out To Russia To Join New Silk Road Initiative

China and Russia

(Photo : Reuters/Kim Kyung-Hoon) Russia's President Vladimir Putin (L) shakes hands with China's President Xi Jinping.

China has reached out to Russia with the hopes of trying to recruit the other country for the revived Silk Road trade link initiative that seeks to re-establish previous commercial trade routes between Europe and Asia.

The Silk Road is a route 6,000 kilometers long and played the center of cultural interaction through several regions of the Asian continent. The route spread out so much that the landmass connected West and East.

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The Silk Road was active during 114BC to 1450 and ended with the decline of the Mongol Empire. Until now.

The President of the Association of Chinese Entrepreneurs in Russia, Cai Guiru, expressed the hopes that Russia would also want to join the project. In a meeting with the Russian Federal Migration Service's chief, Cai said that almost US$40 billion had been used for the development of the Silk Road.

In an interview with the Sputnik news agency, Cai said he was expecting Russia to play an even bigger part in gathering more investments in this fund.

The revival of the Silk Road was introduced back into the world in 2013 by China's President, Xi Jinping.

China's aim in reintroducing the Silk Road is to improve political ties while building a better network across the Pacific Ocean and the Baltic Sea. More trading and investments would broaden settlements in national currencies.

Apart from Russia, China has also called upon North Korea and Pakistan to join the project.

As much as US$28 billion was offered last week as an investment package for Pakistan. The amount was a down payment for a US$46 billion infrastructure development program called the China-Pakistan Economic Corridor.

If China were successful in bringing together several nations for the Silk Road project, roads, ports, and railway systems would be built around to link these countries.

Kazakhstan has already invested as much as US$20 billion by 2020 into its transport industry. It is their hope to become the primary transit country between the markets of China and Europe.

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