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EEC to draw up list of priority Silk Road, EEU integration projects

08 February 2016

The Eurasian Economic Commission (EEC) will draw up a list of priority infrastructure projects to promote the integration between the Eurasian Economic Union (EEU) and the Silk Road Economic Belt by early March 2016. The relevant decision was made during the first meeting of the working group for the development of proposals concerning joint transport and infrastructure projects to couple the EEU and the Silk Road Economic Belt, BelTA learned from the EEC press service.

“The selected projects will form the core of the roadmap for cooperation between the EEU member states and China,” the press service said.

The integration of the EEU and the Silk Road Economic Belt requires the development of common systems of international logistics centers and hubs along the main international transport corridors of Eurasia, namely Western Europe-Western China, North-South, East-West, and the Northeast Passage.

The Silk Road Economic Belt will attract an inflow of investments into the transport infrastructure of the EEU member states. The upgrading of the infrastructure will expand the trade between the EEU countries and enhance their investment appeal, which in the long run will speed up the development of other sectors of economy.

During the meeting, the participants also stressed the need to map out joint measures to enhance the effectiveness and attractiveness of the transport corridors within the framework of EEU-China cooperation, including the approximation of the technology and tariff regulations.

Besides, a decision was made to hold an international forum on the integration of the EEU and the Silk Road Economic Belt.

BelTA

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