China has proposed the creation of an economic corridor that would link Russia, China, and Mongolia, Russian news agencies reported on Thursday.
Chinese Foreign Minister Wang Yi proposed the creation of a “new platform” for economic development between the three nations during a meeting in Beijing with his Mongolian counterpart Lundeg Purevsuren.
“Setting up a trilateral economic corridor is one of the key points in Chinese Silk Road Economic Belt initiative,” China’s Foreign Minister said, referring to the project to revive the ancient trade route that links China with Central Asia and Europe.
The idea of the new economic corridor coincides with the Eurasian transport corridor, which will include a high-speed train and road between Moscow and Beijing, and all points between.
“There is a huge area for cooperation existing between China, Russia and Mongolia. The construction of the China-Mongolia-Russia economic corridor would connect China’s Silk Road Economic Belt to Russia’s transcontinental rail plan and Mongolia’s Prairie Road program,” the Chinese Foreign Ministry said in a statement.
“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 said.
Wang Yi added that China will be working closely with Russia and Mongolia to draw up a roadmap and will do whatever it takes to make the project happen.
China is currently working on implementing two similar initiatives of transport corridors: a project with India, Myanmar and Bangladesh, as well as a bilateral project with Pakistan, Wang Yi said.
Last week during the annual conference of the Boao Forum for Asia (BFA), Chinese President Xi Jinping unveiled the framework for the new Silk Road and called on the world’s nations to support the project alongside the new Asian Infrastructure Investment Bank (AIIB) in order to create a ‘new regional order’ in Asia.
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