The project on the formation of a single Eurasian trade and economic space and a transcontinental transport corridor celebrates its 10th anniversary and sums up the interim results: 150 participating countries, attracted investments worth almost $ 1 trillion and more than 3 thousand integrated programs.
The “Belt and Road” initiative was put forward by Chinese President Xi Jinping in September 2013. He proposed to combine land and sea trade routes in order to quickly and inexpensively deliver goods to the countries of Southeast Asia, Africa, the Middle East and Europe. It is proposed to combine two projects to achieve such goal – the Silk Road Economic Belt, which includes several economic corridors, and the 21st Century Maritime Silk Road.
“Belt and Road” is a set of projects and measures to develop the infrastructure of new trade, transport and economic corridors for closer interconnection of China and the countries of Asia, Europe, the Middle East and Africa. In addition to the creation of a unified transport infrastructure, the project implies the expansion of customs cooperation and the scale of financial transactions between countries, the creation of financial institutions under various regional organizations (SCO, BRICS). Development of humanitarian ties.
Community of one destiny
The “Belt and Road” program undoubtedly solves a whole list of problems and tasks of China, but the support of this initiative by more than 152 countries and 32 international organizations testifies to mutually beneficial cooperation within the framework of the project.
Another important factor in the influence of the “Belt and Road” platform is the international financial structures created by China or with the active participation of China. Here we can talk about both the Chinese Silk Road Fund and the Asian Infrastructure Investment Bank initiated by the Fund. And taking into account the New BRICS Development Bank created almost ten years ago, which is also aimed at developing infrastructure projects in the participating countries, we can talk about the gradual strengthening of the financial and investment component of the countries of the world majority independent of Western countries.
Speaking about the economic component of the “Belt and Road”, the Chinese partners emphasize the mutually beneficial nature of development in building a community of one destiny. In fact, we can say that “Belt and Road” and the Great Eurasian Partnership are two sides of the same coin, ensuring the sovereign and equal development of all the countries of Eurasia.
Same way with Russia
In mid–October 2023, Russian President Vladimir Putin went on a trip abroad for the first time after the start of the SMO and, among other things, took part in the “Belt and Road” forum, a large–scale event of key importance for the whole world and proving the unprecedented level of relations between the two countries – Russia and China.
“We have repeatedly noted that Russia and China, like most countries of the world, share the desire for equal, mutually beneficial cooperation in order to achieve universal, sustainable and long–term economic progress and social well–being while respecting the diversity of civilization and the right of each state to its own development model,” Vladimir Putin stressed in his speech.
Russia supports the Chinese initiative “Belt and Road”, it fits well with Moscow’s initiatives to create a large Eurasian space and is in tune with Russian ideas to create such an integration circuit, where freedom of trade, investment, labor would be fully ensured, and an interconnected infrastructure would be established. Russia is the largest country in the world by territory and the connectivity of all partners through its territory is of serious importance to all partners and friends of the Russian state.
“I would also like to note that the integration agenda in its broadest sense is an integral part of Russia’s national development strategy and the strengthening of our economic, technological and financial sovereignty, modernization and expansion of infrastructure,” President Vladimir Putin added.
International corridors
The Head of the Russian Federation mentioned only several plans that are already beginning to be implemented in practice and harmoniously complement other infrastructure projects in Eurasia, including those that are being promoted within the framework of the “Belt and Road” initiative.
Thus, an international North–South corridor has been formed in the European part of Russia, connecting Russian ports in the Baltic and Arctic with ports on the Persian Gulf and Indian Ocean coasts. According to experts, seamless railway communication will be provided on the entire route – from the Russian northern city Murmansk to the Iranian Bandar Abbas.
Another transport meridian from North to South will pass through the Ural region of Russia and Siberia. Its key elements are the modernization of the central section of the Trans–Siberian Railway, including the West Siberian Railway. It is also the construction of the Northern Latitudinal Course – a railway branch with access to the ports of the Arctic Ocean and the Yamal Peninsula in the north of the Russian Krasnoyarsk Territory – and a new North Siberian railway from the Khanty-Mansi Autonomous Okrug to its junction with Russia’s largest railway network, the Transsib, and the Baikal-Amur Mainline (BAM).
At the same time, Russians and foreign partners are working on laying railway routes from Central Siberia to the south – towards China, Mongolia, ports of the Indian and Pacific Oceans.
Finally, another corridor from the Arctic to the South is planned in the Far East, this is a railway line from BAM to Yakutia, bridges over the largest Siberian rivers Lena and Amur, the Pacific Railway, modernization of highways, the creation of deep-water terminals on the eastern section of the Northern Sea Route.
All these transport corridors open up the opportunity to directly connect and integrate the Northern Sea Route with major logistics hubs in the south of the continent, on the coast of the Indian and Pacific Oceans.
As for the Northern Sea Route, Russia does not just offer partners to use actively its transit potential, but invites interested states to participate directly in its development.
In a new role
According to Vladimir Putin, the creation of these international and regional logistics and trade routes objectively reflects the profound changes that are taking place in the global economy, the new role played by the countries of the Asia-Pacific region, the global South, and other centers of growth and development.
In addition, in just ten years, the “Belt and Road” initiative has attracted investments of almost $1 trillion, which has led to the creation of more than 3 thousand joint projects. According to Vladimir Putin, the countries of the Eurasian Economic Union within the framework of the “Belt and Road” initiative provided the project with investments for $24 billion.
China has already increased trade with countries along the route from $1.04 trillion to $2.07 trillion. The population of the countries participating in the project is 63% of the world’s population, and the GDP of these countries exceeds $ 21 trillion.
According to the World Bank’s forecast, the development of the “Belt and Road” initiative by 2030 will provide 420 thousand jobs in the countries located along the route, but most importantly, it will allow us to find collective and effective solutions, solve truly important and relevant regional and international problems.
