FX.co ★ Putin backs China’s One Belt One Road initiative

Russia’s president Vladimir Putin said Russia is supporting China’s One Belt One Road initiative and is ready to take an active part in the project.

In 2013, the government of China presented its strategy of economic development One Belt One Road, which is aimed at creating infrastructure and establishing ties between the countries of Eurasia. The strategy includes two main directions of development: the Silk Road Economic Belt and the Maritime Silk Road. Within the framework of this project, a corridor for direct deliveries of goods from the East to the West on more favorable terms could appear.

According to the Russian president, the tasks set by President Xi Jinping are large-scale and complex to implement, but are in line with the modern development. That is why Russia is ready to support and take part in the joint implementation of this project with the Chinese counterparts.

Putin said Beijing’s initiative reflects the general need for coordination of integration processes not only in Eurasia, but also throughout the world.

The Belt and Road Forum took place in Beijing on May 14-15. The event was attended by 29 foreign heads of state and government.