Silk Road: Expanding Economic Opportunities
April, 11 2012Silk Road: Expanding Economic Opportunities
The Great Silk Road has historically been main a network of interconnected trade routes between China and the West going through the territory of Central Asia and CIS states. Today’s resurgence of this important link between East and West is largely backed by the efforts of Chinese Government to support trade with CIS and Estern Europe through land delivery through westerns gates in cities like Alashan Kou and Khorgos. Russia is looking to become a major player for the Silk Road economies – in everything from energy to technology.
In 2010, Russia inked a customs union deal with Belarus and Kazakhstan to create a single market of 170 million people. It hopes the agreement will boost trade and investment between the three. Wanting to reap the benefits, Ukraine has even shown interest in joining the alliance. But it’s not just former Soviet republics – Russia continues to build relations with China. Exports to China grew from $2.9 billion in 1992 to more than $20 billion in 2010. China is hoping to strengthen the ties by agreeing to invest $1 billion in a joint fund between the two nations promoting cooperation on joint projects.