NEW DELHI, October 13. /TASS/. Russia continues negotiations on conjugating the Eurasian Economic Union (EAEU) and the Silk Road Economic Belt project implemented by China, Russian Industry and Trade Minister, Denis Manturov, said at a meeting of the BRICS (Brazil, Russia, India, China, South Africa) economy and foreign trade ministers on Thursday.
"We are holding talks on harmonizing it (EAEU - TASS) with the Silk Road Economic Belt project implemented by China," he said.
In September, Chinese President Xi Jinping pointed to the need to more effectively promote the process of conjugating the EAEU and Silk Road strategies.
The Eurasian Economic Commission (EEC), a permanent regulatory body of the Eurasian Economic Union, and the Chinese Ministry of Commerce announced the launch of negotiations on the Agreement on Trade and Economic Cooperation on June 25, 2016. The future accord will be a component of harmonizing the EAEU and the Chinese Silk Road Economic Belt initiative.
The Silk Road Economic Belt is a project to create a transport, energy and trade corridor between the countries of Central and South Asia and Europe. It seeks to deepen economic cooperation and intensify scientific and technical cooperation between these countries. The idea of this project was proposed by Chinese President Xi Jinping in September 2013.