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Medvedev sees good prospects of linking Silk Road project and EAEU

November 05, 2016, 5:45 UTC+3 MOSCOW

"We are currently working at the government level on how to bring together the advantages of both models," Russian Prime Minister Dmitry Medvedev said

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Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© Dmitry Astakhov/Russian Government Press Office/TASS

MOSCOW, November 4. /TASS/. Several promising projects that may be implemented in the framework of linking "One Belt — One Way" and Eurasian Economic Union (EAEU) are already been developed, Russian Prime Minister Dmitry Medvedev said in an interview with the Chinese Central Television (CCTV).

"If we are talking about linking these two approaches, the direct manifestation of this may be projects connected with transporting cargoes via the territory of the Eurasian Economic Union and via the Russian territory from China to Western Europe," Medvedev said. "These transport corridors, building logistics represent a very important and interesting topic in our view, and several very interesting ideas are being considered now in this regard," he added.

"There are also other directions, including using possibilities of national markets, preparing proposals in the sphere of hi-tech and setting up production, as well as a number of other projects which we will try to implement together with our colleagues," Medvedev said.

Integration projects

The prime minister reminded that the leaders of Russia and China agreed on linking the "One Belt — One Way" project with the Eurasian Economic Union. "We are currently working at the government level on how to bring together the advantages of both models. I think it is quite realistic," he explained.

"I think that this is a good idea that may obtain a normal, comprehensive economic development, especially in the conditions when several other countries are trying to create large economic alliances," Medvedev noted adding that he means the Transatlantic Trade and Investment Partnership (TTIP) and the Trans-Pacific Partnership (TPP). "Of course, we don’t mind, there is nothing bad in that. However, it is desirable that all of this happens on the basis of transparent rules, on the basis of principles of the World Trade Organization," he stressed.

"Other countries are free to develop this kind of integration, such economic projects, but we are also able to develop our own integration projects," Medvedev said. "This linkage may in the end transform in the project of full-scale trade and economic partnership between the People’s Republic of China and Eurasian Economic Union, with establishment of free trade zones and some other elements of economic cooperation, on which we are working as well," the prime minister concluded.

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