"Steppe road", "Belt and Road" initiatives to be integrated

GoGo.mn

2017-05-03 11:34 GMT+8

Draft for a Memorandum of Understanding between the Governments of Mongolia and China to integrate "Steppe road", "Belt and Road" initiatives was supported. 

President of the People's Republic of China Xi Jinping first proposed the Belt and Road initiative in 2013. Since then, China has using the initiative as strategies for its domestic and foreign policies as well as appealing other countries to join and collaborate. 

Belt and Road is a major strategic initiative which covers a total of 65 countries and regions including 11 countries from East Asia, 18 countries of West Asia, 8 countries from South Asia, five countries from Central Asia, 7 countries from The Commonwealth of Independent States and 16 countries from Central and East Europe. 

The main goal of the initiative is to connect countries through policy coordination and infrastructure construction as well as to cooperate in priority sectors such as trade, finance, and public communication.

Mongolia`s Steppe Road infrastructure construction program is designed to boost the Mongolian economy through trans-border transportation. In September 2014, upon Mongolia’s initiative, Mongolia, China and Russia agreed in principle to build a ‘Steppe Road’ in Mongolia, reviving a pre-modern transport network that facilitated trade between China and Russia.  

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