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For Kyrgyzstan, Silk Road Economic Belt Engenders Immense Economic Potential

Friday 25 September 2015

BISHKEK (24.kg news agency) — “The concept of the Economic Belt of the Great Silk Road generates an immense economic potential”, Deputy Prime Minister of Kyrgyzstan Valery Dil said today during the Kyrgyz-Chinese business forum.

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Valery Dil
Deputy Prime Minister of Kyrgyzstan

The Silk Road Economic Belt is the land-based component that together with the oceanic Maritime Silk Road forms One Belt, One Road, a Chinese government economic development framework for primarily integrating trade and investment in Eurasia. There are several nodes, corridors and other elements of the belt. One of the earliest nodes to take shape was the New Eurasian Land Bridge, a railway that connects China to Central Europe through Kazakhstan and Eastern Europe. Economic corridors extend across the Eurasian land mass including in regions on the periphery like the Russian Far East. The Russian government established Russian Direct Investment Fund and China Investment Corporation, a Chinese government investment agency, partnered in 2012 to create the Sino-Russian Investment Fund, which concentrates on opportunities in bilateral integration.

According to Valery Dil, the concept of creation of the Great Silk Road Economic Belt has five points. The main is creation of transport infrastructure from the Pacific Ocean to the Baltic Sea. For development of the concept there was created an international investment fund with a registered capital of $40 bln. The money will be used for various projects both in China and in the region as a whole.

“The concept of the Silk Road Belt attracts not only by its scale in geographical terms, but also by great potential for economic partnership. Kyrgyzstan will offer country and regional projects in the framework of cooperation on the Silk Road. We have an advantage in the form of a favourable geographical location and a huge energy potential”, Valery Dil said.

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