China’s foreign minister, Wang Yi, said that China and Russia will sign the agreement. ”Practical cooperation between China and Russia is based on mutual need, seeks win-win results, and has enormous internal impetus and room for expansion. This year, our practical cooperation is expected to deliver a series of new results. (…) We will sign an agreement to work on the Silk Road Economic Belt and begin relevant cooperation. We will start strategic cooperation on the development of Russia’s Far Eastern region. And we will strengthen our cooperation on high-speed railways”, the minister said at a press conference.
The Silk Road Economic Belt is an initiative which aims at creating a viable, efficient and rapid connection between the economies of the Asia-Pacific region and European economies. The concept was launched by President Xi Jinping last year. He proposed the establishment of a transport corridor to link the region of the Pacific Ocean to the Baltic Sea, East Asia to South Asia and Middle East.