MOSCOW (Sputnik) — In 2013, Chinese President Xi Jinping proposed the construction of a new Silk Road to facilitate the direct flow of goods from the Pacific Ocean to the Baltic Sea. The megaproject is intended to connect China with Europe and strengthen economic ties between Asia, Europe and the Gulf states.
"Now, many countries are showing an active interest in the Silk Road Economic Belt initiative, multiple agreements and memorandums on bilateral and multilateral levels have been signed. Russia, as the largest neighbor and a strategic partner of China, is an important participant in the construction of the Silk Road, which has significant advantages," the ambassador pointed out.
Commenting on the cooperation in other spheres, the envoy added that China had begun construction on its leg of the Power of Siberia gas pipeline.
"Construction works have already begun in China to build the eastern string of the pipeline that has been dubbed ‘the deal of the century’ by the media," Li said.
A deal between Moscow and Beijing to supply China with Russian natural gas for 30 years was struck in May 2014. Supplies are due to begin between 2019 and 2021, gradually rising in volume from 5 billion cubic meters to 38 billion cubic meters per year.
Additionally, the two countries have signed an agreement to prepare project documents for the construction of a high-speed railway between the Russian cities of Moscow and Kazan, the ambassador said.
"Cooperation between China and Russia regarding the main line has entered the stage of practical realization," Li underscored.
The two neighbor nations have sped up a joint project to design a long-haul wide-fuselage aircraft, having "stepped up cooperation in building wide-body planes," as well as on nuclear energy, electricity, chemical industry and production of natural resources, according to the diplomat.