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China in talks with Pak to revive Silk Route to improve trade

Updated: Sep 03, 2014 04:33:10pm
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New Delhi, Sept 3 (KNN) China is in talks with Pakistan, Mongolia, Uzbekistan and Kyrgyzstan to build three connective railroads to improve regional trade on the Silk Road economic belt, China Daily has reported.

According to the report, quoting head of the China Port Management Office, Huang Shengqiang said Beijing has already opened 25 international airports and land ports as well as 12 special trade areas along the economic belt within the country.

It will continue to build regional freight stations and create more trading platforms with Pakistan, Kyrgyzstan, Mongolia and Nepal, Huang was quoted by the state-run China Daily as saying.

The China Daily report said that, “Because of the greater number of cross-border rail lines that have cut down on transport times and freight costs, more Chinese cities have discovered that these links to Central Asia and Europe can help improve regional connectivity and trade on the Silk Road economic belt.”

The economic belt comprises more than 50 countries. The Silk Road is a historically important international trade route between China and the Mediterranean. As the silk comprised a large proportion of trade along this road, in 1877, it was named 'the Silk Road' by Ferdinand von Richthofen, an eminent German geographer.

The idea of the Silk Road Economic Belt was first proposed by Chinese President Xi Jinping last year and it is being seen as a major initiative on the part of China to strengthen its economic ties with various nations, including those within Asia and Europe.

The trade volume between China and countries along this economic belt rose to USD 600 billion last year and accounted for 15 per cent of the country's total foreign trade. (KNN/SD)

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