The countries of the Eurasian Economic Union (EEU) have already received approximately $24 billion in investments through their collaborative efforts within the Belt and Road initiative. Russian President Vladimir Putin made this statement in an interview with the China Media Corporation.
"The countries of the Eurasian Economic Union have already attracted $24 billion in investments through their collaborative efforts within the Belt and Road initiative. This amount continues to grow as more mutually beneficial projects come into play," emphasized the Russian leader.
As Putin noted, these decisions are not only beneficial to the countries that receive loans within the framework of the initiative, but also to China. He stated, "China also benefits from the implementation of these projects by gaining access to products and conditions for its own development. All of this is established on the principles of mutual benefit."
The Russian leader emphasized that within bilateral or multilateral formats, each country has the freedom to decide what aligns with its interests. "No one imposes anything; however, the initiative facilitates and creates opportunities for development," he stressed.
According to President Putin, a similar principle applies to the development of logistics and infrastructure. He cited an example: "Recently, we constructed two bridges across the Amur River with China. In my view, this is beneficial for people, as it increases communication, and it's also advantageous for businesses and economic growth, as it boosts trade turnover."
Balanced development
In response to a question about the significance of cooperation within the Belt and Road initiative for the global community, Putin referenced the 17 sustainable development goals outlined by the UN. He emphasized that while environmental protection and addressing climate change are essential areas of focus, they are not the sole priorities.
"We mustn't overlook critical objectives like poverty reduction," he stated. "It's unrealistic to tell people in African nations, for instance, that they should solely rely on renewable energy sources like wind or solar power while denying them access to oil and petroleum products, which are more affordable. We need to maintain a balance in our decisions to ensure the well-being of people," emphasized the Russian president.
About the initiative
The Third International Belt and Road Forum is scheduled to take place in Beijing from October 17 to 18, and the Russian president intends to participate. Additionally, the Kremlin anticipates that Putin and Chinese leader Xi Jinping will find time for private, face-to-face discussions.
The Belt and Road initiative, introduced by Xi Jinping in 2013, aims to promote international, multilateral trade and investment projects involving interested countries and utilizing both Chinese and foreign capital. To date, more than 150 nations and over 30 international organizations have joined this initiative.
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Based on materials from TASS