Impact of «One Belt, One Road» initiatives to the economy of Central Asian countries

Abstract

“One Belt – One Road” – the Chinese initiative to create the Silk Road Economic Belt (SREB) and the Maritime Silk Road (MSR) was first announced by the Chairman of the People Republic of China Xi Jinping during his official visit to Kazakhstan and Indonesia in 2013.

The main goal of “One Belt – One Road” initiative lies in the exploration, formation, and promotion of a new model for international cooperation and development through strengthening of current regional bilateral and multilateral mechanism and structures of collaboration with the participation of China based on maintenance and development of the spirit Ancient Silk Road.

Central Asia for many centuries was a dynamic center linking regional and international communities via the historic Silk Road. Nowadays Central Asia is tremendously important for China for several reasons. Firstly, Central Asia is the gate for China to the West. All land routes which going from China to Europe or South Asia passing through Central Asian countries. Secondly, three of Central Asian countries share a border with China. There are traditional -cultural links between peoples on both sides of the border. Lastly, Central Asian countries are rich in natural resources especially in hydrocarbon reserves which is more important for the lifeline of the Chinese economy. Connectivity and trade with Central Asia are considered necessary for development and stability of Chinese foreign policy.

DOI: https://doi.org/10.24052/IJBED/V06NU02/ART-03