Liu Huaqin

(Deputy Director, European Research at the Research Center of Asian-European Cooperation of the Chinese Academy of International Trade and Economic Cooperation)

Author

Liu Huaqin is Deputy Director of European Research Department, Chinese Academy of International Trade and Economic Cooperation. A Researcher and a PhD in Economics, her research areas include regional economic cooperation under the framework of the Shanghai Cooperation Organization, Sino-Russia economic and trade cooperation, economic and trade cooperation between China and Central Asian countries, and cross-border trade.

Abstract

This paper analyzes the status quo of sub-regional economic organizations in Europe and Asia, and points out the complexity for the region to promote the construction of the Silk Road Economic Belt. In order to achieve the goals of such a belt, we need to abide by the principles of maximizing common interest, seeking common ground while reserving differences, proceeding from the easier to the more difficult, and driving trade development with investment. Meanwhile, we need to be more open-minded and take inclusive approaches in boosting regional cooperation. In order to promote cooperation effectively, we need to establish a multilevel communication and dialogue mechanism among the existing sub-regional economic cooperation organizations, seek for common interest and areas of cooperation, and take actions in areas where every side is interested and benefited mutually. On the other hand, cooperation needs to be deepened in organizations which have already established cooperative relationship, in order to set up a model for driving regional economic cooperation. The Silk Road Economic Belt is a brand new concept, hence we need to promote it in a creative way of thinking and a cooperative approach. The objective requirement of building the economic belt lies in the establishment of a mutual-beneficial cooperative model which is based on the principles of market economy. The Chongqing-Xinjiang-Europe Railway, which is called the Third Eurasian Land Bridge, has made some positive efforts. The construction of the new Silk Road needs to depend on high technologies, in order to invigorate the economic potential of the Silk Road countries. Wan Gang, Minister of Science and Technology of China, pointed out that the construction of the new Silk Road requires more information communication, and that technological innovation will make a great contribution to the cause. An old Chinese saying goes "a good start is half done". Miracles will be created in the Eurasian continent as long as every country involved unite and work together. The construction of the Silk Road Economic Belt will eventually bring forth a new pattern of regional economic integration.