China, Russia to Sign Deal on Primorye-1 International Transport Corridor

BEIJING (Sputnik) – On May 14-15, Beijing will host a high-level international forum within the framework of the so-called One Belt, One Road initiative. The presidents and prime ministers of about 30 states, including Russian President Vladimir Putin, have confirmed their participation in the event.

"During the 'One Belt, One Road' forum, the relevant governmental departments of China and Russia will sign an agreement on cooperation on the Primorye-1 international transport corridor," Li said at the press conference in the wake of the forum.

The development of international transport corridors, called Primorye-1 and Primorye-2, is expected to encourage trade and investment in the Russian Far East, as the improved transportation infrastructure will significantly increase cargo transit from China to the Russian port city of Vladivostok.

China's "One Belt, One Road" initiative was launched in 2013 and is aimed at developing infrastructure and strengthening ties between Eurasian countries, and focuses on the land-based Silk Road Economic Belt (SREB) and the 21st-century Maritime Silk Road.