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Russia, China and Mongolia signed the Memorandum on elaborating the programme to establish the economic corridor.
According to the document, the economic corridor will be established between the three countries by aligning the development of the Eurasian Economic Union and Silk Road Economic Belt as well as “Steppe Road initiative” to facilitate transit traffic among the participants of the agreement, increase trade turnover, enhance the competitiveness of goods, boost financial and investment cooperation, and improve conditions for regional economic integration, real economic growth and joint development.
By the end of this year the programme on establishing the economic corridor will be elaborated. The programme will include the following areas for trilateral cooperation:
1. transport infrastructure and complex connectivity development,
2. improvement of trade and traffic conditions ,
3. border crossing points improvement;
4. customs control improvement,
5. financial and investment spheres,
6. energy,
7. agriculture,
8. tourism,
9. humanitarian exchanges,
10. ecology and environment conservation.