“Silk road” of China is not a competitor of TTP, said the Minister of transport of Malaysia

BEIJING, October 16. The initiative of China to build economic zone silk road is not a direct competitor to the TRANS-Pacific partnership (TPP), an agreement on which was recently reached. According to the newspaper “Old”, such opinion was expressed in the capital of China Minister of transport Malaysia Tiong Lai LIOU.

According to him, Kuala Lumpur “I fully support the intention of the Beijing economic to recreate the spirit of the ancient silk road to promote trade, peace and unity”. At the same time the Minister reminded that Malaysia is also involved in the TTP, although officially the agreement on accession has not yet been signed. “I am confident that these two initiatives did not conflict with each other,” added Liow Tiong Lai.

The head of the Ministry of transport also stressed “the importance of attracting Chinese capital and technologies, including a project to build high-speed railway, which will link Kuala Lumpur and Singapore”.

Talks about the formation of the TRANS-Pacific partnership started in 2005. It was planned that they will be completed in 2012, the conclusion of the underlying contract, but the terms were constantly transferred in connection with the emerging contradictions. TPP is a trade Pact, involving the complete abolition of customs duties on goods and services in the Asia-Pacific region. Originally to enter into this agreement have agreed Chile, New Zealand, Brunei and Singapore. Later negotiations have involved Australia, Vietnam, Canada, Malaysia, Peru and the USA. An invitation to become a party to the elaboration of principles for trade partnership later became Mexico and Japan.

China in 2013, put forward the idea of creating economic belt “silk road” and “Maritime silk road of the 21st century”. The first involves the construction of a transcontinental network of Railways and roads linking Asia with Europe and the Middle East. The second is the development of regional port infrastructure that will significantly strengthen trade ties in Asia and to strengthen its role as the new global economic center.