ULAN BATOR, Oct. 21 (Xinhua) -- The China-proposed Belt and Road Initiative (BRI) is a grand initiative of not only regional but also global significance, Mongolian Minister of Road and Transport Development Sandag Byambatsogt has said.
This year marks the 10th anniversary of the initiative with the aim of building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road and beyond.
Describing transport as "the most important factor in the development of relations in all fields such as trade, economy, business, culture, education and society," Byambatsogt voiced confidence that "this great initiative was put forward in order to connect countries with each other by road, air, railway, and waterways, so that the countries can exchange their necessities with each other at a lower cost and in a faster time and create conditions for strengthening relations between the peoples."
Referring to it as a timely and important initiative, he said that is why Mongolia has supported the initiative from the onset and joined it.
"World leaders have proposed many initiatives. Among them, I believe that the BRI is the most effective and practical one, bringing the greatest fruitful results to the peoples and economy of the participating countries," he told Xinhua in a recent interview.
Since joining the initiative 10 years ago, Mongolia has been implementing a host of activities and projects within the framework of mutually beneficial cooperation, including the Development Road program and the Mongolia-China-Russia economic corridor, among others, said the minister.
Mongolia used to be connected to China by only one railway line. Now within the framework of the BRI, Mongolia has been working on connecting with China with five railway lines, with three new ones having already reached the Chinese border, Byambatsogt said.
As a landlocked country, Mongolia has planned to implement a major project to build six additional land ports, Byambatsogt said, inviting Chinese investors to participate in the project. ■