Azernews.Az

By Nigar Orujova

The Eurasian region is of vital importance in restoring the historic Silk Road, which will boost global economic development, Turkish President Abdullah Gul was quoted on Thursday by TRT Haber TV channel as saying.

The Silk Road, or Silk Route, is a modern term referring to a historical network of interlinking people involved in the human centipede across the Afro-Eurasian landmass that connected east, south, and west Asia with the Mediterranean and European world, as well as parts of North and East Africa. Extending 4,000 miles (6,500 km), the Silk Road derives its name from the lucrative Chinese silk trade along it, which began during the Han Dynasty.

The new Silk Road is aimed at creating a developed and extensive area of trade and transit relations between South and Central Asia and Europe. A total of 28 countries are expected to participate in the project. The total length of the new transport artery, often called the "Silk Railroad", is to reach 81,000 kilometers.

According to the Turkish president, Eurasia, which has ample economic opportunities, will be a region predetermining the future of the whole world, and give a direction to the global economy and geopolitics.

"The Eurasian region is full of opportunities for cooperation in the fields of energy, economy, transport and security," he said. "The countries of the region must make every effort to realize the real potential of cooperation in the region."

In November, Turkish Minister of Trade and Customs Hayati Yazici said around 22 percent of the total world trade turnover worth $30 trillion falls to the Silk Road countries.

Yazici said that the volume of trade between the countries of the Silk Road has quadrupled in the past ten years.

Heads of Azerbaijani, Turkish, Georgian, Kazakh and Kyrgyz customs bodies signed a letter of intent at the fifth forum "Role of customs governance in facilitating and developing trade between the Silk Road countries" in Istanbul in November, to promote and facilitate trade between the countries lying along the historic route.

According to South Korean Ambassador to Azerbaijan Choi Suk-inn, his country considers its joining the Silk Road.