Регионы в современном мире: глобализация и Азия. Зарубежное регионоведение - стр. 32

. So, the project has a huge multiplier effect and is very attractive, not only for China, but also for other countries.

One of the active participants of the concept of «One belt – one road» is Russia, supporting it from the very beginning of the project. It is necessary to mention that at present the economic relations between China and Russia are developing very dynamically and positively. The impulse for strengthening cooperation between our countries can be considered the introduction by Western countries sanctions in 2014 against Russia and a turn of Russian foreign economic and political strategy towards the Asia-Pacific region, in particular China.

For optimal cooperation between Russia and China it is important to combine the mutual interests of both countries. The interests of the Russian Federation are related to the deepening of strategic partnership with China, in particular within the framework of the Eurasian economic Union [Efremenko, 2018. P. 48]. China relies on further rapprochement with Russia to ensure stability in the North and a strong strategic rear, investment, trade and economic energy cooperation.

On the 8th May 2015 as part of the institutionalization of cooperation Russia and China signed a Declaration on the interconnection of the Eurasian economic Union and the Silk Road Economic belt. The Declaration identified key directions of contact: investments in industrial cooperation, a development of a common logistics system, a harmonization of foreign trade legislation, a strengthening of the role of joint financial institutions and expansion of foreign exchange cooperation in the field of foreign trade. In 2016 the Memorandum according to the coordination of joint efforts to promote economic and investment cooperation in various international platforms was signed.

In May 2018 another agreement on cooperation in the economic sphere between the Eurasian economic Union and China on trade policy, technical regulation, phytosanitary control was signed. The harmonization of norms and removal of restrictions will certainly give impulse to the development of cooperation. On the 17th October 2018 during the meeting in Beijing it was proposed to accelerate the pairing of projects within the framework of the «One belt initiative”33 [Efremenko D. 2018]. This idea was also discussed at the fifth Eastern economic forum in 201934. Thus due to the active political support and stimulation of joint projects there is a significant institutionalization of cooperation between the Eurasian economic Union, the Silk Road Economic belt, the Russian Federation and China [The strategy of «The Economic belt of the silk road» and the role of the Shanghai cooperation organization, 2016. P. 16].