The Northern Sea Route enables all EEU members to take part in global projects to develop the Arctic

This announcement was made by Centre for Eurasian Studies Director Andrei Rusakov, the Regions Information Agency reports.

“China has a project for a transport corridor from Asia to Europe called the Silk Road Economic Belt. Meanwhile, Russia has its own Silk Road – the Northern Sea Route, which makes it cheaper and safer to transport freight from one continent to another via the Arctic Ocean,” Rusakov noted.

The number of companies wishing to redirect freight via this route is growing each day, he said.

“The participation of any companies from Eurasian Economic Union countries in the Arctic’s development will provide them with both orders and revenue,” he said.