South Korea will strengthen infrastructure needed to increase economic cooperation with the Eurasian countries that have a great potential to become a major global economic block, the finance minister said Wednesday.

“We will work to establish networks required to enhance inter-connectivity in transportation, logistics, ICT and energy within the region, a move aimed at resolving barriers that companies face due to a lack of infrastructure, high logistical costs and investment uncertainty,” Finance Minister Choi Kyung-hwan told a meeting with other policymakers.

“The government plans to provide support in steps that will include strengthening footholds for economic cooperation, improving investment environment and beefing up information accessibility,” he said.

Choi noted that the Eurasian region has a high potential to grow into a major economic bloc on par with the European Union, saying South Korea will play a role in boosting economic cooperation as a country that lies between Eurasian countries and the Pacific.

He said the government will push to increase business ties with Mongolia and other central Asian countries and come up with detailed business plans necessary for each stage of cooperation. (Yonhap)