The initiative "has the potential to connect the East and the West and a variety of regions between them," Abe said in a speech at a conference Monday night.

The Belt and Road initiative, proposed by Chinese President Xi Jinping in 2013, calls for building and improving infrastructure such as railways and ports in the envisaged economic zone.

Abe said transparent and fair procurement rules are necessary for such infrastructure projects. He also underlined the need to give consideration to fiscal conditions of participating nations that will borrow from other countries.

The prime minister said he hopes the envisioned Eurasian economic zone will eventually merge with a free and fair economic bloc in the Pacific region sought by Japan.

Last month, Abe signaled a willingness to consider Japanese participation in the China-led Asian Investment Infrastructure Bank, which financially supports the Belt and Road initiative, if some questions are cleared up. (Jiji Press)