The article is devoted to the study of the contemporary approaches on Great Silk Road by analyzing historical preconditions to the development of relations between Europe and states of Central Asia. Paper sheds light upon the historical and contemporary significance of the Great Silk Road that fostered relationship between the two continents from medieval times until nowadays. The author provides his own proposals for re-discovering of the Great Silk Road referring to the Idea of the Modern Great Silk Road in the example of the EU and Central Asian states. Especially, it is argued that under the current globalization cultural component of a dialogue between the Eastern and Western countries should be reconsidered and be given more emphasis.