Belt and Road initiative on trade connectivity launched to boost economic globalization

The Belt and Road cooperation initiative on trade connectivity launched by China togetherwith some 60 countries and international organizations on May 14 have told the worldtheir determination to support economic globalization.

The paper, an outcome document of the ongoing Belt and Road Forum for InternationalCooperation, is also an effort to implement Chinese President Xi Jinping’s call to build anopen world economy at the opening speech of the forum, said Zhong Shan, head of theMinistry of Commerce, also an initiator of the document.

In his speech, Xi reiterated the proposition to build a broad community of shared interestsby upholding and growing an open world economy, creating an environment that willfacilitate opening up and development, and establishing a fair, equitable and transparentsystem of international trade and investment rules.

The Chinese stance and proposition delivered by Xi was praised by the delegates and theinternational community, Zhong said, adding that the newly-launched initiative on tradeconnectivity was also seen as a step to pool wide consensus, deepen economic and tradecooperation and push forward the Belt and Road construction with joint efforts.

The minister elaborated three aspects that will be prioritized when implementing the plan.

First of all, Belt and Road should be built into an open route by persisting on the Silk Roadspirit, working together through consultation to meet the interests of all, putting headstogether and pooling consensus, he said.

The route is scheduled to be constructed into an open platform to promote cooperationand build an open world economy, Zhong explained.

The second is to explore new growth engines for trade and investment, expand space andupdate ways for trade and investment, unleash potentials for cooperation to facilitatetrade and investment growth, as well as solve bottlenecks confronted by economic growthand balance, Zhong continued.

The third is to give full play to the role of trade in boosting economic growth, maintain themultilateral trade system, accelerate the construction of free trade zones, push ahead withfree and convenient trade and investment, and seek an open, inclusive, all-benefited,balanced and win-win economic globalization, the minister added.

The initiative stemmed from the common wish of all parties to promote the Belt and Roadconstruction, Zhong said, adding that it reflects their shared aspiration to pursueintegration, high-efficiency, win-win outcome and development, as well as the joint actionto boost trade growth, two-way investment and inclusive and sustainable development.

The initiative, as an important outcome document to gather strength, seek for the truthand deal with concrete challenges, will lead the world to forge ahead, the minister pointedout.

As one important outcome of the forum, the initiative has up to now received responsefrom more than 60 countries and international organizations, and will embrace moreparticipants and supporters in future, Zhong said.

The positive momentum indicates the common wish of the participants to supporteconomic globalization and promote free and convenient trade and investment, he added.

It has also demonstrated China’s rising international status and influence as well as thepopularity of the Belt and Road Initiative among the international community, theminister concluded.

(The story is also published on People’s Daily Online)

Leave a Reply

Your email address will not be published. Required fields are marked *