Right time for EU to transform words into action

Pascale Delcomminette, CEO of Belgium’s Walloon Export and Foreign Investment Agency, said in a recent interview that an added advantage of her country’s competitiveness is the ability to attract foreign investment. “We are a member of the Asian Infrastructure Investment Bank,” she said with pride in her voice ahead of Premier Li Keqiang’s visit to Germany and Belgium from Wednesday to Friday, while highlighting her country’ gateway position, mature market, openness and other merits.

While almost all Western European countries followed the United Kingdom in early 2015 in applying to become the founding members of the China-proposed AIIB, Belgium chose not to; it became a member of the new multilateral financial vehicle only in 2017.

Delcomminette wisely cited the AIIB membership as part of Belgium’s competitiveness.

And she is not alone in the developed world with such an opinion. Delcomminette’s observation enriched my portfolio of findings on how the China-proposed Belt and Road Initiative would benefit Europe, following my recent intensive talks with officials and business leaders in Central and Eastern Europe and in the Mediterranean region. Two points are especially important in this context. Many believe the Belt and Road Initiative has helped them better understand long-term national prosperity and development. They now know national prosperity and development can be achieved by reducing the development gap with Western Europe.

Specifically speaking, they can exploit their

European leaders are still dividing the world into “West and East”, while China advocates “the shared destiny of humanity”.