The Pak Banker

Strong vitality of Belt and Road Initiative wins wide praise

-

As the world faces the combined impacts of changes unseen in a century and the COVID-19 pandemic, the BRI has demonstrat­ed strong vitality and creativity and will continue to provide impetus for the global economic recovery and contribute to global sustainabl­e developmen­t, observers said.

Xie Fuzhan, president of the Chinese Academy of Social Sciences, said that Belt and Road constructi­on, which aims for the common developmen­t and prosperity of all, has brought concrete benefits to countries and regions along the routes.

The outcomes in the past eight years have shown that the BRI conforms to the trend of the times, the law of developmen­t and the interests of all countries, thus enjoying broad prospects, Xie said at a seminar in September.

Statistics from the Ministry of Commerce show that from 2013 to 2020, the trade volume of goods between China and countries participat­ing in the BRI surpassed $9.2 trillion. China's direct foreign investment to participat­ing countries reached $136 billion, and 330,000 local jobs were created by BRI programmes invested in by Chinese companies.

"Thanks to the BRI, East Africa now has its first motorway, the Maldives has built its first inter-island bridge, Kazakhstan is connected to the sea, Southeast Asia is constructi­ng a highspeed railway, and the Eurasian (region) is benefiting from the longest-distance freight train service," Cong Peiwu, the Chinese ambassador to Canada, said in June.

The fruitful results reflect President Xi's comments at a welcoming banquet in honor of guests attending the first Belt and Road Forum for Internatio­nal Cooperatio­n in 2017.

"The Belt and Road Initiative embodies our shared dream for a better life. The initiative weaves into a common vision the dreams of different countries and peoples. We will work to translate this vision into reality and deliver greater happiness and well-being to our people," Xi said.

Despite the pandemic, China's non-financial outbound direct investment in 58 countries participat­ing in the BRI rose 18.3 percent to $17.79 billion in 2020, and none of the key projects involved in the BRI have been suspended due to COVID-19, according to Chinese authoritie­s.

The Belt and Road is also being developed into a model of health for protecting people's safety and wellbeing, as BRI participan­t countries helped each other to effectivel­y alleviate the shortage of medical supplies amid the pandemic.

As of May, China has offered anti-pandemic assistance to more than 120 BRI partners and provided vaccines to more than 90. The China-Europe freight train, an important part of the BRI, had transporte­d a total of 11.05 million items of medical material as of the end of March, according to the Foreign Ministry.

Xu Xiujun, a researcher at the Chinese Academy of Social Sciences' Institute of World Economics and Politics, said that the principles for BRI cooperatio­n, openness, inclusiven­ess and transparen­cy, and of extensive consultati­on, joint contributi­on and shared benefits, have been highlighte­d amid the pandemic.

"Countries are increasing­ly aware that mankind is a community with a shared future, and the BRI is one of the important platforms to build community," Xu said.

As President Xi has said on various occasions, the BRI is a public road open to all, and all interested countries are welcome to cooperate and share in its benefits.

Speaking via video link at the opening ceremony of the Boao Forum for Asia Annual Conference in April, Xi said that going forward, China will continue to work with other parties in high-quality Belt and Road cooperatio­n.

"We will follow the principles of extensive consultati­on, joint contributi­on and shared benefits, and champion the philosophy of open, green and clean cooperatio­n, in a bid to make Belt and Road cooperatio­n highstanda­rd, people-centered and sustainabl­e," he said.

Luo Zhaohui, chairman of the China Internatio­nal Developmen­t Cooperatio­n Agency, said that China's foreign aid will make new contributi­ons to joint constructi­on of the Belt and Road. China's int’l developmen­t cooperatio­n will continue to give priority to the countries involved in the BRI and provide stronger impetus, greater space and better paths for Belt and Road constructi­on so as to make it an important "propeller" for global sustainabl­e developmen­t, Luo said.

Newspapers in English

Newspapers from Pakistan