28 world leaders met at the Belt and Road summit in Beijing on May 14 & 15 2017, which aims to bring Asian countries closer and open new doors with Europeans and Africans countries.
The Belt And Road Initiative
The project One Belt, One Road (一帶一路 / 一带一路) is planning to set up an intercontinental infrastructure network between Europe, Africa, Asia and China from 2013 onwards.
“The Belt and Road initiative seeks to connect 65 countries across three continents to China, thereby influencing the lives of 4.4 billion people with a total gross domestic product of US$2 trillion once the vision is realized.”
As mentioned by Hong Kong Trade and Development Council, “the Belt and Road refers to the land-based “Silk Road Economic Belt” and the seagoing “21st Century Maritime Silk Road“. The routes cover more than 60 countries and regions from Asia to Europe via Southeast Asia, South Asia, Central Asia, West Asia and the Middle East. Currently, they are accounting for some 30 per cent of global GDP and more than 35 per cent of the world’s merchandise trade.”
China Mapping Silk Road Initiative
Source: MERICS research
A Few Words from China’s President
“We need to seek win-win results through greater openness and cooperation, avoid fragmentation, refrain from setting inhibitive thresholds for cooperation or pursuing exclusive arrangements and reject protectionism.” said China’s President Xi Jinping at the Belt and Road Forum in Beijing on May 15, 2017.
China’s President Xi Jinping attends a summit at the Belt and Road Forum in Beijing on May 15, 2017. Chinese President Xi Jinping urged world leaders to reject protectionism. It happened on May 15 at a summit positioning Beijing as a champion of globalisation. Some countries raised concerns over his trade ambitions. / AFP PHOTO / POOL / THOMAS PETER (Photo credit should read THOMAS PETER/AFP/Getty Images)
We will keep you updated on the news of the Belt and Road Initiative in the future.
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Please note that you might be interested in the other related articles:
• #2 One Belt One Road – Infographic
• #3 One Belt One Road – Second Summit Held in Hong Kong
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