China focuses on BRI promoting its International relations: Officials

China focuses on BRI promoting its International relations Officials My Country
China focuses on BRI promoting its International relations Officials My Country

China focuses on BRI promoting its International relations Officials My Country

BEIJING: China has come out with a new diplomatic strategy, promoting its international relations through Belt and Road initiative (BRI), officials said here on Saturday.

There is no doubt that in the past five years China has been actively promoting international cooperation through the BRI and increasing assistance to other developing countries, especially the least developed countries, and doing its part in reducing development gap between the South and the North.

Certainly, the BRI is an answer to a variety of crises across the world, ranging from infrastructure bottlenecks and funding shortages to protectionism and unilateralism.

President Xi Jinping rightly pointed out at the 2018 Boao Forum for Asia (BFA) that the BRI is not an intrigue of China, as alleged by someone overseas, but aimed at benefiting more countries and people.

He also said that China will continue to pursue BRI to create new opportunities of social and economic development and in doing so help participating countries to implement the United Nations 2030 Agenda for Sustainable Development.

According to the officials, surely, Xi’s remark has provided a beacon of hope to all small, weak and vulnerable countries around the world, which are enthusiastic for partnering with China on economic, political, and infrastructural development.

The BRI, which has two main prongs – the Silk Road Economic Belt and the 21st Century Maritime Silk Road, was first put forward by President Xi in the autumn of 2013.

The BRI has since become a popular initiative and the best platform for international cooperation with the brightest prospects in the world. Some describe Xi’s signature approach to promoting economic development as the biggest development push in history. China’s Foreign Minister Wang Yi has described the initiative as a “symphony of all relevant parties”.

Undoubtedly, the initiative has had a huge impact, especially in the developing world, reinforcing China’s links to Asia, Europe, and Africa through networks of roads, ports, railways, power plants, and other infrastructure projects with gross investment of $1.2 trillion (net $880 billion) over the period 2015-2030.

Sometimes, numbers can speak for themselves. Sixty-five countries and regions are involved in the BRI with a population of 4.4 billion people and a total GDP of $23 trillion. These numbers represent 63 percent of the world population, 75 percent of energy resources, and 29 percent of the world GDP.

The total trade volume between China and other BRI countries in the period from 2014 to 2016 was around $3 trillion. So far, the initiative has won support from more than 100 countries and international organizations, over 40 of which have signed cooperation agreements with China.

According to China’s Ministry of Commerce, Chinese enterprises have made $14.36 billion of non-financial direct investment in 59 countries along the Belt and Road in 2017. According to the Asian Competitiveness Annual Report 2018,

“The BRI is closely related to economic globalization and will enhance the competitiveness of Asia.” Undoubtedly, facts indicate that BRI is China’s gift for next phase of globalization, the officials added.

China focuses on BRI promoting its International relations Officials My Country