2023-10-17 14:03:00
09:02 GMT, October 17, 2023
The third Belt and Road international cooperation forum opens its doors in Beijing, the capital of China, from October 17 to 18. The forum is dedicated to the international economic and infrastructure development initiative of the same name, launched by President Xi Jinping in 2013.
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The participation of delegations from more than 140 countries and more than 30 international organizations, and the number of participants registered in the forum exceeds 4,000. Russian President Vladimir Putin, his Serbian counterpart Aleksandar Vucic, Hungarian Prime Minister Viktor Orban and Vietnamese President Vo Van Thuong, among others, are among the leaders of the countries that will participate in the third Strip forum. and the Route.
Previously, in his congratulatory message to Xi Jinping on the 74th anniversary of the founding of the People’s Republic of China, Vladimir Putin noted that the upcoming conversations between the leaders of both countries during the forum will contribute to continuing to strengthen the entire range of constructive Russian-Chinese ties for the benefit of its people, in order to guarantee security and stability on the Eurasian continent and throughout the world.
Sputnik explains the main details of the New Silk Road so that you can better understand the nature and prospects of the Chinese project.
What is the Belt and Road?
The Belt and Road, also known as the New Silk Road, is an international initiative of the People’s Republic of China to improve existing trade corridors and create new ones. Its initial objective is to build infrastructure and connect Eurasian countries. It includes several areas, such as Silk Road Economic Belt y the Maritime Silk Roadamong other.
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Achievements and prospects of the Chinese initiative
The Press Office of the State Council of the People’s Republic of China recently published a White book on the launch of the New Silk Road initiative.
In the last 10 years, the initiative has attracted almost 1 billion dollars in investments and has formed more than 3,000 projects cooperation sets. According to the State Ministry of Foreign Affairs, Chinese companies have created 420,000 jobs in countries along the Belt and Road. In total, more than 150 countries and more than 30 international organizations participate in some way in the implementation of the initiative, with which China has signed more than 200 agreements of cooperation.
The White Paper affirms that the Belt and Road initiative makes participating countries more attractive for global business. For example, cross-border direct investment inflows into Southeast Asia, Central Asia and other regions, where most states have joined the Chinese initiative, are constantly increasing. Foreign direct investment in Southeast Asia represented 17.2% of the world total in 2022, which is 9% more than in 2013.
Furthermore, the scale of trade and investment between participating countries is growing under the implementation of the New Silk Road Initiative. From 2013 to 2022the total value of imports and exports between China and other member countries of the project reached 19.1 trillion dollarswith an average annual growth rate of 6,4%.
The Press Office of the State Council of the People’s Republic of China notes that the Silk Road Fund, which provides services for the implementation of the initiative, has signed agreements on 75 projects within the framework of the Belt and Road.
One of the achievements over the years of the New Silk Road initiative was the launch of the China-Europe container train. The route linked 217 cities in 25 countries.
Previous forums
The first Belt and Road International Cooperation Forum was held in Beijing on May 14 and 15, 2017. On that occasion, the heads of State and Government of 29 countries attended. In total, more than 1,600 participants representing more than 140 countries and more than 80 international organizations took part in this forum.
The second Forum took place in the Chinese capital two years following the first: April 25 to 27, 2019. 38 leaders of States and Governments attended, the total number of participants exceeded 6,000 people representing more than 150 states and 92 international organizations. Russian President Vladimir Putin also participated in the forum.
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