The Belt and Road Initiative has not been deterred by the COVID-19 pandemic. Most projects under the scheme have continued. Chinese Chargé d’Affaires to Malaysia Tang Rui said, describing the project as one of the most important of the decade.
He said, “Ever since it’s initiation in 2013 the BRI has quickly earned the trust and support of the international community. It is one of the most essential channels of international cooperation.”
“It is designed to connect and it has delivered. BRI has managed to effectively connect policy, trade, infrastructure, and people from many countries.”
Though BRI projects were impeded by the pandemic the vast majority remain operational. Under the BRI framework, there are more than 200 initiatives with the active participation of 138 countries and 13 international organisations.
Rui made these comments at the International Forum on a New and Inclusive Asia held digitally on December 17. The event was co-organised by Verite Research.
In 2020 for the first three quarters, the trade between China and BRI countries has beaten the downward trend and reached 6.75 trillion yuan with a year to year growth of 1.5%. Growth of trade with BRI countries is higher than the overall trade growth volume of China. Chinese FDI into BRI countries has reached US$ 13 billion which represents an increase of 70.7%.
Rui said, “With the downturn pressure of the global economy it might be more difficult to concert the development policies of BRI countries.”
The BRI initiative in the past year has signed another 29 intergovernmental cooperation agreements.
China has sent medical aid to 122 countries and medical expertise to 25 countries. Rui said, “We have shared anti-COVID-19 experiences and practices with BRI countries with no reservations.”
The China railway express to Europe has grown significantly. Over 3,000 freight trains have been operational in the first nine months of the year. This represents an 80 percent increase over 2019.
The Belt and Road Initiative is also going to focus on boosting global e-commerce with ‘Digital silk road’ initiatives.
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