What is Belt and Road Initiative International Cooperation?

The foreign ministers and officials participating in the conclusion of the video meeting issued Belt and Road Initiative that China called for last Thursday under the slogan “Belt and Road International Cooperation: Combating COVID-19 with Solidarity“, as it focused on how to combat the emerging coronavirus and enhance practical cooperation between countries within the framework of the Belt and Road Initiative.

The Russian Foreign Minister delivered the written statement, as the foreign ministers and concerned ministers from Belarus, Cambodia, Chile, China, Egypt, Ethiopia, Greece, Hungary, Indonesia, Kazakhstan, Kenya, Kyrgyzstan, Malaysia, Mongolia, Myanmar, Nepal, Pakistan, Papua New Guinea, Serbia, Singapore, Tajikistan, the Kingdom of Thailand and the Emirates, participated in the conference.

The following is the text of the final statement of the Belt and Road Initiative

The foreign ministers and a group of concerned ministers and international partners concerned with the Belt and Road Initiative held a video conference titled “International Cooperation for the Belt and Road Initiative … Combating the Coronavirus Pandemic COVID-19 which was held on June 18, 2020, and on this occasion, we would like to welcome With the participation of the Director-General of the World Health Organization and the Administrator of the United Nations Development Program in the meeting.

The COVID-19 pandemic poses a serious threat to human health, safety and welfare in addition to its negative effects on the social and economic development of our countries and the world at large. Our first priorities are to contain the spread of the virus, save lives and protect public health worldwide.

In this regard, we offer our heartfelt condolences to the families and societies of the victims of this epidemic, and we also express our appreciation and support to all front-line health care workers, medical specialists, scientists and researchers, as well as workers in this field throughout the world who work under difficult conditions and challenges while dealing with this The epidemic.

The coronavirus pandemic represents a global challenge, which calls for a global response based on unity, solidarity, mutual support and multilateral cooperation. We recognize the pivotal role of the United Nations system in advancing and coordinating global comprehensive response efforts to contain and control the spread of the pandemic in addition to the efforts of Member States as well as the leading role of the World Health Organization in This respect.

We acknowledge that we all agree that there is no place for any form of discrimination, discrimination or racism, or during our fight against the pandemic.

Learn about the Belt and Road Initiative

The Opportunities and the Risks of the Corridors of Transport

Transport corridors in the Belt and Road Initiative have great potential to achieve broad improvements in trade, foreign investment, and living conditions of citizens in the countries in which they participate, but only if China and the economies that lie along these paths adopt deep policy reforms that increase transparency, and improve debt sustainability. , And it reduces environmental, social and corruption risks.

Main Economic results of the Belt and Road Initiative

1. The shortages and deficiencies in infrastructure and policies in the economies along the Belt and Road corridors impede trade and foreign investment. Providing new infrastructure facilities may help bridge these gaps, but it is expensive and investments are occurring in the context of growing public debt.

2. Transportation projects under the Belt and Road Initiative can lead to expanded trade, increased foreign investment, and poverty reduction by reducing trade costs. But for some countries, the costs of new infrastructure facilities may outweigh the gains.

3. Carrying out complementary policy reforms that may help maximize the positive impacts of transportation projects under the initiative, and ensure that the gains are widely shared. For some countries, reforms will be necessary to reap net benefits from transport projects under the initiative.

4. The Belt and Road Initiative usually carries risks for large infrastructure projects. These risks may be exacerbated by a lack of transparency, an open initiative, and weak economic fundamentals and levels of governance in many participating countries.

Source: WAM
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