Enhancing Economic and Trade Cooperation under the Belt and Road Initiative

By Zou Zijing | chinawatch.cn | Updated: 2019-06-06 11:00

For better development, countries need to promote economic and trade cooperation under the framework of Belt and Road Initiative, said Gao Xiang, vice-president of Chinese Academy of Social Sciences.

Gao made these remarks at the Chinese Academy of Social Sciences Forum 2019.

The high-level seminar themed “Economic and Trade Cooperation under the Belt and Road Initiative: Retrospect and Prospect” was held in Beijing on May 20 to discuss solutions for challenges faced in economic and trade cooperation. 

He added that the Belt and Road Initiatives provides a platform for policy coordination in this region.

Ivona Ladjevac, head of Regional Center “Belt & Road” in Belgrade said that BRI is a geo-economic conception rather than geopolitical strategy. And it is an open and inclusive platform for development rather than an exclusive arrangement. So, it makes China deeply integrate with the world economy, and is not intended to undermine and destabilize the current global economic order.

Ladjevac stressed that the cooperative initiative contributes to mutually beneficial economic development for the countries concerned.

The BRI is a comprehensive and long-term initiative, including political cooperation, policy dialogue, trade and investment, infrastructure building, connectivity, cultural exchange vehicle and people-to-people exchange platform, not a pure economic initiative.

BRI is a platform for all participants, including the small and weak, to have a seat at the negotiation table, said Zha Daojiong, a professor in the School of International Studies and Institute of South-South Cooperation and Development in Peking University. And he pointed out that the beneficiaries went way beyond China.

And as global, regional, cross-national products and value chains were at work, he said that the future hinges on cooperation in setting rules for project establishment and dispute settlement.


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