Bank chief: Mediterranean key to Belt and Road

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Europe

The Mediterranean's position at the crossroads of the land and maritime Silk Road is unique and of strategic importance, Bank of China chairman Chen Siqing has said.

Chen made the remarks at a three-day forum of the Third Mediterranean Dialogue that concluded Saturday. Some 500 participants discussed how to promote "Belt and Road" construction projects for a more prosperous Mediterranean region.

He said construction linked to China's Belt and Road infrastructure and trade initiative has created a new platform for international cooperation and provided new energy for common development.

According to the Chinese banker, the role of the Mediterranean region becomes more and more important as the initiative rolls on.

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"Here (the Mediterranean) is the key juncture of the infrastructures along the Belt and Road. The Mediterranean's position is unique and of strategic importance, at the crossroads of land Silk Road and maritime Silk Road," he said.

In 2014, China and four Mediterranean countries decided to build the "China-Europe Continental and Ocean Expressway." Chen said China-Europe trains have already become an important means of transport in international logistics.

"In the future, we should continue to intensify the building of infrastructure in the Mediterranean region and to push forward the construction of great projects such as the Hungary-Serbia railway linking Budapest and Belgrade, as well as the shaping of a logistic and transport network linking Europe, Asia and Africa by land, sea and air," Chen said.

The Mediterranean region is one of the most popular destinations for Chinese tourists and there are increasing numbers of products moving from the Mediterranean to China, the bank chief said.

Noting that in 2016 the Mediterranean-China import-export trade volume exceeded 150 billion US dollars, Chen urged both sides to speed up trade and investment liberalization and facilitation, and expand financial and commercial exchanges in order to provide new engines for regional development.

Chen also described the region as a big market for international cooperation on Belt and Road industrial capacity.

"In the future, we should accelerate industrial capacity cooperation with countries along the Belt and Road, promote regional development and peaceful coexistence among peoples," he added.

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Source(s): Xinhua News Agency