Belt & Road Initiative: Over 700 representatives gather to discuss cooperation under BRI
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The first Belt & Road Trade and Investment Forum has opened in Beijing. Over 700 business representatives, scholars and government officials from 70 countries and regions discussed ways to enhance cooperation in infrastructure and trade investment. And as trade protectionism becomes part of a strategy for some countries, the talk of globalization and free trade was certainly hot at the forum. CGTN's Hou Na tells us more.
Becoming closer than ever, China's massive initiative to recreate trade routes stretching from Asia to Africa and Europe is gaining momentum.
PETER MIHOK CHAIRMAN, WORLD CHAMBERS FEDERATION "What we appreciated very much is the large opening of the Chinese market and we appreciate very much that you will organize the first import Expo here in China. It is a sigh that you are really supporting globalization and the liberal market."
Mihok hails China's effort in promoting global trade under the Belt and Road Initiative, adding that connectivity and openness is key for trade.
YASSIN SAEED AL-SUROOR PRESIDENT, ARAB ECONOMIC & BUSINESS GROUP "China is the largest exporter to Saudi Arabia. We believe with the Silk and Road Initiative we can expand a lot of investment, especially on the Public Private Partnership."
HOU NA BEIJING "At the forum, Chinese businesses have been encouraged to bring e-commerce, big data, cloud computing, and artificial intelligence services to countries along the BRI trading routes to help them develop a digital economy. At the same time, how to counter trade protectionism has become a key topic among participants."
Most recently, President Xi Jinping reiterated the promise to open up markets from banking to auto manufacturing, His speech at the Boao Forum also warned against returning to a "Cold War mentality'' amid trade disputes with the US.
PHILIP KUCHARSKI CHIEF OPERATING OFFICER, INTERNATIONAL CHAMBER OF COMMERCE "Nobody can ever win a trade war. Protectionism is a disease, it is like cholesterol. Trade is what keeps up the blood flowing. We are absolutely oppose to protectionism of all sort. ICC was created to really promote not only open trade but responsible and sustainable trade."
KIPRONO KITTONY NATIONAL CHAIRMAN, KENYA NATIONAL CHAMBER OF COMMERCE & INDUSTRY "China needs to get more market access and capacity building to Africa so as to deal with problems of poverty in some countries and to allow more trade to take place. Now I think the trade is more one-sided."
Officials say plans are underway to boost innovation in overseas investments, improve efficiency in foreign aid, step up cooperation, as well as deepen regional economic and trade cooperation. HOU NA, CGTN, BEIJING.