3rd Belt and Road Forum will be a landmark event: Pakistani expert

Release time：2024-05-09 09:40:08 Source：Earthly Insights news portal

China will host the third Belt and Road Forum for International Cooperation from Oct. 17 to 18 in Beijing. It will not only be the grandest event to commemorate the 10th anniversary of the Belt and Road Initiative (BRI), but also a crucial platform for relevant parties to advance high-quality cooperation.

Initiated in 2013 by Chinese President Xi Jinping, the BRI is a visionary project that aims to promote economic cooperation among countries along the ancient Silk Road routes. The initiative seeks to create a network of railways, roads, ports, and pipelines, connecting Asia with Europe, Africa, and beyond. However, the BRI is more than a mere physical infrastructure project; it’s a multifaceted initiative that includes policy coordination, trade facilitation, financial integration, and people-to-people bonds.

A decade of significant achievements

Since its announcement, the BRI has attracted immense international support. By June 2023, China had inked over 200 BRI cooperation agreements with more than 150 countries and 30 international organizations across five continents, yielding many signature projects and small-scale impactful projects.

The BRI has witnessed substantial trade and investment since its inception. Data shows that from 2013 to 2022, the cumulative value of imports and exports between China and BRI partner countries reached $19.1 trillion, boasting an average annual growth rate of 6.4 percent. Additionally, cumulative two-way investment between China and partner countries amounted to $380 billion, including $240 billion from China.

The BRI has already achieved several remarkable milestones, fostering economic growth, technological advancement, and cultural exchanges among participant nations. The China-Pakistan Economic Corridor (CPEC) has emerged as a flagship BRI project, significantly enhancing Pakistan's infrastructure, energy, and industrial sectors, and spurring job creation and economic growth.

The expected benefits of the BRI are vast and varied. By promoting connectivity, trade, and investment, the initiative facilitates economic integration and fosters mutual understanding among diverse cultures. It spurs innovation, promotes sustainable development, and alleviates poverty by creating employment opportunities and enhancing local economies.

Anticipated discussions at the third Belt and Road Forum for International Cooperation

The upcoming forum promises engaging discussions, knowledge-sharing, and collaboration among participating countries and international organizations. The BRI stands as a testament to the power of international cooperation. As the forum approaches, the global community eagerly anticipates the opportunity to build upon the initiative's successes, fostering a future of shared prosperity, mutual respect, and enduring collaboration among nations.

It is vital to emphasize the paramount importance of the upcoming forum. The event is poised to be a significant milestone in fostering international cooperation, economic development, and global partnerships.

Representatives from over 130 countries and 30 international organizations are poised to convene in Beijing, including Pakistan’s Prime Minister Anwaar-ul-Haq Kakar, who will also undertake an official visit at China’s invitation.

One of the key aspects contributing to the importance of this summit is the esteemed presence of world leaders. Leaders from diverse nations, representing various cultures, economies, and political ideologies, are expected to attend and actively participate in the discussions. This diverse representation underscores the inclusive nature of the BRI, promoting dialogue and collaboration among nations regardless of their differences.

The upcoming forum is expected to yield promising and far-reaching outcomes. First, it aims to strengthen existing partnerships and cultivate new collaborations among participating countries, contributing significantly to economic growth and stability. Second, it will offer a platform to address common challenges like climate change, poverty, and healthcare, promoting joint efforts and knowledge sharing. Third, it will facilitate cultural exchanges and people-to-people connections, fostering a sense of global community and cooperation, paving the way for a more harmonious world.

Moreover, the forum will likely witness the signing of numerous agreements and Memoranda of Understanding (MoUs) between participating countries and organizations, reflecting a shared commitment to enhancing cooperation, trade, and investments, and, in turn, promoting mutual prosperity and development.

The upcoming forum holds immense significance in the global arena. The event will create a conducive environment for dialogue, cooperation, and progress by bringing together nations, leaders, and experts. Anticipated outcomes, such as strengthened partnerships, innovative solutions to global challenges, and enhanced cultural exchanges, are bound to have a positive and lasting impact on participating countries and the world.

It is anticipated that collective discussions among leaders from various countries will make the BRI even more productive, guiding it toward unprecedented success.

Zamir Ahmed Awan is a non-resident fellow at the Center for China and Globalization (CCG) and a sinologist at the National University of Sciences and Technology in Pakistan. Email: [email protected].

The opinions expressed in this article reflect those of the author, and do not necessarily reflect those of People's Daily Online.

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