UN official: Belt & Road Initiative attractive

CNC
Added On April 21, 2017

Senior UN official Igor Runov says the Belt and Road Initiative is a comprehensive approach to reestablishing the Asian Silk Road on a new technological and policy level.
 
Runov made the remarks in an exclusive interview with CNC.
 
Economy Report takes a closer look.
 
The official said the Belt and Road Initiative, proposed by China in 2013, is extremely attractive. He listed three key points to support this.
 
SOUNDBITE(ENGLISH): IGOR RUNOV, Head of IRU Permanent Delegation to the UN
"I would emphasize three points, which makes it extremely attractive. First is holistic approach to the problem, so it combines five directions as I remember from investments in infrastructure to people to people exchange so it's really a comprehensive approach to reestablishing the Asian Silk Road on a new technological and policy level. The second point is that what's also important because it's based on the very rich tradition, because Silk Road tradition existed for thousands years thousands years ago. and the third point which makes it interesting to me is a that it's not limited to the government activity, it includes civil society businesses so the public partnership idea stands behind and that would potentially make it through a powerful mechanism. It should be implemented. Implementation is so far the strongest point."
 
Runov also said he believes  better coordination would be needed to fully implement the potential of the Belt and Road Initiative.
 
SOUNDBITE(ENGLISH): IGOR RUNOV, Head of IRU Permanent Delegation to the UN
"There's many opportunities in this area since the infrastructure development is one of priorities of One Belt One Road, and appropriate mechanisms have been set up, like Silk Road Fund and AIIB, and investment bank. What is missing at this point is coordination between new facilities and traditional facilities like Asian Development Bank and World Bank. So I think better coordination would be needed to fully implement the potential of this because having money is not enough, you should have bankable project, you have well prepared documents and so on."
 
As for challenges, the official said the biggest one is the recent trend- economic nationalism, and arguments against globalization.
 
SOUNDBITE(ENGLISH): IGOR RUNOV, Head of IRU Permanent Delegation to the UN
"I would say in the global policy area, the biggest challenge is recent trend: economic nationalism, and arguments against globalization. In my view, globalization is absolutely objective process which you cannot stop. World communities a big village, so this process should not be attempted to be stopped."