Belt and Road Initiative - policy Cooperation

Added On May 17, 2017

The two-day Belt and Road Forum for International Cooperation held in Beijing ended on Monday.
The event has brought together national governments, international oganisations and businesses all discussing how to achieve this new thriving global network.
Cooperation is being organised over five key areas: policy, infrastructure, trade, financial and people-to-people connectivity.
What kind of policies will be designed to make such large-scale projects a reality? And how exactly will governments cooperate in the future? 
To help answer, today we bring you a special report looking at the first of these five key areas...  policy making.
STANDUP(ENGLISH): DU Yang, CNC correspondent
"When China proposed the Belt and Road Initiative in 2013, the aim was to  create a vast, strong trade and infrastructure network connecting Asia, Africa and Europe.
And now this weekend in Beijing, that goal is coming ever closer. That’s right, the first Belt and Road Forum being held behind me is bringing together representatives from these three continents and beyond. 
Over 1,200 delegates, including leaders from more than 20 countries and 50 international organizations, are here for the first key step towards achieving a thriving new global network.
The forum will offer many opportunities for discussion among world leaders, and the world leaders’ summit on policy coordination is worth special attention.
What kind of policies will be designed to make such large-scale projects a reality? And how exactly will governments cooperate in the future? Let  find out."
Right here, inside the National Convention Center, government officials, scholars, entrepreneurs and other key figures have come together to discuss policy coordination on trade and development. Let’s hear what they say.
Now, China's vision for the Belt and Road is to deliver benefits well beyond its borders. 
More than 40 countries and international organizations have already signed cooperation agreements with China.
One of the many successful outcomes that have come to light is the Thai-Chinese Rayong Industrial Zone. Given Thailand’s position as a key stop on the Silk Road, the country is posed to benefit tremendously.
“Thailand's Eastern Economic Corridor is an economic center in Thailand’s east which is meant to promote investment, improve the industrial sectors, trade, technology and construction. With China’s economic strategy in expanding the Belt and Road Initiative, we have already seen lots of Chinese entrepreneurs investing in Thailand’s East. For example, we have seen Chinese companies invest in tires, solar energy, electronics, spare parts, steel and so on. All kinds of enterprises have come here to invest and set up factories, which is good for both China and Thailand. The eastern economic corridor has a variety of benefits for Chinese investors, our Thailand 4.0 Economic Strategic goal is to enhance the digital and technology age and rely less on labour to lower costs and improve production. Therefore both Chinese and Thai entrepreneurs will be able to reap benefits from Thailand’s Eastern Economic Corridor and the Government’s 4.0 Economic Strategy.”
SOUNDBITE (CHINESE): XU GENLUO, Thai-Chinese Rayong Industrial Zone
"Thailand saw an increase of foreign investment in recent years, partly related to China-proposed Belt and Road Initiative and 'Go Global' strategy. When China proposed the initiative, we believed it would attract investments for Thailand, as the country is along the Belt and Road."
STANDUP(ENGLISH): DU Yang, CNC correspondent
"Due to their similarity, the Belt and Road Initiative has connected with a number of national or regional projects, including Russia-led Eurasian Economic Union, Mongolia’s Steppe Road program, Kazakhstan’s Bright Path program, Vietnam’s “Two Corridors and One Economic Circle” plan, and Europe’s JunckerInvestment Plan. 
Also as a result of policy coordination, a number of economic corridors have been proposed, starting with the China-Mongolia-Russia Economic Corridor, which was the first multilateral cooperation plan under the initiative.
That’ really a lot of connections and coordination.
And since the Belt and Road Initiative has produced promising results so early, delegates here can be confident that today’ forum will provide even more opportunities for cooperation around the world."