BRI development echoing across the global community | By Muhammad Zamir Assadi

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BRI development echoing across the global community


THE development philosophy of the Belt and Road Initiative (BRI) known as the signature project of President Xi Jinping has been echoing across the international community following its splendid achievements that are benefitting people in member countries.

The statistics released by World Bank (WB) in one of its reports regarding the BRI development in partner countries show that magnanimity of the development under process based on mutual and meaningful consultations with the broadened consensus.

The report focusing on 71 economies geographically located along BRI corridors, noted that the BRI projects could help lift 7.6 million people out of extreme poverty and 32 million people out of moderate poverty globally.

It is also reported that by 2020, China’s trade with BRI partner countries exceeded 9.2 trillion U.S. dollars, and China’s aggregated direct investment in these countries reached nearly 140 billion dollars.

The figures released by the World Bank present the full confidence on the BRI that is pushing forward the agenda of fair and transparent development in various countries fulfilling the local needs of construction in various sectors.

The huge development being witnessed under the signature project of President Xi has outlined the direction and blueprint of high-quality Belt and Road cooperation.

This productive and result-oriented cooperation has attracted the attention of the international community to partner with China for achieving the reliable and secure investment based on a sustainable financial model.

The initiative has pushed the joint and accumulative efforts for producing the timely results and time bound construction with the unique traits of gains on a long term basis.

The main traits of BRI cooperation have been proving successful and contributing successfully for the significant economic development and modernization of infrastructure.

In the last 8 years since the start of BRI, implementation of new development concepts have been put into practice that have enabled the people in various countries to gain high quality results and durable gains as it also proved helpful in improving the economic environment and societal benefits.

The BRI has emerged as a tool that has been consistently focusing on mutual cooperation and strengthening the connectivity between various regions and countries along the route for maintaining the flow of trade with any interruption.

It has broadened multilateral cooperation and globalization amid the waves of protectionism by establishing an effective network of communication and understanding.

By securing the high quality development with these qualities, the initiative has energized the cooperation between China and various member-countries starting from the top to bottom that includes the smooth working relationship among governments, business enterprises and public exchanges.

The pursuit of common development is a long desire of humanity that has been introduced by BRI by maintaining the high quality supply chains, resilient development and comprehensive consultations.

In the early stages of its development, the initiative has gained the honour of satisfaction from partner countries by making its path smoother during the profound and unseen changes happening in the world.

Scientific and technical revolution along with industrial development in the era of artificial intelligence, the integration of various economies have digitized trade and commerce that have removed the traditional and non-traditional loopholes in flow of imports and exports.

It must be mentioned here that strategic resolve has been prioritized with the BRI in the fastest changing world by availing all the strategic opportunities and by aligning the concepts of peace, stability and security with the development that is the need of the time for safeguarding the integrity of nations.

Innovative and sustainable growth has become the highlighted indicator under this development initiative that has got the recognition of people centred philosophy with helping low-income countries in addressing their economic , development and debt issues.

It has been satisfactorily noted from the international financial institutions that the framework of development initiated from China with the consent of member countries have, genuinely, the policy system in avoiding the financial shocks by improving the efficiency and quality of investment.

By recording the financial sustainability for member countries of BRI, China has emerged as an engine for the conducive economic transformation and growth in the era of economic digitization.

The platform by strengthening the endeavours of international cooperation and by integrating development interests has popularized the joint working mechanism that produced substantial benefits to local people.

The notables of BRI in its smooth and fruitful journey includes the sharing of China’s new technological revolution and industrial reforms with partner countries that is being reflected from completed and continuing projects.

Recognition of BRI as a public welfare product has stamped the opening up and reforms process of China will be continued in the coming decades without any interruption for developing the shared future of mankind.

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