OBOR builds 56 trade economic zones along OBOR countries: China
Beijing: Trade volume of China along the One Belt One Road (OBOR) countries has touched to billions of dollars which is a significant for the related countries, China’s Commerce Minister Zhong Shan said at the side lines of the 12thNational People’s Congress (NPC) session on Saturday.
OBOR has initiated one hundred and eighty thousand jobs in the belt and road countries which is a historic job creation by any project in the last four years, said the minister.
During a press conference, he said that the technology of China and experiences were being shared with all of the concerned countries under OBOR initiative.
More than 20 heads of state and government, over 50 leaders of international organizations, over 100 ministerial-level officials, as well as over 1,200 delegates from various countries and regions will participate in the Belt and Road forum for international cooperation in May in Beijing., commerce minister told a huge press conference in which he also talked about China-US trade relations, China’s investment plans about Africa, structural adjustments and innovation plans and foreign direct investment.
The minister said that the forum in May will build consensus and connect development strategies of various countries as the infrastructural projects in OBOR countries were being appreciated.
“56 economic zones were being built with the investment of 18.5 billion dollars in concerned countries”, said Zhong.
Medium and long term cooperation initiatives will be announced and long-term cooperation mechanisms explored to build a closer and more result-oriented network of partnerships.
He also emphasized that trade war between China and US will not bring anything to both but the harms, so enhancing the cooperation is the only option left.
The bilateral relationship between two has a great impact on the international community.
China and US needs to tackle the differences in a wise way as any other path will not be beneficial for anyone, said the commerce minister.
He also noted that the trade volume between two countries has crossed 500 billion dollars since the bilateral relationship normalized back in 1979.
Any form of trade protectionism is not in line with the interest of the two countries, he said.
He expressed his hope that the leadership of the two countries will make the right judgment on bilateral trade ties.
The minister also mentioned that Foreign Direct Investment (FDI) inflow to China rose last month, compared with the decline of 9.2 percent in January.
Zhong Shan reiterated the government’s open attitude towards foreign investment and his confidence in realizing a relatively high FDI level last year.