The Belt and Road Forum Provides New Opportunities for International Cooperation ^Featured

Tonga was invited and Hon. Tevita Lavemaau, Minister for Finance and National Planning attended the forum.

Jointly building the Silk Road Economic Belt and the 21st Century Maritime Silk Road (Belt and Road Initiative) were proposed by the Chinese President Xi Jinping in 2013. More than two millennia ago，the people of Eurasia explored and opened up several routes of trade and cultural exchanges that linked the major civilizations of Asia, Europe and Africa, collectively called the Silk Road by later generations.

In the 21st century, China wants to work together with other countries to reignite the Silk Road Spirit - "peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit" to cope with the weak recovery of the global economy, and complex international and regional situations.

The initiative aims to promote the connectivity of Asian, European and African continents and their adjacent seas, establish and strengthen partnerships among the countries along the Belt and Road, set up all-dimensional, multi-tiered and composite connectivity networks, and realize diversified, independent, balanced and sustainable development in these countries.

In the past four years, with the support and participation of over 100 countries and international organizations, important early harvests have been reaped under the Initiative, delivering real benefits to the people of relevant countries.

Total trade between China and other Belt and Road countries in 2014-2016 has exceeded US$3 trillion, and China's investment in these countries has surpassed US$50 billion. Chinese companies have set up 56 economic cooperation zones in over 20 countries, generating some US$1.1 billion of tax revenue and 180,000 jobs for them.

The Asian Infrastructure Investment Bank has provided US$1.7 billion of loans for 9 projects in Belt and Road participating countries. The Silk Road Fund has made US$4 billion of investment.

As the host, Chinese President Xi Jinping appealed to all parties to pursue greater success of the Belt and Road Initiative and build a road for peace, of prosperity, opening up,innovation and connecting different civilizations.

To achieve this, all parties should foster a new type of international relations featuring win-win cooperation and the vision of common, comprehensive, cooperative and sustainable security, deepen industrial cooperation.

They need to establish a stable and sustainable financial safeguard system, promote land, maritime, air and cyberspace connectivity, develop global energy interconnection and achieve green and low-carbon development.

They should jointly establish a fair, equitable and transparent system of international trade and investment rules, advance the building of free trade areas, and make economic globalization open, inclusive, balanced and beneficial to all. They need to pursue innovation-driven development. A multi-tiered mechanism should be established to strengthen cultural and people-to-people exchanges.

President Xi emphasized that China is ready to enhance friendship and cooperation with all countries involved in the Belt and Road Initiative.

China will scale up financing support for the Initiative by contributing an additional RMB 100 billion to the Silk Road Fund, set up special lending schemes respectively worth RMB 250 billion equivalent and RMB 130 billion equivalent to support Belt and Road cooperation on infrastructure, industrial capacity and financing.

China will work with the Asia Infrastructure Investment Bank, the BRICS New Development Bank, the World Bank and other multilateral development institutions to support Belt and Road related projects. In the coming three years, China will provide assistance worth RMB 60 billion to developing countries and international organizations participating in the Initiative to launch more projects to improve people's well-being.

Foreign Leaders attending the Forum spoke highly of the Belt and Road Initiative. Russian President Vladimir Putin said the historical experience of cooperation between countries linked by the ancient Silk Road through Asia, Europe and Africa is important in the 21st century when the world is facing very serious challenges.

Chilean President Michelle Bachelet said the breadth of the initiative, the level of participation and its strategic dimensions, highlight its capacity to become the biggest economic cooperation project in place today. IMF Managing Director Christine Lagarde believed that the Belt and Road Initiative is about connecting cultures, communities, economies, and people, and about adding new economic flavors by creating infrastructure projects that are based on 21st-century expertise and governance standards.

Prime Minister of Greece Alexis Tsipras believed that the Initiative brings important opportunities for people-to-people contact, cultural exchanges and tourism. World Bank President Jim Yong Kim thought that the Initiative can meet the aspiration of those people living in the countries that are still in need of development support.

According to World Trade Organization Director General Roberto Azevedo, infrastructure is essential, a point also highlighted by special envoy of German Chancellor Angela Merkel, Minister of Economic Affairs Brigitte Zypries.

Major deliverables achieved at the Forum include 76 items comprising more than 270 concrete results in policy, infrastructure, trade, financial and people-to-people connectivity.

Tonga is an important development partner of China in the Asia-Pacific region which is a crucial part of the 21st Century Maritime Silk Road. The two countries enjoy high degree of mutual political trust and have broad prospect for mutually beneficial cooperation.

Over the recent years, China and Tonga have conducted very close and fruitful cooperation in infrastructure, tourism, agriculture and other fields; trade and people-to-people exchanges are gradually expanding. The two sides are discussing opening direct flight which will greatly increase their connectivity and facilitate the exchanges.

The further progress of Belt and Road Initiative will definitely create more opportunities to the pragmatic cooperation and exchanges between China and Tonga in various sectors and bring more benefits to the two peoples.

-PRC's Embassy, Tonga.