Any yachting company interested in China will no doubt be following progress of China’s ambitious Maritime Silk Road project, discussed at the Belt and Road Forum (BRF) for International Cooperation on 14 and 15 May.
What is the Maritime Silk Road?
The Maritime Silk Road, also referred to as the 21st Century Maritime Silk Road and China’s Belt and Road Initiative (BRI), is China’s proposal to build a Silk Road Economic Belt in cooperation with related countries.
It was unveiled by Chinese President Xi Jinping during his visits to Central and Southeast Asia in the last quarter of 2013.
The Belt and Road Initiative focuses on promoting policy coordination, connectivity and development of infrastructure and facilities such as ports, roads and rail routes, unimpeded trade, financial integration, and closer people-to-people ties through extensive consultation and joint contribution with the goal of bringing shared benefits to all.
By the end of 2016 over 100 countries and international and regional organizations had expressed an interest in participating, and more than 40 of them had signed cooperation agreements with China.
The proposed economic belt is considered the longest economic corridor in the world and aims to build a network of interconnected markets linking South Asia, West Asia, North Africa and Europe, and a strategic partnership for the South China Sea and the Pacific and Indian Oceans.
The Belt and Road Initiative
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