BRI boosts infrastructure connectivity, facilitates trade, deepens cooperation

BEIJING, Oct. 18 (Xinhua) -- The Belt and Road Initiative (BRI) has boosted infrastructure connectivity, facilitated trade and investment, deepened cooperation and created more opportunities for common prosperity, said a research report on the Belt and Road development studies released Wednesday.

The report, titled "The Belt and Road Development Studies -- A Synergy Approach to Global Development," was issued by Xinhua Institute at a thematic forum on think tank exchange during the third Belt and Road Forum for International Cooperation.

The BRI strives for transportation connectivity via railroads, highways, waterways and airways to bring production and markets closer together, ensure trade is efficient and of higher quality and allow more countries to enjoy the dividends brought by interconnection and economic integration, according to the report.

For instance, the China-Laos Railway has helped convert land-locked Laos into a land-linked hub. More than 20.9 million trips were made and over 25.36 million tonnes of cargo were transported via the railway as of September 2023.

Over the past decade, the BRI has injected impetus into global trade in several ways. These efforts include creating a matrix of commodity exhibition fairs represented by the China International Import Expo to share Chinese market opportunities with the world, signing or upgrading free-trade agreements, jointly building a network of free-trade zones and promoting cross-border e-commerce.

From 2013 to 2022, China's trade in goods with BRI partner countries increased from 1.04 trillion U.S. dollars to 2.07 trillion U.S. dollars, with average annual growth of 8 percent.

The BRI aligns well with regional and global development plans and initiatives. Collaboration between BRI partner countries and various UN agencies has borne fruitful results, with the launch of projects such as the Maritime-Continental Silk Road Cities Alliance and the training of young leaders from developing countries.

Growing BRI cooperation demonstrates resilience against risks and plays a vital role in helping countries combat the COVID-19 pandemic, seek economic stabilization and protect livelihoods.

Efforts are underway to jointly build a Health Silk Road, a Green Silk Road, a Digital Silk Road and a Silk Road of Innovation, said the report.