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B&R News: Chinese investment in B&R economies exceeds $70b
B&R News: Chinese investment in B&R economies exceeds $70b
18 May 2018
China has invested more than $70 billion in countries and regions involved in the Belt and Road Initiative since its inception in 2013, with commodity trade exceeding $5 trillion, according to the country's top economic regulator. China has set up 75 overseas economic and trade cooperation zones, with an investment exceeding $27 billion and created jobs for more than 200,000 local people, said Meng Wei, spokesperson of the National Development and Reform Commission, during a press conference in Beijing on Wednesday. In addition, China's Silk Road Fund has inked 19 projects with committed investment of $7 billion. Infrastructure investment and other projects within the framework of the China-proposed Belt and Road Initiative has proved beneficial for China as well as economies involved in the initiative since China held the Belt and Road Forum for International Cooperation in Beijing last May. Proposed in 2013, the Silk Road Economic Belt and the 21st Century Maritime Silk Road aimed to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. "China has signed 103 cooperation documents with 88 countries and international organizations on jointly constructing the Belt and Road Initiative during the past year. 255 of the agreements reached during last year's forum are under progress with 24 of them progressing steadily," said Meng. The 142-km-long Jakarta to Bandung high-speed railway, the first such railway in Indonesia as well as China's first overseas high-speed rail project, is currently proceeding well and has recently made several breakthroughs, she said. The cooperative rail project under the Belt and Road Initiative uses the technically advanced CR400 trains, and takes local climate and customs into consideration in its design. Lu Dongfu, general manager of China Railway, said earlier that Chinese companies will do the best to build a modern high-speed railway for Indonesia. According to Meng, other projects including the Gwadar Port in Pakistan and the second line of the China-Russia oil pipeline, are proceeding well. The China-Europe rail service has also reached 42 cities and covers 14 countries in Europe so far. The Belt and Road is an open and tolerant platform for international cooperation, and all economies are welcome to jointly participate. Some western multinationals are already participating, she added. The projects related to the initiative are mostly commercial projects, she said. However, the Chinese government will suggest the companies to release the early stage information of the projects as well as related information to the public, she said. Source: China Daily
B&R News: Personnel flow up between China and BRI participants
B&R News: Personnel flow up between China and BRI participants
16 May 2018
Personnel flow between China and other countries and regions involved in the Belt and Road Initiative rose by 31 percent between 2013, when the initiative was proposed, and last year, according to a big data report published on Monday. The number of people traveling between China and other Belt and Road countries reached 26.5 million in 2017, a year-on-year rise of nearly 5 percent after consecutive increases in previous years, according to the report, published by the Research Center of the Belt and Road Initiative with the Shanghai Academy of Social Sciences. The increase was higher between China and countries involved in the initiative, the report showed. Accumulated trips originating in China to the countries and regions involved in the initiative increased nearly by 39 percent from 2013 to 2017, compared with an increase of about 25 percent to countries and regions not involved in the initiative. Shi Nan, deputy director of the research center, said the personnel flow included all types of trips ranging from personal to business, but they believe the change was associated with the initiative, as the increase in 2013 was the most eye-catching. The report also found that routes such as Shanghai to Prague, Shanghai to Bangkok and Beijing to Tashkent are the significant bonds linking China and countries in different regions involved in the initiative. Bangkok, Singapore and Kuala Lumpur, Malaysia, are the top nodal cities of personnel flow. "The diplomatic relations between China and the Czech Republic are quite positive these years and the number of Chinese visitors to the Czech Republic grew by 52 percent, the highest growth rate of Chinese visitors to a foreign country. Pakistan and Israel came in second and third place," Shi said. Zhou Zhuo, associate professor at the Shanghai Academy of Social Sciences' Institute of World Economy, said the findings regarding personnel flow are nearly identical to how closely China is working with the other countries through the initiative. For example, an industrial park built by China and Thailand near Bangkok serves as a perfect example of China's collaboration with other countries and regions involved in the initiative, according to the Shanghai Academy of Social Sciences report on the Belt and Road Initiative published earlier this year. More than 80 Chinese enterprises and two foreign businesses, mainly automobile parts manufacturers, were operating in the industrial park at the end of 2016. Those drew more than 2,000 Chinese to work there and provided jobs to about 20,000 locals, the report said. According to the Ministry of Commerce, 56 industrial parks collaboratively constructed by China and other countries involved in the initiative are under construction, accounting for nearly three-fourth of the total of such parks around the world. Zhou said it is meaningful to look at the development of the initiative from the perspective of personnel flow, which brings innovation and trade possibilities. "The meaning of finding these nodal cities and bonds is that when China goes deeper with the initiative, it will have a clearer idea of which places may further drive the flow of commodities and capital," Zhou said. Source: China Daily
New cooperative intention reached between SRCIC and Azpromo
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New cooperative intention reached between SRCIC and Azpromo
15 May 2018
A meeting was held in Shanghai between SRCIC and an Azerbaijan delegation led by Envoy Extraordinary and Minister Plenipotentiary from the Embassy of the Republic of Azerbaijan to PRC on May 15, 2018, where a new cooperative intention has been reached between the two sides. Tian Xiaohong, SRCIC Deputy Secretary General, met with Mr. Teymur Nadiroghlu, Envoy Extraordinary and Minister Plenipotentiary from the Embassy of the Republic of Azerbaijan to PRC, Yusif Abdullayev, Vice President of Azerbaijan Export & Investment Promotion Foundation (Azpromo), and Natig Khalilov, Azerbaijan Trade Representative to China. Ms. Tian provided the Azerbaijan delegation with an introduction about the eSilkroad (www.esilkroad.com), a secure mobile communication platform for global business associations. Ms. Tian suggested that the B2B and O2O services should be employed to promote sales of Azerbaijani food products and wine products. She also said SRCIC would fully mobilize resources available to support Azpromo and other member organizations. The Azerbaijan delegation expressed their agreement with Ms. Tian and has confirmed their intention to sign a cooperation agreement with SRCIC before official program.
Member Updates: Hisarcıklıoğlu became TOBB President for the next four years
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Member Updates: Hisarcıklıoğlu became TOBB President for the next four years
15 May 2018
President Rifat Hisarcıklıoğlu was re-elected on the 74th General Assembly of the Union of Chambers and Commodity Exchanges Turkey (TOBB) on 15 May. Hisarcıklıoğlu, elected TOBB President for the first time on June 16th, 2001, will perform this task for the fifth time. M. Hisarcıklıoğlu stated in his speech that TOBB is confident in leading Turkish business community to success, “We focused on 4 main issues throughout this process. First, we increased the strength and capacity of our Chambers and Commodity Exchanges. The second issue we focused on was lobbying for our private sector abroad. We have a say in many global business organizations which we were not even able to join in the past. We have become a community which advocates the interests of our private sector all over the world. Our third priority has been to take initiative in national affairs. Fourth, we generate ideas for the increased prosperity of Turkey.” The new TOBB Board of Directors is as follows: Salih Zeki Murzioğlu (Samsun Chamber of Commerce and Industry Chairman), Cengiz Günay (Tekirdağ Chamber of Commerce and Industry Chairman), Davut Çetin (Antalya Chamber of Commerce and Industry Chairman), Oğuzhan Ata Sadıkoğlu (Malatya Chamber of Commerce and Industry Chairman), Selçuk Öztürk (Konya Chamber of Commerce Chamber Chairman), Mahmut Özgener (İzmir Chamber of Commerce Chamber Chairman), Öztürk Oran (Chamber of Commerce Chamber of Istanbul Chairman), Ayhan Zeytinoğlu (Kocaeli Chamber of Industry Chamber Chairman), Zeki Kıvanç (Adana Chamber of Industry Chairman), Faik Yavuz (Ankara Commodity Exchange Chairman), Özer Matlı (Bursa Commodity Exchange Chairman), Engin Yeşil (Diyarbakir Commodity Exchange Chairman), Tamer Kıran (Maritime Chamber of Istanbul and Marmara, Aegean, Mediterranean and Black Sea Regions Chairman). Source: TOBB
B&R News: Amid high expectation, Belt and Road Initiative brings more win-win results to Europe
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B&R News: Amid high expectation, Belt and Road Initiative brings more win-win results to Europe
15 May 2018
China's COSCO Shipping Taurus docks at Piraeus port, Greece, Feb. 26, 2018. (Xinhua/Marios Lolos) JOBS Proposed in 2013, the Belt and Road Initiative is a grand infrastructure and trade project aimed at connecting Asia with Europe and Africa along ancient Silk Road routes. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road In late February, Germany Trade & Invest and Association of German Chambers of Industry and Commerce (DIHK) jointly published a study on the B&R Initiative, showing that 900 billion U.S. dollars had been invested in projects since 2013. According to the study, the initiative creates a huge economic zone between Asia and Europe, serving as an important driving force for globalization. Before China's COSCO Shipping came into the Piraeus port in Greece, the "Pearl of the Mediterranean" was listed 93 in the world ranking of cargo tonnage, and now it has climbed to the 38th. Cargoes loaded and unloaded at the port totaled 3.74 million TEUs (20-foot equivalent units) in 2016, up from 880,000 TEUs in 2010, when COSCO Shipping's subsidiary Piraeus Container Terminal took over the management of Piers II and III. COSCO Shipping is expected to help create 125,000 jobs in the region in the very near future. In recent years, Duisburg suffered from faltering growth. With the help of the China Railway Express (CRE), volume at the Port of Duisburg grew by 30 percent in 2017, making it the fastest growing port in Germany. More than 6,000 jobs in logistics have been created for the city, Johannes Pflug, responsible for China affairs in the Duisburg municipality, told Xinhua, adding "we are beneficiary of the CRE trains." Matteo Bressan, an analyst at NATO Defense College Foundation based in Rome, cited various figures to show that the initiative affects billions of people and involves trillions of dollars in business. "It is evident that with these numbers we are facing an ambitious project ... (which) encourages new forms of win-win cooperation," Bressan told Xinhua, noting that Italy faces a great opportunity to become a hub of Chinese goods with its ports. The recreation of the ancient Silk Road evokes a past characterized by trade, mutual knowledge and cultural development, Bressan said, calling the initiative "unprecedented." Austrian President Alexander Van der Bellen (2nd R Front) and other guests inspect a new China-Europe freight train from Chengdu to Vienna at the Vienna South Freight Center in Vienna, Austria, on April 27, 2018. (Xinhua/Pan Xu) WIN-WIN On April 27, a new China-Europe freight train arrived in Vienna, carrying 41 containers of goods valued at 1.5 million U.S. dollars, and included LED displays, tires and lamps. Departing from China's southwest city of Chengdu 15 days ago, the train traveled 9800 km through Kazakhstan, Russia, Ukraine and Slovakia before pulling into the Vienna South Freight Center. The China-Europe rail service is considered a significant part of the B&R Initiative. It is expected to boost trade between China and Europe, China's largest trading partner. For Kosta Gouliamos, rector of European University Cyprus, the initiative has shown its massive effectiveness of strengthening international cooperation. He noted that during the past five years, especially after last year's Belt and Road forum, construction of numerous projects have commenced, and some of the projects had delivered real benefits to the locals and the regions. "China's Belt and Road Initiative has triggered the impulse for modernization in the areas far beyond Asia," said Volker Dreier, deputy CEO of DIHK, adding that it has great importance to the whole Germany. "The strength of companies from Germany and China can complement each other and there is great potential for them to build long-term win-win cooperation," Lothar Herrmann, CEO of Siemens Greater China, told Xinhua. Carl Fey, professor of International Business at Finland's Aalto University School of Business, said he was impressed to see the initiative develop into "a very sophisticated policy with many details linking many important parts together." Echoing Fey, Francis Gurry, director-general of the World Intellectual Property Organization, told Xinhua that the initiative is expected to enhance greater international cooperation while fostering ties between participating countries. "I think the Belt and Road Initiative will support the multilateral framework, enabling participating countries to reinforce and use the international agreements that are in place," said Gurry. Source: Xinhua News Agency
Member Updates: ICC Pakistan released 2017 Annual Report
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Member Updates: ICC Pakistan released 2017 Annual Report
11 May 2018
SRCIC events included in the Annual Report ICC Pakistan issued its 2017 Annual Report, which summed up fruitful outcomes in several categories, including arbitration, environment and energy, financial services and insurance, banking techniques and practice, IRT-TIR, taxation, and intellectual property. It also highlighted important events, which included the 2017 Silk Road Business Summit, SRCIC’s 2nd Anniversary Celebration, and the SRCIC General Assembly. ICC Pakistan plays an important role in SRCIC’s development as it was one of the first state-level chambers to join SRCIC. The Chairman of ICC Pakistan, Mr. Tariq M. Rangoonwala, also serves as the Vice Chairman of SRCIC. Over the past two years, SRCIC has celebrated several great achievements with the guidance and support of Mr. Rangoonwala and ICC Pakistan. ICC Pakistan and SRCIC will continue to develop their partnership and pragmatic cooperation in the near future.
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