UN Secretary General António Guterres, Russian President Vladimir Putin and other world leaders expressed praise for China’s Belt and Road Initiative (BRI) at the opening ceremony of the third Belt and Road Forum for International Cooperation in Beijing, China on Wednesday. 

Loop News was present at the opening ceremony in Beijing where both Guterres and Putin spoke on the project’s achievements which focuses on infrastructural support and projects for developing countries. 

President Xi said China has become a main trading partner of more than 140 countries and territories and is a primary source of investment for more countries.

“What has been achieved in the past 10 years demonstrates that Belt and Road cooperation is on the right side of history. It represents the advancing of our times, and it is the right path forward.

“We need to remain clear-eyed and undisturbed in a volatile world, and we need to be keenly aware of our responsibility for history, for the people and for the world. We should jointly address various global risks and challenges, and deliver a bright future of peace, development, cooperation and mutual benefit for future generations.”

Xi also outlined eight goals for the BRI moving forward including expanding the China-Europe Railway Express and the development of a new logistics corridor across the Eurasian continent via road and rail. 

China also intends to develop the Maritime Silk Road with the creation of a New International Land-Sea Trade Corridor and Air Silk Road. 

President Xi said China also intends to remove all restrictions on foreign investment access in the manufacturing sector and to expand market access for digital and other products – China expects its total trade in goods and services to exceed US$32 trillion and US$5 trillion respectively. 

The project also aims to focus on “small yet smart” livelihood programs – to this end, the China Development Bank and the Export-Import Bank of China will each set up a RMB 350 billion financing window.

An additional RMB 80 billion will be injected into the Silk Road Fund. Together, they will support BRI projects on the basis of market and business operation, he said.

China will also carry out 1,000 small-scale livelihood assistance projects, and enhance vocational education cooperation through Luban Workshops and other initiatives.

Xi said efforts will be made to ensure the safety of BRI projects and personnel.

Xi said China will continue to focus on green development, deepening cooperation in areas such as green infrastructure, green energy and green transportation, and step up support for the BRI International Green Development Coalition.

He said China will continue to hold the BRI Green Innovation Conference, and establish dialogue and exchange mechanisms for the solar industry and a network of experts on green and low-carbon development.

China will also implement the Green Investment Principles for the Belt and Road, and provide 100,000 training opportunities for partner countries by 2030.

China also plans to step up tourism development and has launched the International Tourism Alliance of Silk Road Cities.

He said China will also continue its government scholarship Silk Road Program.

UN Secretary General António Guterres supported the infrastructural development aims of the program:

“The Belt and Road demonstrates that we have a historic opportunity to build modern, green cities, communities and transportation and power systems that place resilience and sustainability at the heart.

“Developing countries will need massive support for a fair, equitable and just energy transition toward renewables while providing affordable electricity to all.”

He also called for an immediate ceasefire in the Israel-Palestine conflict following reports of a strike which led to hundreds of deaths at Gaza City hospital on Tuesday. 

More than 150 countries and over 30 international organizations have signed Belt and Road cooperation documents – eight of 15 CARICOM countries are now members of the BRI. 

Trinidad and Tobago will commission the Caribbean’s first BRI project, the Phoenix Park Industrial Estate, this year. The facility is designed to give key market and trade access to tenants providing goods and services within the Latin American and Caribbean region. 

Trinidad and Tobago became the first Caricom country whose trade with China exceeded US$1 billion.