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Initiative on Promoting Unimpeded Trade Co-operation Along the Belt and Road

A Thematic Session on Trade Connectivity was the centerpiece of the Belt and Road Forum for International Co-operation, as hosted by the Ministry of Commerce on 14 May 2017. The meeting also saw the Initiative on Promoting Unimpeded Trade Co-operation Along the Belt and Road formulated on the basis of the discussions held during the course of the forum. Overall, the participants stressed their willingness to promote general co-operation with regard to the trade in services, while also looking to expand the level of trade through a variety of facilitation measures. For its part, China confirmed its intention to further open up its own market by implementing a proactive import policy and providing increased access for foreign products to enter the Chinese market. In addition the participants confirmed their willingness to strengthen investment co-operation, while exploring new and innovative investment strategies as a way of promoting additional trade. Overall, countries along the proposed routes of the Belt and Road called for greater investment in regional value chain development in order to better facilitate international production capacity co-operation, while realising mutual benefits and delivering win-win results. For its part, China pledged to accelerate its investment co-operation with the Belt and Road countries and regions. It is expected to invest up to US$150 billion in the Belt and Road countries and regions over the next five years.

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