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The Belt and Road Initiatives

Updated:2017-05-20 16:17:00   Author:CGTN   Views:
China has made great progress and notable results in promoting trade connectivity and deepening trade and economic cooperation since the Belt and Road Initiative was proposed, said Vice Minister of Commerce Qian Keming at a press conference on Wednesday.
With regards to global trade, Qian said China hopes to increase trade exchanges and interactions between countries along the Belt and Road by hosting relevant events. According to statistics, in the past two years, China's trade with Belt and Road countries totaled around two billion yuan, growing faster than the average growth of global trade.

Development of Free Trade Areas (FTA)‍

In terms of the development of Free Trade Areas (FTA), Qian said China aims to establish a "high-standard FTA network". Currently, China is working with relevant countries to set up FTAs, and has established FTAs with 22 countries and regions, eleven of which are Belt and Road countries.

Economic cooperation zones

During the press conference, CGTN's reporter Wang Hui asked about the highlights and risks of the economic cooperation zones. Zhang Xingfu, deputy director of the Outward Investment and Economic Cooperation Department, said China has established 56 economic cooperation zones in 20 countries along the Belt and Road, which played important roles in promoting mutual trade cooperation.
Zhang also cited the Egyptian Suez Economic Zone, the Sihanoukville Special Economic Zone in Cambodia, and two zones in Hungary as examples. He emphasized that China will continue to strengthen the development of economic zones.