Prominent international speakers on Wednesday underscored the role of the Belt and Road Initiative in fostering regional cooperation and economic integration amid the opportunities and challenges posed by global volatility.
They also highlighted the unique role that the Hong Kong Special Administrative Region plays in forging connections with countries involved in the initiative.
Speakers shared their perspectives during the policy dialogue session themed “Embracing Emerging Opportunities in Times of Economic Uncertainty”.
Hong Kong Secretary for Commerce and Economic Development Algernon Yau Ying-wah said that the BRI provides a readily accessible platform for international cooperation. He highlighted its emphasis on infrastructure development that facilitates trade and economic integration.
“It also generates investment, creates jobs, and improves living standards. Enterprises are already benefiting from enhanced targeted access, reduced trade barriers and newly acquired customers,” Yau said.
ALSO READ: 9 MOUs, 36 deals worth $1b signed as HK’s Belt and Road Summit begins
Malaysian Minister of Transport Anthony Loke Siew Fook described the BRI as an alternative pathway for developing countries to strengthen their infrastructure, which is “key for developing countries to uplift the social economy of the country”.
“For the critics of the BRI, they do not provide any alternative or any solution to that,” Loke said.
He said that Malaysia’s East Coast Rail Link, a flagship project of high-quality BRI cooperation, could further bolster trade within Southeast Asia by facilitating the industrialization of Malaysia’s hinterland.
Ahmed bin Mohammed Al-Sayed, Qatar’s minister of foreign trade affairs, praised the crucial role the BRI plays in facilitating supply-chain growth and supporting Chinese mainland and Hong Kong companies in terms of infrastructure and transportation projects.
Saudi Investment Promotion Authority CEO Khaled Al Khattaf stressed the importance of the alignment between the BRI and Saudi Arabia’s Vision 2030, particularly in areas of logistics, advanced manufacturing, digital innovations, and green technologies.
ALSO READ: Belt and Road Summit marks a decade in HK
He added, “Hong Kong has a vital role to play between East and West, which is even more critical as we navigate this shifting global landscape.”
He also highlighted the recent memorandums of understanding signed between Saudi Arabia and Hong Kong, which “provide a new institutional framework to ensure this alignment and deliver concrete results”.
Yerlan Sagnayev, vice-minister of national economy of Kazakhstan, said, “Today, economic cooperation between Kazakhstan and Hong Kong is reaching a new level, opening up wide opportunities for mutually beneficial initiatives and joint projects.”
Deputy Minister of Economy and Finance of Uzbekistan Umid Abidkhadjaev said the BRI will stimulate cooperation potential in green transition, digital infrastructure and high-quality education.
“We are very serious about high-quality education and we are really delighted to learn that Hong Kong hosts five of the top 100 universities. It is really good for conducting exchange and leveraging Hong Kong’s potential in this aspect,” he said.
Contact the writer at oswald@chinadailyhk.com
