The Belt and Road Initiative
The Belt and Road initiative provides a visionary blueprint for global economic development in the new world order. Taking reference from the historic Silk Road, which transformed the nature of international trade links in ancient times, the Belt and Road Initiative offers a modern-day solution that fosters inclusive growth and development in the 21st century.
The Belt and Road refers to the land-based “Silk Road Economic Belt” and the seagoing “21st Century Maritime Silk Road”. The routes cover more than 60 countries and regions from Asia to Europe via Southeast Asia, South Asia, Central Asia, West Asia and the Middle East, currently accounting for around 31 per cent of global GDP and around 34 per cent of the world’s merchandise trade.
By 2050, the Belt and Road region aims to contribute 80 per cent of global GDP growth, and advance three billion more people into the middle class.
