• About
  • Advertise
  • Contact
Sunday, June 1, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home National Opinion

China’s Belt and Road Initiative @10 : A Decade Of Remarkable Achievements and Development  by Lawal Sale

Vital News by Vital News
October 14, 2023
in Opinion
0
China’s Belt and Road Initiative @10 : A Decade Of Remarkable Achievements and Development  by Lawal Sale
Share on FacebookShare on Twitter

China’s Belt and Road Initiative @10 : A Decade Of Remarkable Achievements and Development

By Lawal Sale

China’s Belt and Road Initiative (BRI), an initiative of Chinese President Xi Jinping, marks its 10th year of existence this October.

As part of the activities to celebrate the 10th Anniversary of the BRI, over 100 world leaders signatories to the initiative and cooperation partners are to assemble in Beijing between October 17 and 18 for the 3rd Belt and Road Forum with a theme: “High Quality Belt and Road Cooperation: Together for Development and Prosperity”.

BRI, also known as “New Silk Road” is a programme aimed at building a Silk Road Economic Belt and 21st Century Maritime Silk Road, in cooperation with related countries.

RelatedStories

ROADS TO REBIRTH : How Governor Ododo Is Leveraging Multilateral Partnership To Transform Road Infrastructure In Kogi State BY ISMAILA ISAH

UNDERSTANDING RUSSIA’S GREAT PATRIOTIC WAR AND VICTORY By Lawal Sale

THINK TANK: SENATOR MOHAMMED ALI NDUME’S DELIBERATE DISTORTION OF DEVELOPMENT LOANS DATA: SETTING THE RECORD STRAIGHT

2027 : THE DISTURBING ETHNIC SING SONG FROM YOBE By Modu Zanna

The Initiative was unveiled by President Xi Jinping during his visit to Kazakhstan and Indonesia in 2013 and so far, there are 152 active signatories to the cooperation agreements of the initiative from all corners of the globe.

The Initiative focuses on promoting policy coordination, connectivity of infrastructure and facilities, unimpeded trade, financial integration and closer people-to-people ties via consultative processes and joint efforts with the overall goal of bringing appreciable benefits to all.

Meanwhile, the Initiative and its core concepts have been incorporated into the schemes of the G20, the Asia-Pacific Economic Cooperation (APEC), the Association of South East Asian Nations (ASEAN) and the Shanghai Cooperation Organization.

The BRI has become an important platform for achieving the United Nations (UN) 2030 Agenda for Sustainable Development.

It is pertinent to note that since its debut in 2013, the initiative has progressed with remarkable vigour and vitality, while benefiting many countries among its members and other partners around the world through joint efforts and participation.

At the moment, the BRI has become one of the most popular international platforms that are specifically designed to promote all-round multilateral cooperation.

China and its cooperation partners have foregrounded and upheld the principle of extensive consultation, joint contribution and shared benefits.

They have also remained committed to the vision of open, green and clean cooperation, while pursuing excellent, people-oriented and sustainable development, so as to explore new opportunities and stimulate growth in the world.

In the first decade of its existence, perceptive observers have noted that the achievements of the BRI are multifaceted.

The perceptible feats include the development of cooperation partners and the promotion of the people’s well-being, among others.

The Initiative has also helped to foster new energies for economic development.

For instance, a report of the World Bank disclosed that the BRI had increased the trade of participating partners by 4.1%, attracting 5% more foreign investment and levelling up the GDP of low-income countries by 3.4%.

Similarly, as part of the accruing benefits, the GDP share of emerging and developing economies in the world has increased by 3.6% from 2012 to 2021.

The World Bank further estimated that by 2030, the BRI would generate $1.6 trillion in global revenue each year, accounting for 1.3% of global GDP from 2015 to 2030, while not less than 40 million people would be lifted out of poverty under the auspices of BRI.

Another notable achievement is that by the end of 2022, the investments of Chinese enterprises in the cooperating countries have created 421,000 local jobs, with more than 3,000 projects being executed; thus fulfilling the development aspirations of the people in many participating countries of the initiative.

In terms of financing, multilateral financial cooperation institutions such as the Asian Infrastructure Bank, Silk Road Fund and the New Development Bank were established to address potential funding challenges that could inhibit the provision of the needed infrastructure in the developing countries.

In the last 10 years, the BRI has also facilitated connectivity between China and countries along the Belt and Way route in the five priority areas.

As of the end of June 2023, China has signed more than 200 contract agreements on jointly ventures under the BRI with 152 countries and 32 cooperating partners.

And from all indications, trade has grown exponentially between China and its partners in the BRI in the past decade.

Through the BRI platform, China has been able to establish a connectivity framework involving six corridors — a unique kind of routes that significantly promoted the connectivity of landlocked countries in the Asian region such as Kazakhstan, Nepal and Laos with the world — by building roads and railways.

Besides, there is an intercontinental China-Europe freight railway, which is currently hauling goods from China to many European countries at a minimum period of time.

This freight rail express has opened up a novel channel of trade between Asia and Europe by land, thereby becoming an anchor of stability for global supply chain.

As regards the African continent, there is no gainsaying the fact that in the last 10 years, the continent has benefited from BRI’s projects massively.

This is probably due to the fact that China believes that Africa is part of the history and natural extension of the BRI.

The declaration of the Forum on China-Africa Cooperation (FOCAC) in 2018 in Beijing and its 2019-2022 African Plan emphasised that Africa occupied an important position in the BRI Cooperation.

Today, many African countries witnessed the emergence of infrastructure projects such as roads, railways, dams, airports, seaports, health facilities and sports facilities, among others.

Although the initial focus of the BRI was on Asia, Africa later received the particular attention of the Initiative with major investments in East Africa, where Beijing, under the BRI platform, initiated a range of infrastructure development projects in Kenya, Ethiopia and Tanzania.

In Kenya, the multi-million dollar Nairobi-Mombasa Standard Gauge Railway (SGR) was built for passengers and goods on that route.

In Ethiopia, a similar SGR project was executed and completed and it is known today as Addis-Djibouti railway.

In Tanzania, there is TAZARA railway linking the port city of Dar el Salam in Tanzania with Zambia’s central province.

On the other hand, Nigeria in West Africa has had a fair share of the BRI infrastructure projects in the last 10 years. Some of the projects include Abuja-Kaduna standard gauge rail line, Abuja metro rail system, Lagos-Ibadan standard gauge rail line, Lekki Deep Sea Port in Lagos, five new airport terminals in Lagos, Abuja, Port Harcourt, Kano and Enugu, Zungeru Hydro Power Plant as well as Abuja township roads.

In spite of the growing incidence of trade protectionism and unilaterism across the world, trade and infrastructure development projects involving China and African countries have continued to flourish significantly, thereby signifying deepening economic relations between the two sides.

President Xi Jinping, in his address in 2019 on the sidelines of the G20 Summit in Osaka, Japan, said that China and Africa had become strategic partners, while assuring that the fundamental aspirations of China and Africa for a robust cooperation and development would remain unchanged regardless of any external influences and extraneous factors.

The Chinese leader then reiterated that the concerted resolve of China and Africa to jointly build a closer community with a shared future would not waver.

* Lawal Sale is an Abuja-based Global Affairs Analyst. (lawalmaida1@yahoo.com)*
(vitalnewsngr.com)

Tags: Chinacooperationroadsilk
Previous Post

Tinubu Constitutes New Board For FERMA, Appoints Kashim Imam AS Chairman

Next Post

Massive Turn Out As APC Takes Guber Campaign To Kogi West

Vital News

Vital News

RelatedStories

Ododo, Minister, Other Stakeholders Laud Kogi’s Groundbreaking Annual Media Repor
Opinion

ROADS TO REBIRTH : How Governor Ododo Is Leveraging Multilateral Partnership To Transform Road Infrastructure In Kogi State BY ISMAILA ISAH

May 19, 2025
UNDERSTANDING RUSSIA’S GREAT PATRIOTIC WAR AND VICTORY By Lawal Sale
Foreign

UNDERSTANDING RUSSIA’S GREAT PATRIOTIC WAR AND VICTORY By Lawal Sale

May 1, 2025
THINK TANK: SENATOR MOHAMMED ALI NDUME’S DELIBERATE DISTORTION OF DEVELOPMENT LOANS DATA: SETTING THE RECORD STRAIGHT
Opinion

THINK TANK: SENATOR MOHAMMED ALI NDUME’S DELIBERATE DISTORTION OF DEVELOPMENT LOANS DATA: SETTING THE RECORD STRAIGHT

April 16, 2025
2027 : THE DISTURBING ETHNIC SING SONG FROM YOBE By Modu Zanna
Opinion

2027 : THE DISTURBING ETHNIC SING SONG FROM YOBE By Modu Zanna

April 15, 2025
Opinion

For The Yoruba Of Northern Nigeria By Lasisi Olagunju

April 14, 2025
Next Post
Massive Turn Out As APC Takes Guber Campaign To Kogi West

Massive Turn Out As APC Takes Guber Campaign To Kogi West

Abiodun Seeks Joint Ogun/Osun Cultural Festival As Adeleke Visits

Abiodun Seeks Joint Ogun/Osun Cultural Festival As Adeleke Visits

Kogi Guber Poll : Abejide’s Victory, A “Tsunami ” Waiting To Happen, Says ADC Campaign D-G

Kogi Guber Poll : Abejide's Victory, A "Tsunami " Waiting To Happen, Says ADC Campaign D-G

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Nigerian Footballer Found Dead Inside his Car in Italy

3 years ago

FG Disburses N471billion SFTAS Funds To 36 States

3 years ago
Rising Insecurity : Experts Raises Alarm On Looming Food Shortage In Okunland

Rising Insecurity : Experts Raises Alarm On Looming Food Shortage In Okunland

2 months ago
Ahead Of Inauguration, Kenyan President, Ruto Sends Special Envoy To Tinubu

Ahead Of Inauguration, Kenyan President, Ruto Sends Special Envoy To Tinubu

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power rescue road Security Senate students Tinubu Women
No Result
View All Result

Highlights

Nigeria Governors’ Forum Mourns Death Of 22 Kano Athletes

Gender Biases : Expert Calls For Recognition Of Achievements Of Women Engineers

IGP Drags Former AIG Owohunwa, CPs Benneth Igweh, Ukachi Peter Opara To Court Over Age Falsification, Forgery

Tragedy As 22 members Of Kano Contingent To National Sports Festival In Abeokuta Perish In Crash

24 Kwara Students Become Hygiene Champions In Dettol, WBFA Campaign

Ademola Lookman Visits, Presents CAF Award To President Tinubu

Trending

Kwara Woman Battles Aggressive Breast Cancer, Appeals for N38 million Support For Treatment
Health

Kwara Woman Battles Aggressive Breast Cancer, Appeals for N38 million Support For Treatment

by Vital News
May 31, 2025
0

A 50-year-old housewife in Ilorin, Kwara State, Mrs Victoria Taiye Emmanuel, is in urgent need of financial...

Niger Flood Disaster : President Tinubu Orders NEMA, NEPC To Commence Operations

Niger Flood Disaster : President Tinubu Orders NEMA, NEPC To Commence Operations

May 31, 2025
Nigeria Governors’ Forum  Mourns Death Of 22 Kano Athletes

NSF : Abiodun Grieves Over Death Of 22 Kano Athletes

May 31, 2025
Nigeria Governors’ Forum  Mourns Death Of 22 Kano Athletes

Nigeria Governors’ Forum Mourns Death Of 22 Kano Athletes

May 31, 2025
Gender Biases : Expert Calls For Recognition Of Achievements Of Women Engineers

Gender Biases : Expert Calls For Recognition Of Achievements Of Women Engineers

May 31, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Kwara Woman Battles Aggressive Breast Cancer, Appeals for N38 million Support For Treatment May 31, 2025
  • Niger Flood Disaster : President Tinubu Orders NEMA, NEPC To Commence Operations May 31, 2025
  • NSF : Abiodun Grieves Over Death Of 22 Kano Athletes May 31, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In