'One Belt, One Road' initiative of China

‘Connectivity’ and ‘Cooperation’ are the key words. China’s opening up for the last three decades was targeted more to the country’s eastern and coastal regions. Resultantly, there has occurred a considerable prosperity gap between its eastern and western regions. The socioeconomic development and prosperity have largely bypassed China’s central and western regions. Now, it badly needs to target its opening-up policies to its western regions. This is possible through the materialization of the New Silk Road Economic Belt (SREB). Once materialized, the SREB will connect China’s central and western regions to the huge markets of Eurasia and East Africa and help close the prosperity gap between the eastern and western regions of China, while the 21st Century Maritime Silk Road will further boost the economic prosperity in the eastern and coastal regions of the country by further enhancement of understanding and cooperation between nations and countries along the new Maritime Silk Road. The initiative is expected to usher in an unprecedented era of China’s integration and cooperation in diverse areas not only with the countries in China’s neighbourhood, but also with all the countries along the SREB and the 21st Century Maritime Silk Road in Asia, Europe and eastern region of Africa to the mutual benefit of all those countries.

As in the times of the ancient Silk Road, provinces like Shaanxi and Gansu and Ningxia region will play their due roles in forging cooperative and fruitful relations with the countries along the new Silk Road Economic Belt and in developing the central and western regions of China. Xian, Tianshui, Dingxi, Gu Yuan and Yinchuan cities were important points on the ancient Silk Road and these will again be important node cities on the new SREB. Ningxia Hui Autonomous Region with its long and glorious history and Islamic tradition will be able to help China forge win-win relationship with all the Muslim Countries along the Silk Road Economic Belt, with special focus on the Arab countries. It has, meanwhile, initiated their efforts in this regard by successfully holding China-Arab States Fairs or Expos since 2010.

As for Bangladesh, it has deeply appreciated the Chinese initiative. During her recent visit to China, the Hon’ble Prime Minister of Bangladesh, Her Excellency Sheikh Hasina, expressed Bangladesh’s support and appreciation of these great initiative that the Chinese leadership had launched. Bangladesh looks forward to cooperating with China in the implementation of these mega-projects and benefiting from them. And in that context, Bangladesh is currently working with China, India and Myanmar for early implementation of the BCIM EC (Bangladesh, China, India and Myanmar Economic Corridor) along a route which in ancient times constituted a branch of the ancient Silk Road. The first Joint Study Group Meeting of the BCIM EC was held in Kunming, the capital city of Yunnan Province in December last year (2013) and the second is scheduled to be held in Bangladesh before the close of the current calendar year (2014). Under the purview of the 21st Century Maritime Silk Road, China is expected to participate in the establishment of the planned Deep Sea Port at Sonadia in Cox’s Bazaar in the southeast of Bangladesh on the Bay of Bengal.

Some suggestions on the materialization of the new Silk Road Economic Belt

The establishment of the Belt and the Road will not, however, be an easy task. A great deal of deliberation and negotiation may be necessary among the countries along the Belt and the Road for generating necessary political interest in and support for these mega-connectivity projects and viewing mutual benefits in them and for harmonization of customs & financial rules and regulations, removal/lowering of tariff and non-tariff barriers, trade and investment facilitation, etc in order that desirable economic integration may be achieved. Steps have to be taken for facilitation of visas. Agreements would be necessary also for promotion of tourism and people-to-people contacts between the countries. Negotiation at the bilateral and multilateral levels may be commenced soon on all these matters and areas.

A major issue would be building or development of appropriate infrastructural facilities in all the counties along the ‘One Belt & One Road’ for smooth operation of the Silk Road Economic Belt and the Maritime Silk Road. Many of the countries might need financial and technical assistance in this regard. China might be required to provide a huge chunk of it. Expeditious founding of the planned Asian Infrastructure Investment Bank and early commencement of its functioning could be a major step forward in this arena. Eurasia Economic Forum (EEF) may be a good platform for action in this regard.

Expos on the Silk Road Economic Belt (SREB) and car rallies along the planned Silk Road may be held in all the countries along the Belt in a bid to give visibility to the spirit and concept of the new SREB and the philosophy behind it. A series of seminars and symposiums in the countries along the Belt and the Road may be organised to drive the “One Belt One Road” initiative home to the peoples of those countries. And the embassies and consulates of those countries in China can coordinate between the relevant authorities in their countries and those in China and extend all possible support to an early materialization of the two epoch-making projects –‘One Belt & One Road’ –launched by China.

The author is the Ambassador of the Embassy of Bangladesh to China