EBRD region should benefit from Belt and Road Initiative

Economies along the route of the Belt and Road Initiative can benefit from the initiative by seeking further economic integration, greater investment and better governance. “The continued focus on strengthening institutions, investing in sustainable infrastructure and integration into the global economy should remain the priority for Central Asian economies,” said Sergei Guriev, chief economist at the European Bank for Reconstruction and Development (EBRD).

It comes as one example in a larger picture where China and 16 Central and Eastern European Countries (CEEC) have quickened their economic exchange under the “16+1” cooperation format in realizing goals of the Belt and Road Initiative that is intended to improve infrastructure and trade between China and Europe and Africa.

Also in Serbia, the first phrase of Expressway E763, built by a Chinese company, is expected to complete by the end of the year. Another upbeat story like the one in Serbia was also told in Poland when China’s Liugong Group, five years after acquiring the machinery unit of Poland’s Huta Stalowa Wola (HSW), remade it into a profitable joint venture that has paid taxes and dues for about 68 million U.S. dollars during past four years while creating jobs.

(Xinhua News Agency and China Daily)