BRI shaped structure of global economy, trade: Ambassador Haque

BEIJING (APP): Pakistan Ambassador to China, Moin ul Haque said that the Belt and Road Initiative (BRI) has largely shaped the structure of the global economy and trade, and it has completely changed and enriched the concept of regional economic integration and interconnection.

The initiative has successfully overturned some suspicions and doubts among members of the international community, and based on the principle of win-win cooperation and mutual benefit, it has built a bridge of trade, business and cultural cooperation among various members of society, Haque said while addressing at the 13th China Overseas Investment Fair here.

In the past 10 years, under the BRI, Pakistan has laid 880 kilometers of road networks, 13 new energy projects have been put into operation, and more than 8,000 megawatts of electricity have been added to the national grid.

Despite the impact of the COVID-19 epidemic and the challenges of economic recession and natural disasters, the original timetable was achieved and the projects in Pakistan were completed on time, Haque further noted.

The fruits of the BRI are clear. In the past decade, China has signed more than 200 Belt and Road cooperation documents with 151 countries and 32 international organizations, forming more than 3,000 cooperation projects, according to media reports.

The initiative has stimulated an investment scale of over $1 trillion, created 420,000 jobs for countries along the route, and lifted more than 40 million people out of poverty.