Enabling Growth and Progress Along the Belt and Road
The Belt and Road Initiative (BRI), proposed by president Xi Jinping in 2013, is a 20-year plan with the potential to reshape global trade. The ‘Belt’ aims to connect Chinese trade and production to Europe through Central Asia by land. The ‘Road’ will improve Chinese maritime trade to Africa, the Middle East and Europe through South East Asia.
More than just physical connections, BRI is a multifaceted global economic, diplomatic and geopolitical undertaking – driving the development of land and ocean-related infrastructure spanning nearly 70 countries, which account for 60 percent of the world’s population and about one-third of the global economy.
In enhancing trade cooperation, improving trade routes and driving infrastructure growth, BRI brings with it the potential development of free-trade zones, lowering non-tariff barriers, improving transparency and standardizing customs clearance processes, and streamlining supply chains. All factors that increase ease of doing business, and in establishing a more open global economic environment for multinational corporations.
The five main BRI projects are: Railway to London; Gwadar Port; Railway to Iran; Asian Gas Pipeline; and Khorgos Gateway. With a network that covers 58 BRI countries, Citi is strategically positioned to support the banking needs of corporate and public sector organizations as they invest, grow and expand along the Belt and Road route.