President Moon shared with the North Korean president his project of three new corridors that would connect the Korean peninsula to the rest of the world.
Seoul and Pyongyang soon connected to the new Silk Roads?
Towards some more balanced exchanges?
Trade between China and the BRI states increased by more than 13% in 2017. For the first time, the growth rate of imports from the BRI states (20%) was higher than that of Chinese exports (8.5%).
India and China advancing together on new Silk Roads
On April 28-29, 2018, the Indian and Chinese Presidents met in Wuhan, capital of Hubei Province. Xi Jinping and Narendra Modi discussed a number of topics including the (de)militarization of their borders and regional cooperation.
Free trade zones along the BRI
On April 30 and May 1, 2018, was held in Dubai, the fourth international conference of the WFZO (World Organization of Free Zones) gathering near 200 attendees from all continents. This conference was preceded by special workshops including one dedicated to the new Silk Roads.
A new corridor connecting China, Nepal and India?
On April 18, 2018, Chinese Foreign Minister Wang Yi proposed to his Nepalese counterpart Pradeep Kumar Gyawali during an official visit to Beijing, the creation of a new corridor of the new Silk Roads that would link Nepal to both China and India.
China is holding out a hand to the EU about BRI
According to the German newspaper Handelsblatt, 27 of the 28 European ambassadors to Beijing released a report warning their respective governments about the Chinese project of the new Silk Roads, highlighting its possible lack of transparency and criticizing the predominance of Chinese interests in this project.
IMF welcomes progress made by the BRI
IMF Managing Director Christine Lagarde noted the achievements of the BRI at a conference in Beijing on April 12, and praised this project, as IMF fights against protectionism, a threat to global trade.
From Austria to the Netherlands, Europe is willing to join the BRI
In early April, two European heads of state spoke about the BRI. When visiting China, top leaders from Austria and the Netherlands expressed their willingness to develop relations with Beijing and showed interests in the BRI.
Algeria on the new Silk Roads
After Tunisia and Morocco, Algeria may also join China’s “Belt and Road Initiative”. On March 3, 2018, for the 60th anniversary of the establishment of diplomatic relations between the two countries, the Chinese ambassador to Algiers, Yuang Guangyu, announced a future agreement that would formalize the participation of Algeria in the BRI.
Siemens BRI headquarters in Beijing
Siemens, the German high tech giant has decided to join the BRI. In late March 2018, Siemens opened a special office dedicated to the “Belt and Road initiative” in Beijing.
From this office will be organized all BRI projects in which Siemens participates, whether in China or in the other states along the new Silk Road.