Since Zhang Qian’s exploration in Central Asia in Western Han dynasty, the ‘Silk Road Spirit’, which entails ‘peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit’, has been passed from generation to generation.
By improving existing platforms for financial cooperation, maintaining stability of monetary systems in Asia, building financing and credit system, etc, the Belt and Road Initiative seeks to establish a trans-national platform to deepen economic cooperation.
By removing barriers to investment and trade facilitation, eliminating both tariffs and non-tariff barriers, and collaborating with member states and establishing free-trade zones, countries would have a new trans-national trading network for better collaboration.
To address challenges arising from the political, economic, cultural and social diversity along the economic corridor, an open communication channel and cooperation network that facilitates cultural exchanges and economic development is essential.
Connectivity of facilities is a key driver in facilitating economic development and cultural exchanges along the Belt and Road. Developing multi-dimensional infrastructure projects enhance trade and economic cooperation along the land-sea-air transport routes.