ILSTC Offers a New Path for Global Trade Interconnectivity

By Yuling Chen, Yiling Wang, iChongqing News

Chongqing- The sub-forum of New International Land-Sea Trade Corridor Practices and Prospects after the opening ceremony and plenary session took place in Chongqing, China, June 3, 2019. In the era of rapid changes in global and regional order and economic and trade development, how should countries around the world explore new and effective ways of development? 22 guests from all over the world shared their insights at the sub-forum.

Globalization needs land-sea trade interconnectivity

"The global and regional order is changing rapidly, putting pressure on countries, especially small and medium-sized one, so it is a must to make choices for survival and development," Benyamin Poghosyan, Chairman of Center for Political and Economic Strategic Studies, said and believed that countries are all experiencing changes.

"The Eurasian continent should be closely linked by way of the Belt and Road, which will bring China, Russia, and the EU closer together." He revealed that Armenia is increasing its ties with China, Georgia, the European Union, etc. Hopefully, the partnership between countries can be strengthened this way.

"Multilateral cooperation serves the interest of participated countries." Benyamin Poghosyan said that Armenia should also play an important role in this regard.

Also at the sub-forum, Liang Shuguang, executive director of the Belt and Road Strategic Research Institute of Beijing International Studies University shared similar views with Benyamin Poghosyan. Mr. Liang noted, "A community of shared future for mankind is a response to the parties concerned from all walks of life around the world,  and a goal to serve the development of multilateral interests."

Liang Shuguang believed that land-sea linkage is the core element of building a community for the future of mankind, and the fundamental driving force of new globalization. The connectivity of transportation facilities must be the vanguard of the Belt and Road practice.

"Taking global partnership as a common concept, infrastructure construction as a bridge, exploring new growth drivers for economic growth, building an open world economy as a starting point, implementing a global governance concept, all lay a solid foundation for a community of shared future for mankind," Liang Shuguang summarized the value of the Belt and Road Initiative and the New International Land-Sea Trade Corridor or ILSTC.

A more international ILSTC

Dai Yue’e, Assistant to the President of HOdo Group and Vice Chairman of Sihanoukville Special Economic Zone (SSEZ) Co., Ltd., said, "At present, 70% of the families in SSEZ work locally."

After several years of development, under the Belt and Road Initiative initiative, SSEZ has now become a landmark BRI project.

At the same time, SSEZ has fully played its role as a bridge and has closely cooperated and exchanged views on medical care, education and culture between China and Cambodia. It further promotes people-to-people bonds and enhances friendship.

Simon Ooi Tze Min, Treasurer General, Youth Wing of PKR. Member of State Executive Council of Kedah, expressed, “ILSTC offers new opportunities for global trade interconnectivity and Malaysia will benefit from it.”

“Everyone benefits from it, the transport connection is more convenient and there are newly-added jobs. All these represent the new changes brought by the ILSTC,” He said and added, “ ILSTC reduces logistics cost and brings more opportunities.”

"Now Malaysia is making every effort to achieve a domestic economic recovery. We welcome more Chinese companies to invest in Malaysia and promote infrastructure construction,” Simon Ooi Tze Min continued.

Economic and trade cooperation to promote cultural exchanges

Walid Abdelazim, Advisor of Governor of Alexandria, Professor of Alexandria University, said, "As two ancient civilizations in the world, China and Egypt have enjoyed a good friendship lasting more than 4,000 years."

"We hope that under the BRI, we can better develop the economic and trade relations between Alexandria and China, and better promote the foreign trade between the two sides," Walid Abdelazimi expressed sincere wishes.

Irena Vujović, presidium member, chairman of the supervisory committee of SNS, stated, "Our citizens in China have already seen many of BRI achievements ." BRI has made Serbia's industry a significant development, such as the construction of new roads, railways, and bridges under this framework, and many more.

In addition to economic and trade exchanges, cultural exchanges between  Serbian and Chinese have also expanded. More cities in Serbia and Chinese have become sister cities, and this kind of exchange is essential.

Li Qing, Secretary General of Guangdong Institute for International Strategies, noted, "For a long-term and steady development of BRI, we must gather the advantageous resources of various countries and regions, enhance mutual trust, strengthen communication, and pragmatically promote cooperation to achieve common prosperity."

Related links:

Belt and Road Forum for Interconnected Land-Sea Development Launched in Chongqing

Voices: Global Partnership Should be Based on Connectivity