Media ININ Economy We Trust
Media IN 25th/04/2019
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has arrived to Beijing to participate in the global summit on China’s flagship Belt and Road initiative.
The Belt and Road Initiative is a key policy of President Xi Jinping and envisions rebuilding the old Silk Road to connect China with Asia, Europe and beyond with massive infrastructure spending.
Sheikh Mohammed joins 37 world leaders attending the summit, which will take place with effect from today April 25 up to 27, and one of the agenda is to discuss global debt goals.
More than 120 countries and nearly 30 international organisations have signed cooperative agreements with China on the joint construction of the Belt and Road, and half of the agreements were inked in the recent two years.
The belt and Road initiative, one of the chinese President Xi Jinping’s signature policies, combines a land “economic belt” and a “maritime-Silk road” to link China with South-East, South and Central Asia, the Arabian Gulf, North Africa and then finally with Europe.
According to world bank, the scheme is estimated to cover 30% of the global GDP, 62% of the world’s population and 75% of known energy reserves.
Mr Xi launched the Belt and Road project in 2013. The motive behind is to enhance international platform for economic co-operation, including partnerships on trade and financial investments.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai participated in the coming forum following a UAE delegation last week taking part in a conference in China on the strategy
