The members of the Asian Peace and Reconciliation Council (APRC) have discussed the impact of China-led ‘‘One Belt, One Road’’ on peace and prosperity on the regions covered by this initiative in the coming decades.

The meeting, held yesterday, had its topic titled, “the Belt and Road Initiative (BRI): Its Impacts on Peace and Prosperity”.

“For this year Public Forum, we have chosen this topic because it is more than evident that China’s BRI is becoming one of the most important strategy to be implemented in Asia and Eurasia with unprecedented consequences on peace, security and prosperity in the next several decades,” said Mr Surakiart Athirathai, Chairman of Asian Peace and Reconciliation Council.

The BIR when implemented will transform the economic map of Asia to Eurasia and Europe.

The Belt and Road initiative also known as “One Belt, One Road” aims to deepen and expand the land, sea and air linkages across the Asian continent to central Asia or the pan Eurasia to Europe with a web or commercial activities, economic vitality and development.

Under the Belt and Road initiative, over 40 countries in Asia will benefit from the improved infrastructure especially areas related to sea, airports, roads, railroads, oil and gas pipelines.

This will obviously benefit trade, both in goods and services, especially tourism, investment, consumption and capital markets in Asia.

Deputy Prime Minister Sonexay Siphandone highlighted that the idea of “The Belt and Road Initiative” has been the limelight of the day when many countries are trying to clamour for connectivity, sustained economic growth and foster sustainable development.

“The Belt and Road Initiative” or “the Silk Road Economic Belt and the 21st Century Maritime Silk Road” was first proposed in 2013 by Chinese President Xi Jinping during his official visits to Central Asia and Southeast Asia.

“The Belt and Road Initiative” is an ambitious economic strategy and vision, which calls for a concerted effort of countries along the route to enhance policy coordination, facilitates connectivity, unrestrained trade, financial integration and people-to-people exchanges. The initiative is proposed to be implemented through bilateral and multilateral cooperation.

It is worth noting that, if this mega project is being realized, it will complement cross-regional, regional and sub-regional efforts, including ASEAN, in strengthening greater connectivity, creating favorable environment conducive to investment, fostering the flow of goods and services, lowering the transport and production costs, empowering countries especially those located along the route in global supply chains, and helping poverty alleviation. It will also bring a lot of benefits and make important contribution to peace and prosperity in countries and regions along the Silk Road, including Southeast Asian region, and the whole world.

While noting that some progress has been made in promoting and implementing “The Belt and Road Initiative”, while executing such a major project is time consuming and may face a number of challenges on its road to success.

In order to successfully realize this initiative, it will require time and efforts, a lot of coordination and close collaboration, huge financial capital and human resources, and great involvement of government, private sector, regional and international organizations and other stakeholders.

Until now, on the one hand, many countries have expressed their willingness to engage or have already engaged with China under “The Belt and Road Initiative”, and on the other hand, a number of countries are still reluctant to do so for their own whatever reasons as they may need more time to study it or are waiting to see the development brought in by this initiative.

Source:
courtesy of KPL NEWS AGENCY

by Soukthavy Thephavong

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