BRI is Celebrating its 10th Anniversary

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On Tuesday, Chinese President Xi Jinping met with international leaders attending the third Belt and Road Forum (BRF) in Beijing. The forum, which is anticipated to result in a number of trade deals, is scheduled to draw attendees from more than 130 nations and international organizations.

With the goal of building a worldwide infrastructure network between Asia, Africa, and Europe that includes a maritime silk road and an economic belt that runs across land, the Belt and Road Initiative (BRI) is Beijing’s most ambitious initiative.

Vladimir Putin, the president of Russia, has arrived in Beijing to commemorate the tenth anniversary of China’s Belt and Road Initiative, despite his reluctance to travel overseas. In an attempt to offset lost commerce with the EU, following its invasion of Ukraine, Russia has been attempting to fortify its economic ties with China and the Asian region. In the first two quarters of 2023, trade between China and Russia increased by 30%, and by the end of the year, it is predicted to surpass $200 billion.

The ruler of the Emirate of Ras Al Khaimah, Sheikh Saud bin Saqr Al Qasimi, is leading the UAE delegation that is anticipated to play a significant role in the development of the BRI. Xi Jinping warmly greeted Hungarian Prime Minister Viktor Orban, who is the only EU representative present.

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E.F Team

Our team at Eastern Finance is made up of young and knowledgeable professionals who are here to provide you with business news from an eastern perspective.

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