Off the wire
• 60,000 orphans in China receive free health insurance  • Urgent: Al-Qaeda claims attacks that kills 4 in Mali: monitoring group  • China strongly condemns terrorist attack in Mali  • Weather forecast for world cities -- June 1  • China's central bank injects more liquidity in May  • Weather forecast for major Chinese cities, regions -- June 1  • Interview: Some European countries still under terrorist threat  • China hopes Philippines' new government choose dialogue on sea disputes  • Roundup: Abbas ready for dialogue if Israeli DM accepts 2-state solution  • Russia starts free land-lease program in Far East  
You are here: 　 Home

UAE urges innovative ways to implement One Belt One Road initiative

Xinhua, June 1, 2016 Adjust font size:

UAE port giant urged here Wednesday governments of One Belt One Road (OBOR) -linked countries to explore innovative ways of working together as trading blocs to ensure the long term success of the Chinese initiative.

Sultan Ahmed Bin Sulayem, the Group Chairman and CEO of Dubai Ports (DP) World called for the concerned countries to work together as trading bloc, at a panel discussion exploring Europe-Asia infrastructure connectivity at the Astana Economic Forum in Kazakhstan.

Bin Sulayem said in an e-mailed statement trading blocs such as the Eurasian Economic Union, the Shanghai Cooperation Organization, the South Asian Association for Regional Cooperation, the Organisation of Islamic Cooperation, and other European cooperative organizations "need to focus on the provision of basic infrastructure and the networking of transport and logistics for nations to realise the economic benefits."

Bin Sulayem, considered a leading spokesperson of "Corporate Dubai," he gave this statements under the impression of the Astana Economic Forum in Kazakhstan last week at which he participated.

Only by doing this would firm partnerships attract investors to bridge the estimated 5 trillion dollars infrastructure gap of OBOR countries.

"One way to fund it is by trading blocs finding innovative ways of working together with a focus on infrastructure provision, developing the financial markets, mitigating risks and eliminating red tape to attract investors," he said.

OBOR is an initiative which aims to economically integrate East Asia, Central Asia, the Middle East, Africa and Europe through joint infrastructure investments and by creating sustainable common markets.

Bin Sulayem expressed DP World's full support of OBOR, quoting OECD estimates which state that inland connections will grow strongly "with freight volumes in intra-Asian trade multiplying by nearly seven times between 2010 and 2050." Endit