Experts at a recent
conference on China’s Belt and Road Initiative, hosted in Istanbul, spoke of
its many advantages to the region, but also on the challenges involved in
attracting financing
BY Anoop Singh Distinguished Fellow, Geoeconomics Studies
Turkey hosted a major
conference on the Belt and Road Initiative (BRI) in the last week of April in
Istanbul. The main hosts were: Koç University Maritime Forum (KUDENFOR), Koç
University Asia Centre (KUASIA), and the Foreign Economic Relations Board
(DEİK) of Turkey. Huaqiao University, China, was the main sponsor, supported by
the Chinese Embassy. Other participants came from the academic and business
community in Turkey, and representatives from the EU and other countries. I
represented Gateway House.
The meeting was well
timed–ahead of the Heads of State BRI Summit in Beijing in mid-May, when
countries and international financial institutions (IFIs) are expected to sign
up formally on the project. Turkish president Erdogan will attend it. India has
not yet indicated sending any representation to the summit—and is unlikely to
do so.
The BRI has become China’s
most ambitious foreign trade and investment project [1] in its 13th Five-Year
Plan, potentially similar in size to the Trans-Pacific Partnership Agreement,
previously proposed by the U.S. China’s 2017 Government Work Report identified
the BRI as an anchor for expansion and enhancement of the “opening up” policy,
with international capacity cooperation as a key component.
