One Belt One Road Cooperation Agreement

14 Aralık 2020

Although agreements vary in their exact wording, they have much in common – vague language on cooperation, win-win partnerships and “synergie.” The notable exception here is the Agreement of Vanutus, which does not have such a clause – and although it is not publicly available, the CBA understands that the Tonga document also omits this clause. The Belt and Road initiative aims to improve physical infrastructure through land corridors that roughly correspond to the ancient Silk Road. These are the belts in the name, and there is also a maritime silk road. [50] Infrastructure corridors, which cover some 60 countries, mainly in Asia and Europe, but also in Oceania and East Africa, will cost between US$4 billion and US$8 trillion. [51] [52] This initiative contrasts with the two U.S.-focused trade agreements, the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership. [52] The initiatives are supported financially by the Silk Roads Fund and the Asian Infrastructure Investment Bank, while they are technically coordinated by the B-R Summit Forum. Among the land corridors: [50] Initially announced in 2013 to restore the ancient Silk Road that linked Asia and Europe, the scale of the project has been extended over the years to new areas and new development initiatives. The project, also known as the Belt and Road Initiative (BRI), involves the construction of a large network of roads, railways, seaports, power grids, pipelines and related infrastructure projects. Egypt has traditionally had a strong relationship with China, and when China first announced its Belt and Road Initiative, Egypt was one of the first countries to sign the agreement. After the instability of the Arab Spring protests in 2011, China was one of the few countries willing to grant loans and financial assistance to Egypt.

Since then, China has launched a number of projects, including a Chinese industrial zone in the Gulf of Suez, an electric traction system for its new capital and investments in Western Sahara. The new capital of the Egyptian administration is also an important step for the Belt and Road initiative. [16] From 2015 to 2017, Egypt borrowed $1.03 billion from China to finance various infrastructure projects. During the same period, about 1,900 Chinese workers were brought to construction. [6] The scale of Chinese projects and the Belt-and-Road activity have also strengthened diplomatic relations between Egypt and China.