Industrialisation: Nearly 30 World Leaders Expected At Beijing Forum

The Belt and Road Forum on International Cooperation holds in the Chinese capital from May 14-15, 2017.

Preparations are in top gear for the forthcoming international development summit in the Chinese capital, Beijing. Some 30 world leaders, including those from Ethiopia, Egypt, Tanzania and Kenya, are expected at the Chinese-led Belt and Road Forum on International Cooperation from May 14-15, 2017. Also participating will be over 1,200 officials, scholars, entrepreneurs, representatives of financial institutions and the media from 110 nations, and delegates from more than 60 international organisations.

At a press conference in Beijing on May 4, 2017 hosted by the All-China Journalists’ Association, Prof. Wang Yiwei of the School of International Studies, Renmin University of China, described Belt and Road as “a new type of industrialisation and modernisation.” Speaking on the theme, “The Achievements and Future Direction of Belt and Road Initiative,” he disclosed that 700 Billion US Dollars (about 418,254 Billion FCFA) is being invested by China and partners in the initiative. Its five key areas are facilitating cross-border investments and supply chain cooperation, enhancing monetary policy coordination and bilateral financial cooperation, and building facilities to enable connectivity along the Belt and Road.

Other areas are promoting people-to-people bonds and cooperation, and planning and supporting large-scale infrastructural development. “Africa is so endowed, but most nations lack connecting infrastructure with their neighbours. We want to assist Africa to improve its self-...