There should be “closer co-operation” among the customs authorities of countries along what China has dubbed the new ‘Silk Road’ in order to improve trade, said Chinese Vice Premier Wang Yang. The ‘Silk Road’ is a reference to modern countries whose territories make up what was once an historic trade route linking China and the West.
Mr Wang’s remarks were made on Wednesday in a forum held in Xi’an, China. Attendees included customs officials from countries along the route, Chinese newspaper China Daily reported.
“Even though the economic growth of many countries along the route remains slow under the current global economic conditions, they should continue to develop new business growth points and oppose trade protectionism,” he noted.
The initiatives of the ‘Silk Road Economic Belt’ and the ‘21st Century Maritime Silk Road’, usually referred as ‘One Belt, One Road’, were put forward by Chinese President Xi Jinping in 2013 to better connect the economies of Asia, Middle East, Europe and Africa through infrastructure.
Official figures show the trade between China and countries covered by the “One Belt, One Road” initiative totalled US$1.12 trillion last year, accounting for 26 percent of China’s foreign trade.