The Friends of the New Silk Road Association has been formed in Portugal to study opportunities stemming from the “One Belt, One Road” initiative, Macauhub reports.

The news website says that from next year, the association will analyse and promote opportunities offered by the belt and road initiative.

The “One Belt, One Road” initiative was proposed by President Xi Jinping in 2013. The infrastructure and trade development programme aims to better connect the economies in the Asia-Pacific region, Africa, Europe and the Middle East.

Fernanda Ilhéu, an academic at the ISEG Lisbon School of Economics and Management’s China Logus research centre, says the association is “a study group to reflect on the possibilities of Portugal-China co-operation in several fields”.

The association will include academics, economists, businesspeople, people from cultural fields and representatives from Chinese companies operating in Portugal.