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Digital Economy Powers Joint Construction of the Belt and Road

TIME:2021-09-09 14:30

 
This year marks the 8th anniversary of the Belt and Road Initiative. Facing the complicated and changing international situation, the international economic and trade cooperation under the Belt and Road Initiative has brought huge opportunities and benefits for the development of China and relevant countries over the past eight years. The total volume of imports and exports in 2020 between China and the countries along the Belt and Road has roughly reached the same level as the previous year despite the enormous impacts of the COVID-19 pandemic in 2020. The first quarter of this year has witnessed an increase of 6.6 percent in the service trade between China and the countries along the Belt and Road, with exports in this sector up by 36.8 percent, reflecting an encouraging momentum towards recovery and rebound. The pandemic has catalyzed the development of global digital economy and the emergence of new business models, which have become new sources of growth for service trade. In the face of both challenges and opportunities, the international cooperation on service trade under the Belt and Road Initiative is promising.

As a country along the Belt and Road, Pakistan rolled out a policy of “Digital Pakistan” in 2018 and its digital economy has entered a phase of fast development. Mr. Moin ul Haque, Pakistani Ambassador to China, stated that the vision and strategy of establishing partnership with China not only benefit the people from substantial progress at present but also prepare Pakistanis for new development in the future. Mr. Federico Lage, Deputy Chief of Uruguay Embassy in China, noted that Uraguay and China are believed to have considerable potentials in  service trade, especially in the digital economy, and they look forward to tapping new opportunities for cooperation among the enterprises in Uruguay and China.

Mr. Zhang Shenfeng, Vice Chairman of the China Council for the Promotion of International Trade, expressed that they will vigorously advance the building of Digital Silk Road and Maritime Silk Road, aiming to advance the high-quality construction of the Belt and Road Initiative in the future and upgrade the cooperation on service trade continuously. Efforts will be made to enhance the cooperation in cutting-edge fields such as digital economy and artificial intelligence, in a bid to expedite the wider-ranging and higher-level operation of an international trading corridor that is interconnected, secure and efficient. 

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