Monitoring Desk
ISLAMABAD/BEIJING: A Chinese commerce official said that economic and trade relations between China and countries part of the Belt and Road initiative had grown importantly over the past decade.
According to APP, Chen Chunjiang, Assistant Minister of Commerce, said that China’s trade in products with Belt and Road nations doubled from 1.04 trillion United States dollars in 2013 to 2.07 trillion United States dollars in 2022, with an average annual growth rate of 8%.
Belt and Road Initiative
Chen said that two-way investment between China and Belt and Road nations exceeded 270 billion United States dollars during the period. By the end of 2022, he said Chinese enterprises had invested US $57.13 billion in economic and trade cooperation zones in nations along the Belt and Road, producing 421,000 jobs for residents.
Proposed by China in the year 2013, the Belt and Road Initiative (BRI) refers to a Silk Road Economic Belt (SREB) and the 21st Century Maritime Silk Road.
