China's international Belt and Road initiative is aimed at improving the existing and creating new trade routes. According to the concept, transport and economic corridors should unite the countries of Central Asia, Europe and Africa.
The initiative was put forward by the President of the People's Republic of China Xi Jinping in 2013. Currently, more than 80 countries and international organizations have officially joined the megaproject. The territory covered by the Belt and Road is home to 4.4 billion people, which makes up 63% of the world's population.
In September of this year, at the Kazakhstan-China Business Forum in Astana, it was announced that over the past five years, the trade turnover between China and the countries of the project amounted to more than five trillion dollars. China’s direct investment in foreign countries exceeded $70 billion over this period. The forum also noted that, with the participation of Chinese companies, more than 80 trade and economic zones have already been established, and 200,000 jobs have been opened along the route.
The success of the project depends on many factors, including environmental sustainability. In this regard, the United Nations Environment Programme and the Ministry of Environmental Protection of China co-initiated the International Coalition for Green Development on the Belt and Road.
The main goal of the coalition is to promote the long-term and environmentally friendly growth of the megaproject to support the 17 Sustainable Development Goals. The environmental sustainability of the Belt and Road Initiative will be developed within five priorities: policy coordination, facilities connectivity, unimpeded trade, financial integration, and people-to-people bonds.
Considering that Central Asia is directly involved in the development of the new Silk Road, CAREC joined the International Coalition for the International Coalition for Green Development on the Belt and Road.
Based on the interests of the region, CAREC will contribute to the work of the initiative. “We shouldn’t we oppose the economic development of our countries with the environment. These things are compatible in the modern world,” noted CAREC Executive Director, Dr Iskandar Abdullaev.
Dr Abdullaev also highlighted the importance of the fact that all interested parties will be involved in the coalition’s work: investors, invested and international partners. “This will form a transparent system. It will be clear that all possible consequences are considered in advance, that participants in the process understand each other,” explained Dr Iskandar Abdullaev.
The official start of the coalition’s work is scheduled for the first half of 2019. CAREC hopes that participation in the initiative will strengthen relations between Central Asia and China in the field of environmental protection.