Foreign officials laud initiative as beneficial to all

Representatives of 14 countries at Beijing seminar see potential for project to boost trade, economies

From a business and investment perspective, the Belt and Road Initiative will benefit not only China but also economies in Asia and Europe, say several foreign officials.

Forty-seven representatives from 14 countries recently began a 15-day seminar in Beijing on energy strategies of the Belt and Road Initiative economies.

The China University of Petroleum jointly organized the seminar with the Academy for International Business Officials of the Ministry of Commerce.

At the event, Ahmady Mohammad Yasin, from Afghanistan's Ministry of Energy and Water, said the initiative is important for every country.

As Afghanistan has abundant resources, he hoped the two countries could have more cooperation in the energy and mining sectors.

"The Belt and Road Initiative is not only for China, Asia and Europe but the whole world," says Shambhu Prasad Ghimire, adviser to the deputy speaker of the Legislature-Parliament Secretariat of Nepal.

"It makes a very good connection with each other, not only for development but also for the happiness and the prosperity of the people," he adds.

Ghimire says China has cooperated with Nepal in infrastructure from the very beginning. He is looking forward to cooperation in health and education, in particular, in building hospitals in rural areas and polytechnic schools that impart practical skills.

The Belt and Road Initiative "shows the leadership of China and its responsibility for the rest of the world", says Loannis Economides, senior industrial extension officer in Cyprus' Ministry of Energy, Commerce, Industry and Tourism.

Cyprus has rich natural gas reserves. At present some international companies, including Total, Eni, Kogas and ExxonMobil, are exploring natural gas in the exclusive economic zone in Cyprus, Economides says.

He hopes that Chinese companies will join in the exploration in future.

"We hope that in the future we'll get a Chinese company as well. If there are more discoveries, I'm sure that will interest Chinese companies, because this is in line with the energy policy of China," he adds.

Economides is optimistic about progress in liquefied natural gas as it is more environmentally friendly than oil.

Being near the Suez Canal, Cyprus has been a base for international shipping management companies. Economides hopes that Chinese companies will also base themselves there to manage their fleets.

Cyprus has a trade deficit with China. It hopes to export more to China in the future and is seeking opportunities under the Belt and Road Initiative, he said.

Data provided by the China University of Petroleum show that 55 percent of the world's proven reserves of crude oil and more than 76 percent of the proven reserves of natural gas come from economies along the Belt and Road Initiative.

In 2014, 71.5 percent of China's oil imports and 96.1 percent of its natural gas imports came from the economies along the Belt and Road Initiative.

By 2016, China oil majors, including China National Petroleum Corp and China Petroleum & Chemical Corp, had invested in 200 oil and gas projects in more than 50 economies along the Belt and Road Initiative, according to a blue book issued by the China Petroleum Enterprise Association and China Oil and Gas Center.

Economides also says China and Cyprus could work together in shipping, suggesting that "in the future Chinese shipping companies can have a base in Cyprus to manage their fleet".

wuxiaobo@chinadaily.com.cn

(China Daily Africa Weekly 04/14/2017 page27)