Initiative offers potential for sustainable growth

Two thousand years ago the ancient network of trade routes known as the Silk Road stretched from China, through Asia, to as far as the United Kingdom. These routes heralded a new era of trade, opening up access to the East and West of the globe and resulting in booming trade and vibrant cultural exchanges.

Today, at a time of anemic global economic growth, trade protectionism and a backlash against globalization, a new trade initiative could bring much needed impetus to revitalize the global economy and help the world's poorest nations achieve sustainable development.

Announced by Chinese President Xi Jinping in 2013, the Belt and Road Initiative aims to build a trans Euro-Asia economic belt stretching from China to the Horn of Africa. Since the trade network was announced significant strides have been made to connect trade opportunities including a freight train from London to Yiwu, East China's Zhejiang province, and an electric railway connecting Ethiopia and Djibouti. More is planned, not only boosting trade, but bringing much-needed ICT and sustainable technologies, which could contribute to capacity building in the most vulnerable countries.