The OBOR initiative provides an opportunity to contribute to the sustainable development of many countries involved. To seize this opportunity, countries should actively harness the trade and investment policies related to the project. To be specific, the following three measures should be taken. Firstly, relevant countries should integrate OBOR activities with global values chains through trade facilitation and infrastructure upgrading. Secondly, relevant countries should enhance sustainable FDI by making it easier for investors to establish or expand existing investments and conduct business in host countries, including removing obstacles such as the lack of transparency on legal or administrative requirements, strengthening the capacity of investment promotion agencies, and adapting to particular national or regional circumstances. Thirdly, relevant countries should accelerate the switch to lower-emissions-intensity fuel sources. To achieve this goal, countries related to OBOR should cooperate to remove technical, administrative, tariff and other barriers to trade in energy and relevant equipment, technologies and services.
This article was originally the conference paper for Silk Road Forum 2016 and has been granted authorization to use by International Centre for Trade and Sustainable Development (ICTSD).
Executive summary is based on the article. Copyright © International Centre for Trade and Sustainable Development (ICTSD). All rights reserved.