This article discusses how the “One Belt, One Road” initiative, or New Silk Road, can serve the Sustainable Development Goals. The OBOR emphasizes openness and inclusiveness; it constitutes the new framework of China’s neighborhood policy and is the key opportunity to build a greater Eurasian market.
The New Silk Road intersects with the SDGs in three major ways: Firstly, the ultimate vision of the New Silk Road is in line with SDGs; Secondly, trade and investment are major economic policy tools for reaching sustainable development, as the official plan for the New Silk Road is to enhance trade and investment facilitation, and establish a network of free trade areas. Thirdly, both SDGs and the New Silk Road put great emphasis on infrastructure for industrial development, and the New Silk Road serves to promote infrastructure investment, facilitate the flow of production factors, the interdependence of economies, and the integration of the backward economies into the regional and global value chains. Through policy cooperation and experience sharing, the New Silk Road can help countries to grow together and jointly address common problems.
The suggestions of building New Silk Road include: firstly, the New Silk Road can be linked even more closely to the SDGs; Secondly, it is worth further exploration seeking synergy between the New Silk Road and Chinese foreign aid; Thirdly, it needs more effective partnerships with various international organizations.
This article was originally the conference paper for Silk Road Forum 2015 and has been granted authorization to use and reproduce 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.