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· World Economic Forum Founder and Executive Chairman Klaus Schwab praises China’s One Belt, One Road initiative as a model for fostering economic development and international cooperation
· Scheme is based on a stakeholder approach conducive to dialogue and multilateral cooperation, has the potential to strengthen social inclusion and risk resilience, according to Schwab
· World Economic Forum signs Memorandum of Understanding with China’s National Development and Reform Commission (NDRC) at the Belt and Road Forum for International Cooperation in Beijing, to collaborate on developing models for public-private cooperation along the Belt and Road.
14 May 2017, Beijing, China – The World Economic Forum today signed a memorandum of understanding (MoU) with China’s National Development Reform Commission (NDRC) to develop closer collaboration fostering public-private cooperation in support of China’s One Belt One Road initiative.
The MoU was signed by Klaus Schwab, Founder and Executive Chairman, World Economic Forum, and He Lifeng, Chairman, NDRC. Schwab is participating in the Belt and Road Forum for International Cooperation (BRF) in Beijing today at the invitation of President Xi Jinping. The invitation follows an address by President Xi at the World Economic Forum Annual Meeting 2017 in Davos-Klosters in January, where President Xi called for joint efforts to boost cooperation, build cooperation platforms and share cooperation outcomes.
In an address at a high-level dialogue on the first day of the BRF today, Schwab offered his full support for One Belt One Road, sharing five observations in keeping with the Forum’s mission to improving the state of the world through public-private cooperation:
· Based on a multistakeholder approach, which is conducive to dialogue, multilateral cooperation and long-term shared interests
· Leverages market forces while promoting greater social inclusion and risk resilience
· Helps prepare economies for the Fourth Industrial Revolution
· Is based on an “open platform” concept which could enable increasingly dynamic interaction and innovative outcomes
· Represents a positive message for resetting the world on a path towards shared value and global harmony
“This initiative respects the differences between countries and their various paths for development, not imposing a specific plan or ideological framework, but seeking to create common ground for cooperation and mutual benefit,” noted Schwab. Click here to read the full text of his speech at the Belt and Road Forum.
Under the terms of the MoU signed between the Forum and NDRC, the two parties commit to establishing a new collaboration platform as well as to expanding the scope and substance of collaboration, in particular by conducting regional or country-specific analysis to identify and share best practices and solutions. Plans will be developed further at the World Economic Forum Annual Meeting of the New Champions in Dalian, China, on 27-29 June 2017, where the Forum will focus its unique convening power on generating further multistakeholder participation in the Belt and Road Initiative.
“The Belt and Road Initiative is designed to build a closer and stronger partnership network by following the principle of wide consultation, joint construction and shared benefits. With the World Economic Forum’s support, in particular, its inputs and contribution with regard to building an extensive global business and expert network, it would help catalyse practical cooperation in policy communication, infrastructure connectivity, trade promotion, financial support and people-to-people exchange. We look forward to a deeper and comprehensive cooperation with the Forum to identify and propagate best practices and solutions to solving the challenges lying ahead.” said He Lifeng, Chairman of NDRC.
“Over the past 40 years, the World Economic Forum has been a partner for China’s opening up. We will continue to work hard to integrate China even more into the world. We will help to act a catalyst to develop this initiative into a truly open, inclusive and forward-looking cooperation platform that the region and the world need now,” said David Aikman, Chief Representative Officer, China, Member of the Executive Committee, World Economic Forum.
The World Economic Forum Annual Meeting of the New Champions will be held on 27-29 June, in Dalian, China. Under the theme of Achieving Inclusive Growth in the Fourth Industrial Revolution, over 2,000 participants from 90 countries will take part in the meeting. How to further strengthen cooperation and support the Belt and Road Initiative’s future will continue to be addressed by leaders from all walks of life as they engage in discussions to shape the world’s economic, industry and future agenda.
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