context: Together with connectivity, digital economy and green development are identified to be the three focal points of the high-level forums in this year's Third BRI (Belt and Road Initiative) International Cooperation Forum. During the forum on trade connectivity on 18 Oct 2023, the PRC and 35 BRI countries jointly published the 'Initiative on International Trade and Economic Cooperation Framework for Digital Economy and Green Development' (the Initiative). As these two themes are identified to be major drivers in global economic transformation and growth, they will likely remain top priorities for the BRI.
MofCOM (Ministry of Commerce) shared the latest developments of the Initiative, including
- characteristics
- autonomous, voluntary and non-binding
- flexible and pragmatic
- constructed by multiple parties
- open for development
- aligned with Beijing's Global Development Initiative, African Union's Agenda 2063, ASEAN Connectivity 2025 and the UN 2030 Agenda for Sustainable Development
- seven pillars of cooperation
- such as
- creating an open and secure environment
- upgrading trade facilitation
- bridging the digital divide
- enhancing consumer trust
- creating a policy environment for green development
- strengthening trade cooperation for green development
- encouraging exchanges of green technologies, services and investment cooperation
- the seven pillars have proposed practical areas of cooperation, for example
- encouraging the exchange of policies, rules and standards
- creating a favourable development environment
- supporting the use of electronic bills of lading and the development of e-payment
- strengthening investment in digital infrastructures
- exploring ways of resolving cross-border disputes
- strengthening the protection of online consumers' rights and interests
- promoting the improvement of sustainable consumption/production and accelerating the transition to a low-carbon economy
- promoting the development of the global supply chain
- encouraging cooperation in industries such as clean energy, new energy vehicles, green technologies and services
- such as
- directions for future development
- launching cooperation projects
- building a cooperation network with local enterprises
- using trade exhibitions and forums to promote exchanges
- capacity building and technical support to be led by international organisations
- building a long-term cooperation mechanism that comprises meetings at various levels