Resilience, diversified growth and international cooperation have become pressing priorities for governments and businesses alike, as geopolitical turbulence reshapes trade and supply chains worldwide.
In his welcome remarks at this year’s Belt and Road Summit, recently held in Hong Kong, Prof Frederick Ma, Chairman of the Hong Kong Trade Development Council (HKTDC), highlighted the need to face these realities head-on.
“In a world full of risks, diversification is a necessity, not a choice,” Prof Ma emphasised. “We must seize new opportunities, even as we confront new challenges every day.”
HKTDC's Chairman also pointed to the growth potential of rising economic powerhouses in Africa, ASEAN, Central Asia, Latin America and the Middle East, opening up new growth trajectories and partnership possibilities.
These key messages echoed throughout this year’s Summit, a major forum for multilateral cooperation and business collaboration that attracted more than 6,200 policymakers and business leaders from over 70 countries and regions.
In his special address, Uzbekistan’s Prime Minister Abdulla Aripov invited participants to support the creation of new manufacturing and technology value chains in his country, while expanding investment and financial cooperation in Central Asia in pursuit of shared prosperity.
“Our cooperation with Belt and Road countries has been elevated to comprehensive strategic partnerships,” he said.
Uruguay’s Vice President Carolina Cosse also highlighted how the country, the first in the Mercosur trading bloc to formally support the Belt and Road Initiative (BRI), is ready to work with international partners to facilitate capital flows, trade finance and project development in Latin America and Asia.
“The BRI pillars of infrastructure, connectivity, trade facilitation and financial integration align with Uruguay’s long-standing belief in multilateral cooperation and free trade,” she remarked.
Saleumxay Kommasith, Deputy Prime Minister of Laos, described how the BRI has made major contributions to his country’s growth through trade, foreign investment and infrastructure development. The Lao-China Railway, which first opened in 2021, has significantly reduced logistics costs and helped integrate the landlocked country into regional supply chains.
“We regard the Belt and Road Initiative as a vital cornerstone of our long-term country development agenda,” Mr Saleumxay told Summit attendees.
Dr Kao Kim Hourn, Secretary-General of ASEAN, showcased Southeast Asia’s growing pipeline of green and digital projects seeking capital and expertise. “Together with Belt and Road partners, we can turn sustainable initiatives into bankable projects, and bankable projects into a greener, more connected and more resilient ASEAN,” he said.
New avenues for collaboration
High-level panel discussions and exchanges during the Summit explored different ways to strengthen sustainable growth as well as ties between Belt and Road countries and regions.
The Summit’s main policy dialogue, themed ‘Building Resilient Trade and Investment Frameworks in a Diverse Global Landscape’, featuring government officials from Bangladesh, Kazakhstan, Qatar, Timor-Leste and Thailand, stressed the need to strengthen trade and investment frameworks, as geopolitical tensions, protectionism and supply chain disruptions raise costs and complicate long-term investment planning. More countries are diversifying their export markets and enhancing regional connectivity to build resilience.
One business plenary, titled ‘Harnessing Business Opportunities for Sustainable Growth and Shared Prosperity’, with business leaders from the Chinese Mainland, Hong Kong, Indonesia, Kazakhstan, Laos and Thailand, explored how physical and digital infrastructure can drive economic productivity. It also asssessed support for community-based initiatives and SMEs as economies transform and grow.
Another business plenary, ‘Unlocking New Market Opportunities along and beyond the Belt and Road’, providing perspectives from Nigeria, Oman, Qatar and South Africa, looked at the rise of the Middle East and Africa as significant players in the global economy. These trends are creating opportunities in renewable energy, technology and local manufacturing, with digital infrastructure and international partnerships helping bolster economic connectivity.
The Belt and Road Summit, co-organised by the Hong Kong SAR Government and the HKTDC, also featured breakout forums, project investment showcases, deal-making opportunities, a themed exhibition and more, helping delegates identify new opportunities and broaden their networks in a fast-changing global economy.
Overall, this year’s event showcased more than 300 investment projects, with a combined project value exceeding US$5.4 billion. It also arranged more than 800 one-on-one deal-making meetings and facilitated more than 60 MoUs.
In his opening remarks at this year’s Summit, Hong Kong’s Chief Executive John Lee described the Belt and Road Initiative as a shared blueprint for the future, with Hong Kong playing a key role as an East-meets-West centre where capital, talent and businesses converge.
“In a world struggling with unprecedented change and geopolitical fragmentation, connectivity, co-operation and consensus are essential,” Mr Lee said. “That’s precisely what the Belt and Road Initiative offers.”