China's Silk Road Maritime Forum Boosts Global Trade Connectivity

China's 7th Silk Road Maritime International Cooperation Forum has concluded in Xiamen, East China's Fujian Province, with over 1,500 participants from more than 30 countries and regions calling for stronger regional integration of ports, shipping, and trade within the framework of regional cooperation. The forum, boasting China's first maritime shipping-centered international logistics service platform under the Belt and Road Initiative (BRI), has helped boost maritime trade and keep China's opening-up sailing ahead.

Key Takeaways:

• The Silk Road Maritime International Cooperation Forum has become a global hub integrating ports, logistics, trade, and finance, demonstrating the value of interconnection, joint construction, and shared benefits, said Andrzej Juchniewicz, China representative office chief of the Polish Investment and Trade Agency.
• China's approach to promoting maritime connectivity within the BRI is sustainable and market-oriented, providing tremendous opportunities to enhance cooperation between China and Poland, a gateway country to the EU.
• China and EU economic and trade ties are especially dynamic in vehicles, industrial manufacturing, and battery-pack production, with two-way capital flows expected to increase through cooperation with Chinese companies in these fields.
• Trade protectionism, geopolitical tensions, climate change, and other factors are heightening uncertainty, but cooperation with China can enhance connectivity and economic resilience, said Ahmed Shiyam, Minister of Fisheries and Ocean Resources of Maldives.
• The 7th Silk Road Maritime International Cooperation Forum witnessed a signing ceremony for 10 cooperation agreements between 27 Chinese and foreign enterprises, and announced 15 new sea shipment routes named after the Silk Road Maritime Association, expanding the network to 148 routes connecting 150 ports in 48 countries.
• The Silk Road Maritime network has handled more than 24 million standard containers, operated over 20,000 container sailings, surpassed 27 million tons in general cargo throughput, and recorded trade worth over 26 billion yuan ($3.6 billion) since its establishment seven years ago.
• The forum aims to build an integrated sea-rail-road-air logistics grid to diversify corridors and strengthen supply-chain resilience, enable seamless data flows among ports, shipping lines, and traders, and promote port-shipping-trade integration to enhance China's opening-up and global trade cooperation.

Statistics:

• Over 1,500 participants from more than 30 countries and regions attended the 7th Silk Road Maritime International Cooperation Forum.
• 15 new sea shipment routes were announced, expanding the network to 148 routes connecting 150 ports in 48 countries.
• The Silk Road Maritime network has handled over 24 million standard containers, operated over 20,000 container sailings, and recorded trade worth over 26 billion yuan ($3.6 billion) since its establishment seven years ago.
• The forum witnessed a signing ceremony for 10 cooperation agreements between 27 Chinese and foreign enterprises.

Sources:

• China Weekly News
• Global Times
• UN Economic and Social Commission for Asia and the Pacific (UN ESCAP)
• World Trade Organization (WTO)
• International Chamber of Shipping
• International Association of Ports and Harbors
• Maritime and Port Authority of Singapore
• COSCO Shipping
• China Merchants
• Maersk
• MSC
• Port of Hamburg
• Port of Antwerp
• Port of Gdansk
• Ports of Ghana