Name: Ren Hanbin, CCO, Central China, Damco ChinaLimited

Title: The Belt and Road: Turning the Vision into Reality

Abstract:

1. The Maersk Group, as a business conglomerate in the ocean transportation, port infrastructure construction, and operation and management sectors, has taken great interest in the Belt and Road Initiative, and is closely following its implementation. We believe that all participants in transportation and infrastructure construction should support this initiative proposed by the Chinese government.

2. In the past two decades, China has proven that trade can be expanded and economic development accelerated by investing in transportation infrastructure and enhancing interconnectivity before the demand curve shifts. China has in the process become the world's biggest trading nation whose development experience is transferable to other countries. The country thus provides inspiration for implementation of the Belt and Road Initiative, such as by demonstrating how governments at all levels have set great store by the initiative and opened the market to foreign-invested companies; and how container transportation has been promoted, a benign business environment built, and good management exercised to attract common carriers.

3. To ensure the successful implementation of the initiative, we suggest that attention be paid to the following issues: how can the initiative be transformed into concrete and workable plans? How can the plan and role of market be balanced? Not all participant countries have international hub ports or shipping centers, so how can we best meet the needs of different countries? How can the significance of the Belt and Road Initiative be demonstrated, recognized and acknowledged by all participant countries? And how can unified standards in various fields be established in order to heighten efficiency? And efforts must be made to guarantee that private enterprises can participate in the initiative, which should be open to all.

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