The Belt and Road Initiative: A New Engine for Global Development

I had the great opportunity to participate in this year's China Development Forum (CDF). The CDF is an annual high-level international conference where the Chinese government has insightful discussions with leaders of global businesses and international organizations as well as foreign and Chinese scholars. This year, the Forum with the theme "China in the New Era" took place from March 25-26.

Amongst all the ongoing worldwide trends and developments, China's Belt & Road Initiative (BRI) is regarded as one of the most important and impactful global infrastructure programs of our times. The long-term, determined planning shall accelerate much needed infrastructure projects in the announced BRI countries, e.g., when it comes to transportation or power supply. The goal is to foster economic growth and enhance the quality of people's lives in those countries. While investments in classical infrastructures such as power plants, railroad or industrial zones will shape BRI in the near future, digitalization is the key to abiding collaboration success.

Chinese President Xi Jinping said last week that the BRI may be China's idea, but its opportunities and outcomes are going to benefit the world. While delivering a keynote speech at the opening ceremony of the Boao Forum for Asia annual conference, he stated that the BRI is a new initiative. Thus, different views in cooperation are natural and there should be principles and shared benefits to enhance cooperation and to resolve differences. He then added: "This way we can make the BRI the broadest platform for international cooperation in keeping with the trend of economic globalization and to the greater benefit of all our peoples."

At Siemens we see our engagement in BRI as a long term project. We want to offer bold, transnational solutions to our Chinese customers operating in Belt and Road countries. In this regard, we want to be a thought leader, an innovator and an integrator helping bridge national divides.

During the CDF, I gave this brief statement on the Belt & Road Initiative, which I would like to share with you now:

• The numbers alone are impressive! By 2025, Chinese companies will be involved in infrastructure projects worth roughly 1 trillion euros in BRI countries. And that will have a massive impact on the global economy. Most of these projects are transportation and energy projects that BRI countries have not been able to realize for decades. These projects will foster economic growth and improve quality of life in these countries. And once completed, they will create jobs and generate new businesses.
• BRI is a Chinese initiative - but China is not walking alone. To me, BRI is China's invitation to the world. And we should accept this invitation, get involved, and help make it a success. Because China needs other countries and multinational companies to make this happen! However, for this to work, multinational corporations need to accept China and Chinese companies as equal partners.
• Many companies like Siemens support the BRI - it's what the world and especially BRI countries need right now to drive global trade and economic growth.
• This June Siemens will be participating in The Belt and Road International Summit 2018 in Beijing. It takes place under the motto "Connect, Create and Collaborate", and poses a valuable opportunity for key stakeholders to conncect and share know-how.
• As far as Siemens is concerned, we will be setting up an office in Beijing, dedicated solely to Belt and Road projects. Its objective is to expand and intensify our cooperation with Chinese partners, specifically Engineering, Procurement & Construction (EPC) companies. We are currently exploring business opportunities together with Chinese EPCs in more than 100 markets worldwide. It is our goal at Siemens to help build bridges towards a sustainable future for all people along the Belt and Road and to ensure a true win-win-win for all parties involved: China, the BRI countries and Siemens. The joint development of much-needed, relevant infrastructures e.g. in the areas of electrification, mobility and digitalization is a key lever to make this happen.
• The way forward in today's complex, connected world is not protectionism, distrust and defense, but rather openness, overcoming differences on rational grounds and jointly creating something meaningful and lasting for societies and their people. Siemens is active in almost every country in the world with local knowledge and expertise, and together with our long-standing partners in China, we are setting out to make real what matters along the Belt and Road.