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Lisbon and Beijing to endorse new Silk Road understanding

Lisbon, Portugal (PortSEurope) December 3, 2018 – The ambassador of the People’s Republic of China in Portugal, Cai Run, has confirmed the intention of Lisbon and Beijing to endorse an understanding within the framework of the One Belt, One Road project (new Silk Road), the international strategy of Chinese initiative to build infrastructures in commercial logistics corridors.

The signing of the memorandum of understanding between the two countries for the inclusion of Portugal in the initiative had already been anticipated by Portuguese Foreign Minister Augusto Santos Silva in October during a visit to Macau. “We will strengthen our relations on the initiative,” said Cai Run.

The understanding should be signed during the stay of Chinese President Xi Jinping, who will be on an official visit to Portugal, coming from the G20 summit that took place in Argentina. The interest in attracting China to Portuguese ports has been manifested at various times by the Portuguese Presidency and the Portuguese government. Sines and the deep water port of Praia da Vitória in the Azores are seen as infrastructures with the capacity to attract Chinese companies. Chinese companies, already have presence in Spanish ports such as Valencia. SHipping and ports giant COSCO has been particularly active.

However, the government of Spain, where Xi Jinping moved late last month, rejected the signing of a memorandum of understanding for the country’s inclusion in the new Silk Road initiative. The decision was taken by Madrid due to the fact that the European Union itself launched an initiative to promote infrastructure in the Eurasian corridors.

The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as The Belt and Road, One Belt, One Road (or the Belt and Road Initiative is a Chinese development strategy and framework that focuses on connectivity and cooperation among countries primarily between China and the rest of Eurasia, which consists of two main components, the land-based “Silk Road Economic Belt” (SREB) and oceangoing “Maritime Silk Road” (MSR). The strategy includes acquiring stakes in ports and other transport facilities to improve and speed up the transport of goods between China and Europe.

Source: Dinheiro Vivo

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