Regional connectivity through Belt and Road Initiative:

I'm Azka, and I completed my BS Degree in International Relations in

2021 from the International Islamic University Islamabad.

Introduction:
The Belt and Road Initiative (BRI) is a prolonged strategy of China to upgrade its economy and the
participating states' economies and to have an immense influence in the global arena given by Chinese
President Xi Jinping in 2013. It has two main components: The land-based Silk Road Economic Belt
extends from China to a long way from Central to South Asia, the Middle East, and Europe, while the
sea-based 21st century Maritime Silk Road creates the linkage between the continents through sea
lanes which include nations of Southeast Asia, The Gulf countries, North Africa, and on to Europe. The
third component launched recently is the Digital Silk Road to expand the construction of cross-border
optical cables and spatial and satellite information passageways. The Belt and Road intends to upgrade
regional connectivity and cooperation through infrastructure development, trade, interpersonal ties, and
investment in Asia, Europe, and the Middle East. The inspiration was the ancient Silk Road, a famous
trade route that facilitated trade and cultural exchange for centuries in the Eurasian continent.

Geographical coverage:

Many nations from different continents have joined this initiative. It includes Forty-four countries in
Sub-Saharan Africa, Twenty-five in Pacific and East Asia, Thirty-five in Central Asia and Europe,
Eighteen in the Middle East and North Africa, Twelve in South Asia, Twenty-one in Latin America
and the Caribbean, and seven in North America.

Building the backbone of connectivity:

Economic Integration:
The aim is to build digital infrastructure, improve transportation networks, reduce trade barriers, and
upgrade regional trade and cross-border investments. It has opened a new door for international trade.
Participating nations can now gain access to huge markets that allow their businesses to expand.

Finance:
The Asian Infrastructure Investment Bank and the Silk Road Fund finance all infrastructure projects
to enhance financial stability and promote inclusive development. BRI is also seeking the attention of
Foreign Direct Investment to stimulate infrastructure development, industrial cooperation, and
sustainable development. The Chinese financial institutions or contractors provided the loans for the
construction contracts. Under BRI, the process of building roads, power plants, railways, 5g networks,
and fiber-optic cables has escalated with the funding of Chinese companies and banks to reach the
corners of the world.

Unlocking Economic Potential:

There are six economic corridors with different projects, but the main focus is to facilitate
regional connectivity.
China-Pakistan Economic Corridor:
This corridor aims to strengthen the bond between Pakistan and China. By the end of 2019, China
invested 12.4 billion dollars only in the power plants in the Gwadar port. The development of the
Gwadar port will surely help China to sell its goods in Pakistan and gain access to the Arabian Sea
and the Indian Ocean.
New Eurasia Land Bridge Economic Corridor:
This international passageway links the Pacific and the Atlantic. This corridor has an international
railway line that connects China with Russia, Central Asia, Western Europe, and Eastern Europe.
This route will foster trade and other exchanges between nations from Asia to Europe.
China-Mongolia-Russia Economic Corridor:
This corridor aims to upgrade the local economy through the Mongolia Steppe Road program. The
project is also underway to construct a railroad bridge over the Amur River that connects Russia
and China. There is a free trade deal with Russia to expand trade and cooperation.
China-Indochina Peninsula Economic Corridor:
This corridor aims to upgrade trade. It links China to five countries of Indochina: Myanmar, Laos,
Cambodia, Thailand, and Vietnam, along with Singapore and Malaysia. A high percentage of exports
from these states to China will benefit each state from this connectivity. China is building railway
links through these states.
Bangladesh-China-India-Myanmar Economic Corridor:
It is one of the least active corridors as China and India disagree on mutual points. Due to this, the
progress is up in the air. This corridor will help China to ship its oil to the Malacca Strait. It can
only happen if the construction of oil and gas pipelines through Myanmar proceeds further.
China-Central Asia-West Asia Economic Corridor:
Mainly focuses on transport infrastructure and connectivity, with the help of Railway networks from
China to the Mediterranean Sea. It will enhance connectivity between China and the five Central
Asian States with Turkey and Iran. China is also creating roads and other infrastructure projects in
Central Asia.

Digital Connectivity:
It includes the development of telecommunications networks, data centers, and e-commerce
platforms to exchange information and cooperation.
Potential Opportunities
As some countries that have signed up are living below the poverty lines, if this initiative becomes
successful, it will be a game changer for economies. It will lift many poor economies and bring
global welfare.
It will increase trade by 9.7%, increase income by up to 3.4%, and create more jobs in a global
market that will surely lift many people from extreme poverty.
BRI will promote international commerce to help countries lagging in trade due to poor
policy, inadequate infrastructure, and other reasons.
BRI is upgrading the trade procedure by reducing trade barriers, streamlining customs procedures,
and smoothing regulations.
It will enhance efficiency and unlock new opportunities for regional connectivity.

Challenges:
Multiple risks are involved: environmental, social, corruption, and debt risks. More chances are for the
nations with weak governance. There is a high chance of restrictions from Foreign Direct Investment
to participating States. These issues need to be addressed by Development Banks to minimize their
worse effects. These include biodiversity loss, environmental degradation, elite capture, and delayed
crossing of borders. The BRI routes pass through areas likely to flood and landslides.

Conclusion and Recommendation:

The Belt and Road Initiative became a key influencer for regional connectivity through infrastructure
development and economic integration. The BRI will continue to expand its projects to have more
reach. If BRI works on different areas like strengthening legal frameworks, high governance
standards, sustainable investments, risk management, fostering funds, multilateral beneficial policies,
promoting international welfare and shared prosperity. These measures will contribute to a high extent
to flourishing regional connectivity.