In the past six years, the Belt and Road Initiative (BRI) has become a global public good with vitality and creativity. To date, more than 150 countries and international organizations have signed BRI cooperation agreements with China. Under the BRI, 82 overseas economic cooperation zones have been set up in participating countries. Trade between China and the BRI partner countries has exceeded $6 trillion. The more than $80 billion of Chinese investment in these countries has created 240,000 local jobs.

Why has the BRI won so much support? To sum up, it follows the principle of equality and mutual benefit, aiming for win-win outcomes. It is an open, inclusive and rules-based initiative, ready to synergize development strategies of partner countries.

ASEAN is an important participant in the BRI. In the past six years, a large number of cooperation projects between China and ASEAN countries have been incorporated into the BRI cooperation framework. More and more practical plans are being actively explored.

The first is the political advantage. Belt and Road cooperation requires solid political mutual trust. The political relationship between China and ASEAN is very strong. China is the first dialogue partner of ASEAN to accede to the Treaty of Amity and Cooperation in Southeast Asia and forge a strategic partnership with ASEAN. In 2018, both sides issued the China-ASEAN Strategic Partnership Vision 2030, which laid out a medium- and long-term blueprint.

Leaders from China and ASEAN countries have maintained close exchanges. At the China-ASEAN Summit held every year, the leaders hold candid discussions on major issues of common concerns and make political decisions to ensure that bilateral cooperation is proceeding on the right path. Strengthening synergy between the ASEAN development strategy and the BRI has become the consensus of leaders of both sides.

The second is the institutional system advantage. Under the China-ASEAN cooperation mechanism, the two sides have developed effective cooperation in more than 20 fields such as connectivity, finance, agriculture, information and communication technology, human resources development, investment, energy, culture, tourism, public health, environment and sub-regional development. China and ASEAN should strengthen BRI cooperation to bring these dialogue mechanisms into full play.

China has established a dialogue mechanism at the vice-premier or ministerial level with several ASEAN countries. Any bilateral cooperation under the BRI can be fully coordinated and promoted through intergovernmental dialogue. China has also signed bilateral investment agreements with several ASEAN countries. There are multiple insurance mechanisms for bilateral cooperation, and there are no so-called traps as claimed by the West. Everything runs under the sun, and any conspiracy theory is untenable.

The third is the geographical advantage. China and ASEAN countries are close neighbors linked by mountains, rivers and seas. We are a community with a shared future, and share weal and woe on the road to common development and prosperity. This has been fully verified by the handling of the two financial crises in 1997 and 2008 with joint efforts of China and ASEAN. In a world with increasing trends of unilateralism and trade protectionism, China and ASEAN need to work together to seek common development. It is of overriding importance for us to seek self-development, mutually beneficial cooperation and maintain regional sustainable development and prosperity. Belt and Road cooperation has built a new platform and points to a new direction for China-ASEAN future comprehensive and pragmatic cooperation.

ASEAN is committed to promoting the implementation of the Master Plan on ASEAN Connectivity (MPAC) 2025, which is consistent with the goal of the BRI to promote regional connectivity. If the two initiatives are successfully synergized, the ASEAN connectivity project will get more support from China and the rest of the world, which will improve its commercial value and meet its long-term development goals.

The fourth is the market advantage. China and ASEAN together are a big market with a population of more than 2 billion. At present, trade between the two sides is close to $600 billion per year, and total mutual investment has exceeded $200 billion. Financial cooperation, including currency swap arrangements, has also achieved remarkable results. People-to-people exchanges have exceeded 50 million trips per year. This is a huge improvement compared to the past. But considering the market potential of both sides, it may be just the beginning. In the next 15 years, China’s imports of goods and services are expected to exceed $30 trillion and $10 trillion respectively. For ASEAN, it is an important opportunity for expanding cooperation with China and accelerating its own development.

Belt and Road cooperation provides a viable opportunity for the integration of the two markets. The two sides have the ability and conditions to tap the market potential, mobilize various resources, expand cooperation in various fields, and implement mutually beneficial measures to strengthen the win-win situation.

The fifth is the people-to-people exchanges advantage. China and ASEAN countries have similar cultures and customs. Belt and Road cooperation will help improve the infrastructure, expand trade exports, improve people's employment and living standards, and will certainly gain the understanding and support of the people of both sides. At present, nearly 30 million Chinese tourists visit Southeast Asia every year. This number will rise with the improvement of infrastructure connectivity. The number of ASEAN tourists visiting China will also increase quickly. Youth is the future and hope for the development of China-ASEAN relations. There are currently about 200,000 Chinese and ASEAN students studying in each other's countries. China and ASEAN have got all the advantages in jointly building the Belt and Road Initiative, and will also work together to write a brand new chapter for win-win cooperation in the coming future.

Hu Zhengyue is vice-president of China Public Diplomacy Association.

The author contributed this article to China Watch exclusively. The views expressed do not necessarily reflect those of China Watch.

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