The Chinese Belt & Road Initiative (BRI) initiated in 2013, aiming to build a trade and infrastructure network connecting Asia with Europe and Africa along ancient Silk Road Trade Routes.

Adamos Adamou, President of Cyprus House of Representatives, hailed on Tuesday the Chinese Belt & Road Initiative (BRI), saying it signals a new era in multilateral cooperation.

Addressing an online forum held here commemorating the 50th Anniversary of China-Cyprus diplomatic ties, Adamou said the BRI is by definition a global project, turning China into a “protagonist of economic cooperation, trade and globalization.”

The initiative aims to promote international connectivity, global growth and development and increase mutual understanding, respect, trust and friendly relations between peoples and countries, “thus signaling a new era in multilateral cooperation.”

It reflects the vision of enhanced multilateralism, through building bridges between continents, nations and citizens, he added.

“Not only political, economic and financial bridges, but also synergies, which further promote our diverse and rich history, heritage, knowledge and culture,” said the House president.

China proposed the BRI in 2013, aiming to build a trade and infrastructure network connecting Asia with Europe and Africa along ancient Silk Road trade routes.

Adamou said the current health crisis underlines the interdependence and interrelatedness of the world, “stipulating for effective multilateralism, not only to recover from this emergency, but also to change for the better.”

“The need to uphold multilateralism is therefore all the more relevant and urgent.”

He said Cyprus believes that a comprehensive strategic partnership between Europe and Asia, based on common adherence to market rules and international norms and standards, will be mutually beneficial and will further reinforce economic, trade and investment relations between the two continents.

Titled “Governance Experience Sharing for a Common Future: Commemorating the 50th Anniversary of China-Cyprus Diplomatic Relations,” the online forum was co-organized by the Chinese Embassy in Cyprus and the European University Cyprus, bringing together scholars, politicians, business people as well as key policy and decision-makers from Cyprus, China, Greece and Britain.

Addressing the forum, Chinese Ambassador to Cyprus Liu Yantao said this year marks the 100th anniversary of the founding of the Communist Party of China and the 50th anniversary of China-Cyprus diplomatic ties.

“It is very important for us to discuss governance at this right moment,” he said, noting China always believes that there is no one-size-fits-all governance model.

“Whether a model is good or not should be based on specific national conditions, whether the fundamental interests of most people in the country are effectively protected, whether the common wishes are met to the greatest extent, and whether the country contributes to world peace, development, cooperation, win-win result, harmony, and progress,” said the ambassador.