China’s One Belt, One Road initiative will bring opportunities not only for China, but for Korea and other nations, Chinese Ambassador Xing Haiming said at the Eurasian Economic and Cultural Forum on Oct. 20.

The forum is hosted weekly by The Korea Herald to share and enhance knowledge of the international community and expand business networks.

The forum brings diplomats, CEOs and experts from Europe and Asia together to build ideas for cultural and business transformations, and to seek collaborations for shared interests and goals.

Delivering the opening remarks at the forum’s second weekly gathering, Xing stressed on China’s recent development, saying China’s position as the world‘s second-largest economy puts its development within the framework of human development as a builder of world peace, contributor to global development, protector of the international order, and a provider of public goods.

He referred to the “One Belt, One Road” joint construction initiative proposed by President Xi Jinping eight years ago saying that the project opened new a chapter for mutual learning and regional coexistence.

Xing said the initiative adhered to the principles of joint discussion, joint construction and common prosperity, aiming to pursue high standards, livelihood benefits and sustainable goals.

According to Xing, China in future, will continue to grow together with the country’s production and services and boost cohesive development as a “World factory” and “World market.“

“China will provide wider market, more valuable opportunities for cooperation, and a greater space for growth to companies in Korea and other countries through these developments,“ Xing said during his opening remarks at the Eurasian Economic and Cultural Forum 2021.

Xing hoped that private sector cooperation would also enable China and Korea to strengthen collaboration in the markets of third countries.

“The Chinese Embassy in Seoul is looking forward to facilitate Korean companies on this front,“ the Chinese ambassador said, inviting Korean investment in various sectors.

The Eurasian Economic and Cultural Forum, in its first year, is featuring key figures taking lead in the region’s industrial, cultural and political transitions.