The first "Silk Road Investment Forum" is scheduled to be convened on June 7-9, with the attendance of government officials from China and Central Asian countries, investors and representatives of non-government organizations (NGOs) from the region.

The forum is sponsored by the United Nations Development Program (UNDP), in collaboration with UN Conference on Trade and Development (UNCTAD), UN World Tourism Organization (UNWTO), China International Center for Economic and Technical Exchanges (CICETE), Xi'an Municipal Government, BOAO Forum for Asia, and China Group Companies Promotion Association (CGCPA).

At Thursday's press conference, Khalid Malik, UN resident coordinator and UNDP resident representative in China, expressed his hope that the forum will serve as a catalyst for increased regional cooperation between China and Central Asia.

"China can profit from the combined market of Central Asia, its resources and educated workforce. Central Asia stands to benefit directly from China's rapid development and outward foreign investment," he said.

The forum is organized under the Silk Road Initiative (SRI), a regional UN program launched in Beijing in March 2005. Targeting investment, trade and tourism, the program aims to enhance regional cooperation and development in the Silk Road region, and presently including China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

"On a larger scale, the program is aimed at contributing to the achievement of the Millennium Development Goals of reducing poverty and fostering sustainable development," said Wojciech Hubner, chief technical advisor of the Silk Road initiative.

The Silk Road initiative is a joint UN effort by UNDP, UNCTAD and UNWTO, which cooperates closely with regional partners such as BOAO Forum for Asia, Shanghai Cooperation Organization, and ADB's CAREC program, according to Hubner.

Wang Yi, director of the municipal investment bureau of Xi'an, announced that the city plans to host a Silk Road Exposition in the future, establish a new industrial development zone particularly for the Silk Road region. He also proposed that special tariff arrangements should be launched in the region.

Source: Xinhua