Over 700 business representatives, scholars and government officials from 70 countries and regions have met in Beijing to brainstorm on how to enhance cooperation in infrastructure and trade investment. And as trade protectionism becomes part of a strategy for some countries, the topics concerning globalization and free trade were certainly hot at the forum.  

Peter Mihok, chairman of World Chambers Federation,  hailed China's effort to promote global trade under its Belt and Road Initiative (BRI) – the focus of the event.

He said connectivity and openness are key to trade and he appreciated the opening up of the Chinese market as a sign that the country is supporting globalization and the liberal market.

Yassin Saeed Al-Suroor, president of Arab Economic and Business Group, said China is the largest exporter to Saudi Arabia. He believes that with the Silk and Road Initiative his country can expand investment, especially in a public-private partnership.

At the forum, Chinese businesses were encouraged to bring e-commerce, big data, cloud computing, and artificial intelligence services to countries along the BRI trading routes to help them develop a digital economy.

The First Belt & Road Trade and Investment Forum. / CGTN Photo

Most recently, Chinese President Xi Jinping reiterated the promise to open up markets from banking to auto manufacturing, 

His speech at the Boao Forum for Asia also warned against returning to a "Cold War mentality'' amid trade disputes with the US.

Philip Kucharski, the chief operating officer of the International Chamber of Commerce, said, "Nobody can ever win a trade war. Protectionism is a disease, it is like cholesterol. Trade is what keeps up the blood flowing. We are absolutely opposed to protectionism of all sorts. The ICC was created to really promote not only open trade but responsible and sustainable trade."  

Kiprono Kittony, national chairman of the Kenya National Chamber of Commerce and Industry, said, "China needs to get more market access and capacity building to Africa so as to deal with problems of poverty in some countries and to allow more trade to take place. Now I think the trade is more one-sided but we very much share the global vision of President Xi who is a real global leader."

Officials say plans are underway to boost innovation in overseas investments, improve efficiency in foreign aid, step up cooperation, as well as deepen regional economic and trade cooperation.