Switzerland has engaged in China‘s new Silk road project, or Belt and Road Initiative, concluding the talks with memorandum signatures of Swiss President Ueli Maurer and his Chinese counterpart Xi Jingping in Beijing.
The massive Chinese trade initiative involves the construction of ports, roads, railways and other infrastructure to upgrade commerce between China and the world.
“The aim is for both countries to expand cooperation on trade, investment and finance for projects in third countries along the routes” of the Belt and Road Initiative the Swiss government said in a statement.
The US has accused the New Silk Road of luring developing countries into debt by offering cheap financing they cannot afford.
Critics also warn that poorer countries could become politically dependent on China, and that Chinese companies seem to win many of the project contracts.
The biggest infrastructure project in the world. An estimated 60% of humanity, and 35% of the world’s economy will be included.