China’s BRI seen boosting trade with Asean to US$2.1 trillion

KUALA LUMPUR: China”s “Belt and Road Initiative” (BRI) is expected to boost the flow of trade between China and Asean’s six biggest economies – Malaysia, Indonesia, the Philippines, Singapore, Thailand and Vietnam – to an investment amount of about US$2.1 trillion by 2030, revealed an analysis by HSBC .

HSBC Bank Malaysia Bhd chief executive officer Mukhtar Hussain said BRI was a strategy to build the transport links and logistics capacity to boost the flow of trade between China and more than 60 countries in Asia, the Middle East, Africa and Europe to an estimated US$2.5 trillion annually in the coming decade, from about US$1 trillion now.