The Belt and Road Initiative (BRI) proposed by China in 2013 was hailed for promoting world peace and stability by strengthening win-win cooperation at the Eurasian Economic Summit on Thursday.

A special session entitled "Longing for Peace: Belt and Road Is 11 Years Old" was held on the second day of the summit, summarizing the accomplishments and contributions of the BRI.

Speaking at the session, Liu Gang, president of Xinhua Institute, a Chinese think tank, said since the launch of the BRI, documents have been signed for more than 3,000 projects under the initiative, generating investment amounting to 1 trillion U.S. dollars.

"This is an important example of how China puts the building of a community with a shared future for mankind into practice," Liu said, adding that the BRI "has constructed a new framework for international cooperation, seeking the widest possible converging interests for the shared development of humanity."

Vladimir Norov, former foreign minister of Uzbekistan and former secretary general of the Shanghai Cooperation Organization (SCO), said the BRI has been giving impetus to the development of the world economy by creating a global network of interconnection.

Norov said the transcontinental transport line connecting China and Europe played an important role in stabilizing the global supply chain, especially during the COVID-19 pandemic.

"Transport interconnection on the basis of the modern world economy allows the exchange of goods, capital and services between countries and further strengthens international economic cooperation," he added.

For Nedzad Lokmic, minister for issues of combatants and disabled veterans of the Defensive-Liberation War of Bosnia and Herzegovina, the BRI is "extremely" important for all humanity as it promotes unity.

"Living in peace is not only a challenge but also a moral and political responsibility which we share to create a better future for all of us," Lokmic noted.

Organized by the Istanbul-based Marmara Group Strategic and Social Research Foundation, the 27th Eurasian Economic Summit kicked off on Wednesday with a focus on solutions to the challenges impacting global growth.