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China, Egypt join hands to write new chapter of Suez Canal development

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BACKGROUND
The Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road proposed by Chinese President Xi Jinping in 2013. The initiative aims at promoting policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bond in the international community.
HISTORY

The concept of the Belt and Road Initiative is inspired by the ancient Silk Road that witnessed hundreds of years of booming trade and cultural exchange on the Eurasian continent. The newly launched Belt and Road intends to bring countries in the world closer than ever.

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