The most promising development path for southern countries worldwide is cooperation, as evidenced by the Shanghai Free Trade Zone, President of the New Development Bank
At the 10th anniversary theme forum of the construction of the China Pilot Free Trade Zone held on the morning of September 20th, Dilma Rousseff, President of the New Development Bank of the BRICS countries, delivered a keynote speech.
She stated that the Shanghai Pilot Free Trade Zone is an innovative initiative in China, drawing on the customs experience of supporting the development of foreign trade related activities in areas such as Waigaoqiao, Yangshan Comprehensive Bonded Zone, Pudong Airport, and Jinqiao Export Processing Zone over the past few decades, and further strengthening the development of finance and high-tech industries through reforms, providing sufficient excellent cases for global economic transformation and modernization.
She said that the BRICS New Development Bank is honored to receive important support from China and Shanghai. Since its establishment, the New Development Bank of the BRICS countries has actively participated in financial investment, fully promoted sustainable development, continuously promoted innovation, and contributed to further creating wealth, increasing economic interdependence, and promoting trade development for member countries. "We hope to fill the investment gap in southern countries around the world."
She further stated that current protectionism is resurgent, and some policies are hindering the economic and technological development of developing countries. The overall well-being of people is affected, and overall productivity is hindered. The paradigm of global cooperation and dependence is shifting towards conflict and protectionism, bringing restraint to the development of southern countries worldwide. However, the practice of the Shanghai Pilot Free Trade Zone has shown that the most promising way for southern countries worldwide is through cooperation, the pursuit of benign interdependence, and inclusive and sustainable development.
"China has chosen to integrate and participate in the global economic value chain, and Shanghai plays a significant role in this process. Looking towards the future, the government, entrepreneurs, and investors still have a strong development vision, which requires innovative and unified policies, long-term, and structural strategies to help further develop trade services and financial technology. This is the work being promoted by the Shanghai Pilot Free Trade Zone, and we hope that future development can be more prosperous," said Dilma Rousseff.