Scottish Chambers signs deal to access China’s multi-trillion-dollar Belt and Road Initiative.

The agreement, which was signed as part of the Belt and Road Trade & Investment Forum in Beijing, was reached on the eve of a 10-day SCC-led Trade Mission to Shenzhen, Beijing and Shandong Province.

The B2B-focused mission, which builds on gains from a succession of SCC-led initiatives in Beijing and Shandong, is expected to deliver substantial trade agreements for participating Scottish businesses.

China’s Belt and Road Initiative, a central policy of China’s President Xi Jinping is aimed at linking China to the West via a land and maritime infrastructure network across Eurasia. It is estimated to require between $4-$8 trillion of investment, and offer a wealth of business opportunities to non-Chinese companies.

The 11-point Belt and Road MoU was signed by David Valentine MBE, SCC’s International Trade Ambassador for China and Mr Sun Xiao, director general for multilateral cooperation with the China Chamber of International Commerce (CCOIC).

The signing took place at the 2-day Belt and Road Trade & Investment Forum in the Diaoyutai State Mansion in Beijing, attended by around 500 Chinese officials, national leaders and business representatives from over 70 countries.

David Valentine said: “This is an historic agreement that will give Scottish businesses enhanced access to one of the most ambitious and visionary infrastructure plans of the modern era. It marks a step change in the development of B2B links between Scotland and China. Forging relationships such as these is the key to improving Scotland’s share of UK trade with the world’s most populous nation.“