HAMBURG -- Officials, scholars and entrepreneurs gathered at the Hamburg Summit on Monday, eyeing more economic cooperation against the backdrop of rising protectionism.

The China-proposed Belt and Road Initiative is well discussed at the two-day "Hamburg Summit: China meets Europe", which opened on Monday.

In an opening speech, former German Chancellor Gerhard Schroeder said the opportunities created by the Belt and Road Initiative will bring people and businesses in Asia and Europe closer together.

"This initiative has been received with great interest all over the world -- including Germany and Europe. It is a strong signal that China wants closer, faster, better connections with its main trading partners," Schroeder said.

He also called on closer Sino-Germany cooperation to strengthen multilateralism and fend off new threats.

Schroeder is the Honorary Chairman of the Hamburg Summit, which is initiated by the Hamburg Chamber of Commerce in 2004.

Proposed by China in 2013, the initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road trade routes to seek common development and prosperity.

Echoing Schroeder's remarks, Peter Helis, Vice Chairman of the European Union Commerce Chamber in South China, encouraged the EU enterprises to engage more in the Belt and Road Initiative.

Helis described the initiative as a multi-dimensional infrastructure network, underpinned by economic corridors featuring land-sea-air transportation routes.