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The three-day Silk Road Economic Belt- Xinjiang Karamay Forum came to a successful conclusion in Karamay, Xinjiang Uygur autonomous region on Aug 11 with 28 contracts worth an estimated 62.57 billion yuan ($9.43 billion) being signed during the forum.

Iran and Kazakhstan joined with China and Pakistan in hosting the 12 countries and assembled guests participating in the forum. The forum adopted the “1+7” format (one major forum in addition to seven sub-forums), providing a greater number of opportunities for strong communication and cooperation on specific topics.

The 28 contracts signed involved cooperation in the fields of finance, medicine, environmental preservation, tourism, and construction. Construction contracts that were signed had a heavy focus upon developing the infrastructure of the energy industry.

The forum, a more thorough and holistic version of the China-Pakistan Economic Corridor Forum, aims to provide a communication bridge promoting economic and social development for countries along the Belt and Road Initiative.

The Forum strives to strengthen cooperation between these countries by creating a platform for conversations about infrastructure construction, energy cooperation, information exchange, and cultural communication. It is hoped that the Forum will become an annual affair.

The forum was hosted by the People’s Government of Xinjiang Uygur autonomous region and the Chinese Academy of Social Sciences (CASS). The hugely successful forum was attended by 400 leading figures from the governments of China, Pakistan, Iran and Kazakhstan, as well as representatives from businesses and think-tanks.

Leading figures celebrate with each other during the signing ceremony of Xinjiang Karamay Forum in Karamay, Xinjiang Uygur autonomous region on Aug 11. [Photo provided to chinadaily.com.cn]

Attendees from different countries exchange views during the forum. [Photo provided to chinadaily.com.cn]

China and Pakistan sign a contract during the ceremony. [Photo provided to chinadaily.com.cn]