THE SIX THEORETICAL CHARACTERISTICS OF THE BELT AND ROAD INITIATIVE AND ITS SIGNIFICANCE IN BULGARIA AND CENTRAL AND EASTERN EUROPE

Abstract

The Belt and Road Initiative (BRI), first proposed in 2013 by Chinese president Xi Jinping, has now come into its seventh year. In October 2020, the fifth plenary session of the 19th Central Committee of the Communist Party of China adopted the 14th Five-Year Plan (2021-2025), reaffirming the importance of promoting and cooperating on the high-quality development of the BRI. The BRI has not only provided a new channel for China’s reform and opening up policy, but also provided a platform for international cooperation to boost global economic recovery, growth and development. With the concerted efforts of all stakeholders, the BRI has become popular international public goods and the world’s largest international cooperation platform. Given that the COVID-19 pandemic is still spreading globally and that countries are facing the dual challenges of fighting the pandemic and recovering economically, the joint promotion of BRI cooperation has a more prominent significance due to its inherent theoretical and practical characteristics.