This indicated that the forum participants appreciated the fact that the initiative, though started by China, allows many countries to participate and contribute in various ways so that all participants will benefit from it, he said.

The participants agreed to promote international cooperation on the implementation of providing financial, technological and other resources required in the implementation of the mega projects under the initiative, such as the development of transport links via waterways, railways, roads and others.

The forum participants also agreed that they would jointly try to deal with challenges facing the global economy, he said.

The Belt and Road Initiative is expected to make tremendous gains from its ongoing and expanded implementation, he said. Africa has suffered greatly from poor and inefficient infrastructure which has rendered Africa a weak partner in global trade.

Currently, Africa accounts for less than 3 percent of global trade largely due to poor and inadequate infrastructure which makes the country's exports lack global competitiveness due to high unit costs of exports and imports, he said.

The projected expansion and modernization of land and sea routes are expected to change this, Ikiara said, adding that already modernized ports in Kenya, Ethiopia, Tanzania and other parts of the continent are having a visibly significant impact.

The rapidly increasing railway transportation through the development of the Standard Gauge Railway (SGR) projects mainly supported by China in countries like Kenya and Ethiopia, which are participants in the Belt and Road Initiative, is demonstrating the transport revolution to be witnessed in Africa in the coming decade.

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