Citi holds belt, road client forum in Beijing
The bank serves clients in 58 of the 65 Belt and Road countries
Citi has recently hosted over 220 clients at the bank's Belt and Road Forum event in Beijing, underlining the bank's commitment in supporting Chinese and global clients with the opportunities offered by the Belt and Road Initiative (BRI).
The day included overviews and updates from Citi's team of senior executives from many of the 58 markets the bank covers across the Belt and Road.
The BRI's 65 markets account for close to 40 percent of global trade and 30 percent of GDP, the bank said in a statement yesterday.
“It is home to more than 4.6 billion people, or over 60 percent of the world's population.”
Francisco Aristeguieta, CEO of Citi Asia-Pacific, who opened the conference said: “The BRI is a transformational global project that enables economic growth and progress.”
“Citi is ideally positioned to be the partner of choice for our clients with unparalleled in country capabilities, local expertise and an unrivalled global network across the Belt and Road.”
Sajedul Islam, director and acting Citi country officer for Bangladesh, said: “In line with the global initiative, Citi Bangladesh is also participating in this endeavour to bring local and global investors in one platform for deeper integration.”
In the 1860s, the bank supported the laying of the first transatlantic cable, in the 1900s the opening of the Panama Canal that brought trading nations closer together, according to the statement.
The event also highlighted an overview of Citi's capabilities across the Belt and Road initiative from areas such as corporate and investment banking, treasury and trade, lending and local markets, including foreign exchange and hedging.
Citi has over 100 years of history of operating across the countries along the Belt and Road.
Citi commenced operations in 1902 across Asia, including China and in Central Asia.
The bank was among the first international banks to commence operations in Kazakhstan, opened in Russia in 1916 and the bank's history in countries across the Middle East and Africa stretches back to the 1950s.