'One Belt One Road' headed for critical juncture

The Silk Road Economic Belt and 21st Century Maritime Silk Road initiative will reach a critical stage of implementation with over 50 countries already expressing interest in taking part this year, China's Minister of Commerce said on Saturday.

Minister Gao Hucheng said China has already held a lot of discussions with countries along the routes over various projects, some of which are in the process of implementation, others still being planned.

"I believe that 2015 will provide the development of the 'One Belt One Road' initiative with a great start," said Gao.

The minister said that although the "One Belt One Road" is an initiative primarily raised by China, it is fundamentally open and inclusive in nature.

"Any interested countries, regions and regional organizations can take part following the principles of consultation and co-development," he said.

In November last year, China pledged $40 billion to set up a Silk Road fund to improve connectivity across Asia by investing in infrastructure, resources and industrial and financial cooperation, among other projects.