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About Us

Metro Logistics is a Georgian transportation company established in 12 th March of 2018. We have transportation services all around the world. Three ways to move your cargo from one point to another – road, sea and air – we provide all of them. As well as warehouse is one of the most important point in logistics business, our company also has warehousing support.

We streamline each of your supply chain – order, pickup, storage, trucking, delivery. Metro logistics offers you specialized solutions for storage foodstuffs and perishables, clothes, pharmaceutical and healthcare products, automotive and spare parts and etc. With our highly experienced logistics managers, your goods are always safe and delivered on time.

Air Cargo

Air cargo is the best way to deliver your goods as soon as possible. To find a balance between price and time. Air is the best way of transportation if you are in hurry and need your goods to be delivered the fastest way from any point of the world.
service air

Sea Cargo

Sea cargo is a good way for your goods to deliver from any continent on time and safe. We offer you full container load and less than container load service. Our reliable sea cargo service ensures your goods to reach any port of the world.
service sea

Rail Transport

For the wheat, coal, oversized goods and cargo like them, the best way is a rail cargo. We offer you this kind of transport to deliver bulk goods fast, cost-effective and safe way.
service rail

Road Transport

Trucking is the most common way of transportation. We provide regular and fast way of transporting your goods on land. Our company offers LTL and FTL services, which are tailored on your requirement.
service road
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Company News

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Nov
15
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Metro Logistics – სწრაფად მზარდი ქართული კომპანია

საერთაშორისო ლოგისტიკური კომპანია Metro Logistics სამი წელია, რაც დაფუძნდა, თუმცა, ეს დრო საკმარისი აღმოჩნდა იმისათვის, რომ მსოფლიოს სხვადასხვა ქვეყანაში დაემკვიდრებინა თავი. ლოგისტიკის უზარმაზარი სფერო მუდმივ განვითარებასა და საბაზრო ეკონომიკის ცვალებად მოთხოვნებზე მყისიერ პასუხს ითხოვს. სწორედ ასეთია კომპანიის ახალგაზრდული გუნდიც – ახალ ინიციატივებსა და ინოვაციური სერვისების დანერგვაზე ორიენტირებული.

Metro Logistics-ის დამფუძნებელი და დირექტორი თემურ გუმბერიძე გვიყვება იმ გზასა და წარმატებებზე, რამაც კომპანია დღემდე მოიყვანა:

„ლოგისტიკის სფეროში ძალიან დიდი კონკურენციაა. თუმცა, მალევე მივხვდით, რომ რაც უფრო მეტი კონკურენტი გყავს, წარმატების მიღწევის შანსიც მეტია. სწორედ კონკურენცია გიბიძგებს ფიქრისკენ, მოქმედებისა და განსხვავებული სერვისების დანერგვისკენ. 

Metro Logistics რამდენიმე დიდი ქსელის წევრი მალევე გახდა. ამან საშუალება მოგვცა, უკვე წარმატებული კომპანიებისგან ბევრი რამ გვესწავლა და ეს ცოდნა ჩვენი გაძლიერებისთვის გამოგვეყენებინა. დღეს უკვე ამ უმსხვილესი საერთაშორისო კომპანიების პარტნიორები ვართ და მათთან აქტიურად ვთანამშრომლობთ“.

2019 წელს, კომპანიის დაარსებიდან ერთი წლის შემდეგ, წარმომადგენლობითი ოფისები თურქეთში, მომდევნო წლებში კი აშშ-სა და ჩინეთში გახსნეს. ახალი ოფისის მშენებლობა რამდენიმე კვირის წინ ბულგარეთში, ქალაქ სოფიაშიც დაასრულეს და კიდევ ერთი მნიშვნელოვანი მიზანი განახორციელეს. ამ ქვეყნებთან მჭიდრო კავშირმა უფრო მოქნილები გახადა. საქმიანობა ორ კონტინენტზე გააგრძელეს და ახლა  სატრანსპორტო გადაზიდვების დაუბრკოლებლად წარმოება შეუძლიათ ნებისმიერ ქვეყანაში.

„წელს კომპანიამ იტალიიდან სომხეთში არაგაბარიტული ტვირთის ტრანსპორტირება უზრუნველყო. ეს განსაკუთრებით საპასუხისმგებლოა, რადგან დიდი ზომის ტვირთის გადაზიდვას დეტალური პროექტი სჭირდება – ზუსტად უნდა გათვალო და მოხაზო გზები, სადაც მას დაბრკოლებები არ შეექმნება. ამ პროექტით 6 ქვეყანა დავფარეთ და ტვირთი დანიშნულების ადგილამდე გართულებების გარეშე მივიტანეთ“, – ამბობს თემურ გუმბერიძე.

Metro Logistics სატრანსპორტო გადაზიდვებს ერთნაირი წარმატებით უზრუნველყოფს სახმელეთო, საზღვაო და საჰაერო საშუალებებით. ამიტომაც, როდესაც პანდემიამ საჰაერო მიმოსვლა შეაფერხა და ბევრი ლოგისტიკური კომპანია დააზარალა, ის სახმელეთო და საზღვაო გადაზიდვებზე გადაერთო და საქმიანობა ძველებურად აქტიურად განაგრძო. 

გუნდი თავის მომხმარებლებსა და პარტნიორებს მრავალფეროვან სერვისს სთავაზობს. კომპანიის საოპერაციო მენეჯერი იოვანე სხირტლაძე ლოგისტიკური სერვისის სრულ მართვაზე გვიყვება:

„კლიენტს შეიძლება ტვირთის მხოლოდ ტრანსპორტირება სურდეს, სწორედ ამას აკეთებს სატრანსპორტო კომპანიების უმეტესობა. ჩვენ კი მათ ლოგისტიკის სრულ მომსახურებას ვთავაზობთ. გუნდი თავად წარმართავს მომწოდებლებთან კომუნიკაციას, ზრუნავს ნებართვებისა და სხვა დამატებითი დოკუმენტების მოწესრიგებაზე, აორგანიზებს და აკონტროლებს ტრანსპორტირების პროცესს, აგვარებს საბაჟო პროცედურებს, ასაწყობებს ტვირთს და სასურველ მისამართზე თავადვე მიაქვს. თითოეული ჯაჭვის განკარგვა ხანგრძლივი და კომპლექსური პროცესია. თუკი ეს ყველაფერი სხვას დიდ დროდ და რესურსად უჯდება, ჩვენ ამ პროცედურებს გაცილებით მარტივად ვაგვარებთ. ამაში წარმომადგენლობითი ოფისები გვეხმარება. გარდა ამისა, Metro Logistics-ის ფარგლებში ახალი კომპანიები – Metro Express და Metro Brokers გავხსენით. პირველი კონკრეტულად საჰაერო გადაზიდვებისთვის საჭირო პროცედურებს, მეორე  კი საბაჟო ფორმალობებს აგვარებს და საჭირო საბუთებს აწესრიგებს. 

ჩვენს ყველა წარმომადგენლობით ოფისს საკუთარი საწყობებიც აქვს და კლიენტებს საშუალებას ვაძლევთ ტვირთი გარკვეული ვადით ჩვენთან დააყოვნონ“.

Metro Logistics

Metro Logistics-მა ცოტა ხნის წინ კიდევ ერთი მნიშვნელოვანი სერვისი – Export Solution შესთავაზა მომხმარებელს. Export Solution-ზე კომპანიის საერთაშორისო გაყიდვების მენეჯერი თამუნა კუპრავა გვესაუბრა: 

„რადგანაც ბევრ გამომგზავნთან, განსხვავებულ ინდუსტრიებთან ვთანამშრომლობთ და ტვირთის ტრანსპორტირებისას ბევრ ქვეყანას ვფარავთ, დიდი გამოცდილება დაგვიგროვდა. ბაზარსაც გაცილებით უკეთ ვიცნობთ, ვიდრე დამწყები ბიზნესმენები ან სტარტაპკომპანიები. ამიტომ, Export Solution მომხმარებელს საკონსულტაციო სერვისს სთავაზობს. ვაცნობთ ბაზრის თავისებურებებს, ვაკავშირებთ უცხოელ პარტნიორებთან, ვუწესრიგებთ საჭირო დოკუმენტებს, ვუთვლით ტარიფებს, ვურჩევთ ტრანსპორტირების გზებს. დახმარებას ლოგისტიკის ნებისმიერ რგოლში ვუწევთ, რითაც ბიზნესის მინიმალური დანახარჯებით აწყობასა და განვითარებაში ვეხმარებით“.

Metro Logistics-მა მალევე მოიპოვა მსხვილი კომპანიების ნდობა.  ის ხშირად იმარჯვებს სახელმწიფო ტენდერებში. კომპანია საერთო სასამართლოების დეპარტამენტისა და თბილისის განვითარების ფონდის პარტნიორია. 2019 წლიდან კი მჭიდროდ თანამშრომლობს დაავადებათა კონტროლისა და საზოგადოებრივი ჯანმრთელობის ეროვნულ ცენტრთან (NCDC) და მისი სამედიცინო ტვირთების ტრანსპორტირებას უზრუნველყოფს. სწორედ Metro Logistics-ია ის ერთ-ერთი კომპანია, რომელსაც პირველი კოვიდტესტების, პირბადეებისა და კოვიდპაციენტებისათვის სტაციონარული საწოლების საქართველოში ჩამოტანა ანდეს. გუნდისთვის ასეთი საპასუხისმგებლო მისიის დაკისრება კარგად გვანახვებს მის ყველაზე ძლიერ მხარეებს – მოქნილობას, სწორ მენეჯმენტსა და სისწრაფეს.  

 

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Nov
15
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Turkey's place in the Asia-Europe logistics reconfiguration

With great ambitions in transport and logistics, Turkey hopes to benefit from the reconfiguration of global supply chains. 

The strategic geographic location of Turkey connecting Asia and Europe has made it an increasingly attractive alternative in the context of global supply chain reconfiguration. The current geopolitical turmoil may also fortify this status. This article examines the growing Turkish economic and transport links with East Asia and Europe.

Turkey’s Growing links with East Asia and Europe

In the past years, the increase in the diversification in both trade and the origins of foreign direct investment reinforces Turkey's emerging position in the global supply chain as a connection between East Asia and Europe.

  • Growing Demand for Asian Intermediate Goods

East Asia[1], especially China, South Korea, and ASEAN, has emerged as an essential supplier of intermediate goods to Turkey over the years. In the last decade, the East Asian supply of intermediate goods to Turkish manufacturing industries increased from 18% to 25% (Figure 1).

turkey_imports_intermediate_goods

Figure 1- Data Source: OECD End-Use Data

The pandemic has especially accelerated Turkey's demand for East Asian intermediate goods in the machinery and electronic equipment sectors (Figure 2).

One exception is the textile sector. Turkish imports of intermediate goods from East Asia has declined from 42% in 2010 to 28% in 2021, though China remains Turkey’s largest textile intermediate material supplier, accounting for 19% of the total supply in 2021 (Figure 2). In lieu, the share of other more geographically proximate textile raw material suppliers, such as Egypt and Uzbekistan, is burgeoning. This trend may signal an increase in efforts to form a more regionalized supply chain in the textile industry.

turkey_intermediate_goods_imports_asia

Figure 2 - Data Source: OECD End-Use Data

  • Expanding Market in the EU and the US

The Turkish manufacturing industry has found a favourable environment for growth in the EU, which has long been the country’s largest partner. In 2021, 45% of Turkey's exports went to the EU, with a 21% higher export value than in 2019. Turkey’s share in the total imports to the EU also modestly increased from 2.6% to 3.7% in the past decade.

Interestingly, Turkish exports to the US, its third largest market, also jumped by 64% compared to 2019. The increasing US demand for both intermediate and finished goods from Turkey can appear counter-intuitive amid the discussion of regionalizing the supply chain and the logistics upheavals. The 2021 growth can be primarily attributed to the US imports of Turkish carpets! This can be associated with the increasing demand for home décor during the pandemic and the US tariff on Chinese carpets.

Overall, the rising Turkish exports to the European and American markets, especially for intermediate goods, signals that the country is more integrated into the global supply chain, especially since the pandemic (Figure 3). However, the burgeoning Turkish imports from East Asian intermediate goods also highlights the Turkish reliance on East Asian second-and third-tier suppliers to a certain degree.

turkey_exports_eu_uk_us

Figure 3 - OECD End-Use Data

  • Diversified Sources of FDI

The strategic significance of Turkey has also attracted growing and more diverse foreign investment (Figure 4). In 2021, FDI[2] to Turkey had reached its highest levels since 2016, with a noticeable share from East Asia and North America, with many perceiving Turkey as a nearshoring option to serve the European market.

turkey_fdi_region

Figure 4 - Central Bank of the Republic of Turkey

Among East Asian investors, Japan and South Korea are the two largest sources of FDI to Turkey. Chinese investment in the Turkish manufacturing sector is relatively small and was concentrated in the mobile phone manufacturing industry in 2021. In line with the spike in Turkey-US trade was a ten-year high in US FDI in Turkey in 2021. There are also joint investments between Asia and North America in Turkey. For instance, Ford in collaboration with South Korean energy company SK Innovation and Turkish company Koc Holding, plans to build its largest EV battery manufacturing site in Turkey for the European market, aiming for mass production in 2025.

turkey_fdi_manufacturing_transport

Figure 5 - Data Source : Central Bank of the Republic of Turkey

As for industry, the lion’s share of FDI went to the chemical, automotive, and electronic equipment industries (Figure 6). These are also the key sectors that contributed most to the Turkish trade in intermediate goods with the EU and East Asia, which points to a bright future ahead thanks to Turkey’s position that connects the two regions. Furthermore, numerous investment projects in 2021 in the Turkish packaging industry may be another indicator of investors’ confidence in Turkey’s export potential. Indeed, according to the Turkish Ministry of Trade, the need for packaging for export activities is one of the drivers of this industry.

turkey_fdi_manufacturing_sectors

Figure 6 - Data Source: Central Bank of the Republic of Turkey

Turkey’s Logistics Ambitions

Although the FDI to the Turkish transport service sector has fluctuated over the years (Figure 5), the global supply chain reconfiguration and the desire to seek alternative multi-modal freight routes to the trans-Siberian railway connection could attract new investment in the Turkish logistics sector. Its strategic location has already generated significant progress in the transport industry. For instance, Turkish Airlines saw a 46% increase in its cargo revenue and 26% in air cargo volume in 2021. In just five years, from 2016 to 2020, the company has risen from 20th to 8th place in the world in the IATA ranking of airlines for cargo activity.

This situation will be further reinforced by Turkey’s active pursuit of becoming a logistics superpower by 2053. In April 2022, the Turkish government published its 30-Year Transport and Logistics Master Plan to elevate the logistics infrastructure across all transportation modes (Table 1). Under this plan, Turkey plans to invest 153 billion USD by 2053 to support the massive advances in infrastructure.

turkey_infrastructuure_target

Table 1 - Targets set by the Transport and Logistics Master Plan

Here we elaborate on the future of rail freight as Turkey is a key player in developing the trans-Caspian rail connection (Middle Corridor). Due to the Russia-Ukraine war, the Middle Corridor generates a rising market interest as an alternative to the largely disrupted Asia-Europe rail freight via the trans-Siberian railway. The shipping volume via the Middle Corridor in the first quarter of 2022 reportedly had a year-on-year increase of 30%, reaching 19,500 TEUs.

  • Critical Middle Corridor Player

Turkey had already actively engaged in developing the Middle Corridor prior to the war and aimed to attract 30% of rail freight between Asia and Europe to this route.

However, the current preferred option to connect China and Germany via the middle corridor is through the connection via Poti (Georgia) and Constanta (Romania), rather than via Turkey. An analysis we published earlier suggests that the capability to attract German flow is critical for a route’s success, as Germany is the largest destination for Asia-Europe rail freight. While shippers can choose to go from Poti to Germany either via Constanta or via Istanbul, it is clear that the latter mainly serves the Turkish domestic market, at least for the time being.

New rail freight options are more likely to emerge when demand starts to pick up. Furthermore, Turkey's more integrated position in linking Asia and Europe in the global supply chain may also lure shippers into choosing a connection via Turkey. In particular, the manufacturing industries with a growing FDI in Turkey, such as automotive parts and machinery components, are also the commodities that comprised most of the rail freight shipping flows between Asia and Europe prior to the war.

Undoubtedly, the market for transport services between Turkey and Europe is quite dynamic. For instance, there is a newly launched intermodal service to connect Istanbul with France and the UK, it especially targets shippers of textile and automotive parts. Furthermore, infrastructure improvement projects in Turkey allow a better connection with the Trans-European transport network (TEN-T).

Structurally, the long-term projection of the Middle Corridor relies on an improvement of infrastructure and a more coordinated multi-lateral collaboration, such as facilitated customs procedures (Figure 7). The Middle Corridor currently only holds a limited shipping capacity. The envisioned traffic of 50,000 TEUs via the Middle Corridor in 2022 would only account for around 8% of the volume between China and Europe via the trans-Siberian railway in 2021[3]. Furthermore, political instability and red tape are persistent factors that may deter shippers from using this option. The in-plan joint venture between Turkey, Georgia, Azerbaijan, and Kazakhstan in 2023 to develop a middle corridor aimed at smoothing the process may help.

Finally, it will take time to regain market confidence. The Asia-Europe rail freight connection has lost its primary customers, as several automotive companies have decided to withdraw from this service. On a positive note, however, the development of multimodal routes with Europe benefits from an incentive policy on the part of China, which will sustain the operation even in difficult times.

turkey_logistics_infrastructure_middle_corridor

Figure 7 - Data Source: World Bank[4]

Is Turkey a Competitive Alternative?

Turkey is not the only country hoping to seize the opportunity presented by the global supply chain reconfiguration. Is it therefore a competitive alternative? In comparison with other options, such as India and Vietnam, Turkey holds advantages in terms of its technological know-how combined with relatively good logistics performance, though the relative importance of the latter is eroding (Figures 8&9).

turkey_export_complexity_ranking

Figure 8 - Data Source: The Atlas of Economic Complexity, Harvard University

turkey_overall_logistics_performance

Figure 9 - Data Source: World Bank

However, the currency crisis coupled with geopolitical tension undermines the attractiveness of Turkey. The complex global value chain has generated new dynamics in the relation between currency and trade performance. The depreciation of the Turkish Lira, therefore, increases Turkey's cost of importing energy and raw material, which is already soaring following the geopolitical crisis. Turkey is heavily dependent on the external supply of raw material and energy, and this undermines the benefit of currency depreciation for exports. Furthermore, the heavy inflation amid the currency crisis could lead to the loss of skilled labour, a crucial factor in attracting foreign investment.

When considering Turkey’s position in the global context, it seems that it may face some disadvantages in certain aspects.

  • In comparison with Asian alternatives, the more integrated intra-Asia supply chain could make diversification within Asia a more attractive option. This could be particularly the case for industries with a more complex supply chain.
  • Compared with India, Turkey may hold less political leverage, though both are seeking a balance between Russia and the West, and both are marketing themselves as optimal links between Asia and Europe. In recent years, the Indo-Pacific region has carried growing strategic weight, notwithstanding the current geopolitical turbulence. The political significance of India can therefore transform into economic advantages through multilateral economic institutional arrangements, such as the Indo-Pacific Economic Framework, proposed by the Biden Administration.

[1] In this paper, data for East Asia includes China (PRC), ASEAN, South Korea, Japan, and Taiwan.

[2] The data in Figures 4,5, & 6 refer to the value and share of countries and industries in the amount of foreign equity capital inflow (7.6 billion USD) to Turkish companies. The equity capital inflow comprises part of the total annual 14 billion FDI net inflow in 2021, a figure issued by the Republic of Turkey Investment Office. The Central Bank only offers the detailed data by sector/country for the equity capital inflow.

[3] The data is generated from ERAI 1520, which indicates that the annual rail freight between China and the EU via trans-Siberian railway was 618,180 TEUs in 2021.

[4] There is no recent data for Azerbaijan.

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Nov
15
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One Belt, One Road

You’ve probably heard of the Silk Road, the ancient trade route that once ran between China and the West during the days of the Roman Empire. It’s how oriental silk first made it to Europe. It’s also the reason China is no stranger to carrots.

And now it’s being resurrected. Announced in 2013 by President Xi Jinping, a brand new double trade corridor is set to reopen channels between China and its neighbours in the west: most notably Central Asia, the Middle East and Europe.

According to the Belt and Road Action Plan released in 2015, the initiative will encompass land routes (the “Belt”) and maritime routes (the “Road”) with the goal of improving trade relationships in the region primarily through infrastructure investments.

Image: Lowy Institute

The aim of the $900 billion scheme, as China explained recently, is to kindle a “new era of globalization”, a golden age of commerce that will benefit all. Beijing says it will ultimately lend as much as $8 trillion for infrastructure in 68 countries. That adds up to as much as 65% of the global population and a third of global GDP, according to the global consultancy McKinsey.

But reviews from the rest of the world have been mixed, with several countries expressing suspicion about China’s true geopolitical intentions, even while others attended a summit in Beijing earlier this month to praise the scale and scope of the project.

The project has proved vast, expensive and controversial. Four years after it was first unveiled, the question remains:

Why is China doing it?

One strong incentive is that Trans-Eurasian trade infrastructure could bolster poorer countries to the south of China, as well as boost global trade. Domestic regions are also expected to benefit – especially the less-developed border regions in the west of the country, such as Xinjiang.

The economic benefits, both domestically and abroad, are many, but perhaps the most obvious is that trading with new markets could go a long way towards keeping China’s national economy buoyant.

Among domestic markets set to gain from future trade are Chinese companies – such as those in transport and telecoms – which now look poised to grow into global brands.

Chinese manufacturing also stands to gain. The country’s vast industrial overcapacity – mainly in the creation of steel and heavy equipment – could find lucrative outlets along the New Silk Road, and this could allow Chinese manufacturing to swing towards higher-end industrial goods.

A new global superpower

Some Western diplomats have been wary in their response to the proposed trade corridor, seeing it as a land grab designed to promote China's influence globally, but there’s little evidence to suggest the route will benefit China alone.

The scheme is essentially a “domestic policy with geostrategic consequences, rather than a foreign policy,” Charles Parton, a former EU diplomat in China, told the Financial Times.

There's no doubt that China is growing into a geopolitical heavyweight, stepping into the breach left by the United States on matters of free trade and climate change.

"As some Western countries move backwards by erecting 'walls', China is contriving to build bridges, both literal and metaphorical," ran a recent commentary by Xinhua, a Chinese state-run media agency.

Bridges are key to China's strategy, says Kevin Liu, Chairman of Asia, Partners Group.

He explains: "The superpower status the US has achieved is to a great extent grounded on the security blanket it offered to its allies. Geopolitically, China decided a long time ago that security was too expensive an offer to make. Instead, this new superpower may offer connectivity."

If combined with enhanced global connectivity, China's enormous gravity could become an even more meaningful engine for the global economy," Liu adds.

Which countries stand to gain?

Sixty-two countries could see investments of up to US$500 billion over the next five years, according to Credit Suisse, with most of that channelled to India, Russia, Indonesia, Iran, Egypt, the Philippines and Pakistan.

Chinese companies are already behind several energy projects, including oil and gas pipelines between China and Russia, Kazakhstan and Myanmar. Roads and infrastructure projects are also underway in Ethiopia, Kenya, Laos and Thailand.

Pakistan is one of the New Silk Road’s foremost supporters. Prime Minister Nawaz Sharif said the trade route marked the “dawn of a truly new era of synergetic intercontinental cooperation”. Unsurprising praise perhaps from a country that stands at one end of the China-Pakistan Economic Corridor, where it is poised to benefit from $46 billion in new roads, bridges, wind farms and other China-backed infrastructure projects.

Support has come from further afield as well, with Chile’s president, Michelle Bachelet, predicting the route would “pave the way for a more inclusive, equal, just, prosperous and peaceful society with development for all”.

Who’s against it?

Perhaps the route’s most vocal critic so far has been India’s Prime Minister Narendra Modi. Vehemently opposed to the $46 billion China-Pakistan Economic Corridor, which runs through a part of Kashmir claimed by India, he has called the route a “colonial enterprise” that threatens to strew “debt and broken communities in its wake”. He even boycotted the recent One Belt One Road summit in Beijing.

Modi wasn’t the only leader notably absent from the gathering. No officials from Japan, South Korea or North Korea made an appearance, and of the Group of Seven (G7) industrialized nations, the only representative to attend was Italian Prime Minister Paolo Gentiloni.

“While countries welcome Beijing's generosity, they are simultaneously wary of its largesse. China's growing influence is a concern for nations whose political interests do not always align with Beijing's," explains Paul Haenle, director of the Carnegie-Tsinghua Centre for Global Policy.

While China’s growing influence is a concern for nations whose political interests aren’t aligned with Beijing’s, Chinese spokespeople have repeatedly denied charges of a play for global dominance.

The New Silk Road is “not and will never be neocolonialism by stealth”, China announced recently in state media.

Who’ll foot the bill?

The One Belt One Road project already has $1 trillion of projects underway, including major infrastructure works in Africa and Central Asia.

Ahead of the Beijing summit earlier this month, the China Development Bank had set aside almost $900 billion alone for more than 900 projects. China’s Big Four state-owned banks extended an estimated $90 billion in loans to the economies related to the initiative last year alone.

The Asian Infrastructure Investment Bank, which was launched in January 2016, has authorized capital of $100 billion. $20 billion will be paid-in capital from 80 shareholders, of which China is the largest with a 28% share.

Despite this largesse, though, the AIIB has provided less than $2 billion in funding over the past year. The bank’s president, Jin Liquin, told the World Economic Forum summit in China last year: "We will support the One Belt, One Road project. But before we spend shareholders' money, which is really the taxpayers' money, we have three requirements."

What were these? The new trade route would have to promote growth, be socially acceptable and abide by environmental laws, Jin said. How well the project fares against these three criteria has yet to be seen.

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May
02
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Gusts of Wings for Life World Run 2019

On May 5th, 2019 the Wings for Life World Run will once again take place in Kakheti, Georgia. Register for this unique and inspiring event is open and lasts till 02.05.2019, 15:00. We are a part of a life-changing, global movement!

100% of our entry fee goes directly towards spinal cord injury research. Runners, walkers and wheelchair participants are all welcome. There’s no set distance to cover, no time limits and no finishing line. It’s just you vs the Catcher Car, a moving finishing line chasing down participants on the course!

We are happy that we take our part in this global movement!

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