China's BRI could increase global trade by 12%, halve trading costs: ING

Nations in central Asia and eastern Europe could benefit the most -- an estimated 35 per cent to 45 per cent growth in trade.

China’s Belt and Road campaign could increase global trade by as much as 12 per cent by halving trading costs for countries involved in the sprawling initiative, according to an economist at ING Groep NV.

The BRI will have a significant impact on transport and trade facilitation expenses, both of which are large factors in final trading costs, Joanna Konings, senior economist for international trade analysis with ING in Holland, said in a June 6 report.

"Trade between Asia and Europe, not including trade between EU countries, accounts for 28 per cent of world trade, so making those trade flows easier has