Willing to turn OBOR into path for peace: Xi Jinping
The event was attended by high-level leaders from 29 nations, the United Nations Secretary General, the President of the World Bank (WB), the Director General of the International Monetary Fund (IMF).
Meanwhile, New Zealand is already on board with One Belt One Road and the country’s Innovation Minister Paul Goldsmith is attending.
“We see much merit in the (initiative), we see opportunities for collaboration”, he said, adding there was huge scope for Australian industries to get involved.
The chief minister said the Silk Road was not only meant for merchandise and other commodities trade but would also transmit knowledge, ideas and help bring different cultures closer.
To provide more funding for his pet initiative, Xi stated that China will also encourage financial institutions to expand their overseas yuan fund businesses to the tune of to 300 billion yuan (about USA $44 billion).
For his part, Turkish President Erdogan said Belt and Road was “going to be the kind of initiative that will put an end to terrorism”.
“This initiative, especially against the rising terrorism in the world, will be an initiative that will nearly eradicate terrorism”.
China plans to import $2 trillion in products over the next five years from the participating countries, Commerce Minister Zhong Shan revealed at the summit.
“Such a broad sweep and scale of interlocking economic partnerships and investments is unprecedented in history”.
Mr Xi said that China had “no desire to impose our will on others” but instead stood ready to foster development by putting up extra funding for Belt and Road projects.
India skipped the meeting due to its sovereignty concerns over the Dollars 50 billion China-Pakistan Economic Corridor (CPEC), which goes through Pakistan-occupied Kashmir (PoK).
Some Western diplomats have expressed unease about both the summit and the plan as a whole, seeing it as an attempt to promote Chinese influence globally. They are also concerned about transparency and access for foreign firms to the scheme.
Shahbaz said the revival of New Silk Roads, which was at the heart of OBOR, ushers a new era of hope, and a break of a new dawn.
The US is reportedly not impressed, believing it sends the wrong message to Pyongyang amid global anxiety over the rogue state’s nuclear and missile testing program.
India’s refusal to join China’s high-profile Belt and Road initiative is “regrettable” but New Delhi’s boycott will not at all affect the cooperation in infrastructure development among its neighbouring countries, a report in a state-run newspaper said on Monday.
To sustain the projects, Belt and Road nations should allow companies to play a key role, as government resources are limited, Zhou said.
The new guidelines are also aimed at broadening financing channels by encouraging the participation of private capital and investors, while pushing innovation and strengthening regulatory cooperation among governments, according to the Ministry of Finance. “We sincerely appreciate your commitment and leadership for the realisation of CPEC projects”, he said during a meeting with President Xi on the sidelines of the BRF.
China’s Belt and Road Initiative will continue to grow and become a true world land bridge, Helga Zepp-LaRouche, president of the Schiller Institute think tank, has told Xinhua.
Sri Lanka’s Prime Minister Ranil Wickremesinghe today met with several world leaders on the sidelines of China’s Belt and Road Forum for International Cooperation and held bilateral discussions.