China to hold next Belt and Road forum in 2019
China’s national news agency Xinhua reported the initiative was first envisioned by Chinese President Xi Jinping in 2013 to create a new platform for global cooperation.
The Belt and Road Initiative (BRI), which China hopes would become the flagship for a new wave of globalisation, can help establish a triangular partnership among Beijing, New Delhi and Islamabad, says a leading Chinese researcher. “What kind of a positive attitude the spokesman wants China to have?” In addition, China will provide 60 billion yuan in the next three years for poverty alleviation in developing countries along the new Silk Road.
A road to “peace and prosperity” could be reached if all involved made joint efforts, although the undertaking still had a long way to go, Xi told journalists in Beijing, at the end of the two-day summit. India was the only big South Asian nation to boycott the event, citing its reservations on the $55-billion China Pakistan Economic Corridor, a flagship project of the OBOR initiative that runs through Gilgit-Baltistan in Pakistan-occupied Kashmir.
Some 1,500 people from more than 100 countries gathered here Sunday and Monday for the Belt and Road Forum for International Cooperation. “We will always welcome the participation from the Indian side”, she added.
The OBOR forum communiqué said members remain “determined to protect the planet from degradation, including through taking urgent action on climate change”.
“Our attitude is always clear”.
The Belt and Road summit came as official government data showed signs of a slowdown in growth in China’s giant industrial economy. The report further says that European Union members refused to endorse part of the multibillion-dollar plan as it did not include commitments to social and environmental sustainability and transparency. “While India cares about its neighbours’ debt burden, the neighbours appear willing to take on more”, said a report by China’s state-run Global Times. We keep saying that the Belt and Road is an open and inclusive initiative.
Chinese President Xi Jinping used the forum to pledge an extra $122bn for worldwide infrastructure schemes.
Skirting any references to India’s absence at the meeting, Xi had said, “All countries should respect each other’s sovereignty, dignity and territorial integrity, each other’s development paths and social systems, and each other’s cores interests and major concerns”.
PM Nawaz said, “As an old friend, it is a matter of huge pleasure for him, government and the people of Pakistan to witness the success of this event as well as the transformational potential of OBOR for the peace, progress and prosperity of the people of the world”.
“We should build an open platform of cooperation and uphold and grow an open world economy”, Xi said in his opening address outlining China’s vision.
Meanwhile, China signed cooperation deals with 68 countries and worldwide organisations during the forum, The Straits Times reported.
“The Belt and Road initiative is one of the mechanisms for infrastructural development”.