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China's BRI dominates Euro-Asian Economic Forum 2019
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SME Times News Bureau | 10 Sep, 2019
The inaugural day of the seventh edition of the Euro-Asian Economic
Forum was dominated by talks on China's Belt and Road Initiative (BRI).
The
Belt and Road Initiative is a mega project taken up by China through
which it aims to revive the old 'Silk Route' connecting several
countries in Asia and Europe.
Delegates from several countries in
the region attended the inaugural session, including Pakistan. However,
no Indian delegate was present.
Although China has been
insistent on India joining the BRI, India has been averse to the idea
over concerns of growing prowess of its northern neighbour.
Speaking
at the inaugural ceremony, Secretary General of the Shanghai
Cooperation Organization (SCO), V.I. Norov said: "The comprehensive
interaction within the framework of the large-scale initiative of the
President of China Xi Jinping, 'One Belt, One Road', is called upon to
unite the efforts of the states of the continents in ensuring stable and
sustainable development.
"I think the joint construction of
multi-modal transport and logistics centers and the formation of a
network of industrial clusters along the transport arteries of the SCO
member states within the framework of the BRI will expand the economic
opportunities of the region and give a significant impetus to other
related areas of interaction," he added.
Other speakers,
including from Moldova and Pakistan, also stressed the BRI and its
benefits for the economic growth of the countries involved. China is
also building the China-Pakistan Economic Corridor under the initiative.
Although
China and the Pakistan government promise of prosperity once the the
corridor is completed, there are concerns in some quarters in Pakistan
over the country's indebtedness towards China.
Fu Ying, the
Director of Tsinghua University, Centre for Strategic and Security
Studies said that China is a large consumer of energy and oil and gas
reserves of Eurasian countries can be "helpful for both sides".
She also noted that China can help the countries on the industrial and mechanical side, as it has expertise on that front.
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