World News

China says 68 countries, global organizations have signed OBOR pacts

China says 68 countries, global organizations have signed OBOR pacts

No Indian official of any level was present at the elaborate opening ceremony attended by 29 heads of state and government along with top officials of the world bodies like the United Nations, the World Bank and the International Monetary Fund.

The two-day meeting, the major event on the Belt and Road Initiative Forum since Xi proposed it first in 2013, is also considered the largest and highest-level worldwide meeting held in China.

Earlier, amid an Indian boycott of "One Belt, One Road" (OBOR) summit that began at Beijing on Sunday, Chinese President Xi Jinping said that all countries should respect each other's "sovereignty and territorial integrity".

Xi announced that China will contribute an additional 100 billion yuan (about $14.5 billion) to the $40 billion Silk Road Fund to scale up financial support for the Belt and Road Initiative.

Discussions focused on China's New Silk Road trade project - an initiative to create new trading routes across parts of the developing world.

"The global community, especially those participants showed a very response to the forum.In his speech, President Xi Jinping said the BRI will be built as a peace road and countries should respect the sovereignty and integrity and core interests (of other nations)", she said.

The speech built on an image of Xi as a champion of global free trade that he has sought to hone since US President Donald Trump's election, most notably in a January speech in Davos, Switzerland.

Xi said the Belt and Road Initiative has "no political agenda" and was meant to be an "open and inclusive platform for development".

Speaking in the second session of the roundtable on Connectivity Cooperation for Interconnected Development, the Prime Minister said Pakistan is pursuing vision of a peaceful, inter-connected and prosperous neighbourhood with great determination.

According to Xi, it was necessary to coordinate policies with the development goals of institutions including the Asia-Pacific Economic Cooperation (APEC), ASEAN, African Union and the European Union.

China on Tuesday took strong exception to India's stand on its Belt and Road initiative and asked New Delhi to explain what kind of "meaningful dialogue" it wants with Beijing on the multibillion-dollar venture.

"In a world of growing interdependency and challenges, no country can tackle the challenges, also the world's problems, on its own", Xi said.

The premier also proposed enhancing defence and law-enforcement cooperation and strengthening exchanges in areas including education, tourism, protection of historical relics, medicine and health.


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