Five things to watch as China's belt and road plan unfolds

Remigio Civitarese
Mag 20, 2017

Japan may join hands with India in the expansion of Iran's Chabahar port.

"The European Investment Bank, the EU Bank, recognises the potential of the Belt and Road Initiative to promote economic growth and strengthen global cooperation", said EIB director-general Jean-Christophe Laloux.

Mining major Rio Tinto (LN:RIO) sees an opportunity in China's large-scale "Belt and Road Initiative" that was launched with great fanfare on the weekend. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

DIPLOMATS have voiced concern over China's ambitious "new Silk Road" plan, particularly over the transparency of the multi-billion dollar project, or apparent lack thereof.

"We are pioneers in mining and metals, and produce materials essential to human progress which are also needed for the roll-out of the Belt and Road through infrastructure". "We appreciate the tremendous efforts of all involved and recognise the clear the leadership that China has shown to develop this key initiative".

They expressed willingness to enhance cooperation with China to jointly promote the Belt and Road Initiative and realize the 2030 Sustainable Development Goals.

The Belt and Road Initiative is highly aligned with the United Nations 2030 Agenda for Sustainable Development, and the new agreements will help Belt and Road countries realize the 2030 Sustainable Development Goals, said Yu. The China-Pakistan Economic Corridor, as an important part of the Belt and Road, is not directed at any third parties, not relevant to disputes over territorial sovereignty and does not affect China's position on the Kashmir issue.

India would have joined "very happily" in the One Belt and One Road (OBOR) initiative of China, said Sarath Amanugama, Sri Lanka's Minister on Special Assignment. Another setback was the decision by several European countries, including France, Germany and Britain, not to sign a trade statement at the summit.

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