2017 International Conference: Belt & Road Forum - CPEC - Watch thread for updates

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PM, chief ministers travel to China to attend Belt and Road Forum
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vast trade network, a spokesman said Friday.

The Prime Minister's Office said in a statement that the premier leaves for China later Friday at the invitation of the President Xi Jinping to attend the event which is part of “Silk Road Economic Belt and the 21st Century Maritime Silk Road” initiative, which was launched by Xi in 2013.

Sharif will be accompanied on the visit by a high-level delegation and chief ministers of the four provinces, the statement said.

The Belt and Road Forum for International Cooperation opens Sunday and will be attended by 27 countries.

During the summit, Sharif will address a high-level dialogue and the 'leaders' roundtable', the PM Office said.

Besides attending the forum, the prime minister will hold bilateral meetings with President Jinping and Premier Li Keqiang.

"A number of agreements/ MoUs related to CPEC projects are also expected to be signed on the occasion," the statement said.

Sharif will also hold bilateral meetings with several other heads of state on the sidelines of the forum. He will also visit Hangzhou and Hong Kong where he will interact with business leaders and attend investment conferences.

Xi has championed what China formally calls the “One Belt, One Road” or OBOR initiative to build a new Silk Road linking Asia, Africa and Europe, a landmark programme to invest billions of dollars in infrastructure projects including railways, ports and power grids.

China has dedicated $40 billion to a Silk Road Fund and the idea was the driving force behind the establishment of the $50 billion China-backed Asian Infrastructure Investment Bank (AIIB).

Global friend
While China has portrayed the New Silk Road as a genuine effort to share the bounty of China's economic development and to fund infrastructure gaps, many Western countries are concerned about a lack of detail and transparency in the project and are suspicious about China's broader political intents.

Diplomatic sources said the presence of Putin and other leaders from countries with dubious human rights records, like the Philippines and Central Asian states, had contributed to a reluctance among Western leaders to attend.

“What Western leader wants to sit on the same stage as Putin?” said one senior Beijing-based Western diplomat who is familiar with the planning for the summit, speaking on condition of anonymity.

Still, at a time of uncertainty about the US place in the world following President Donald Trump's pledges to put America first, China sees an opportunity to become more of a global leader and has found a receptive audience for its New Silk Road.

Leaders from countries that would appear to have little, if any, connection to the plan are coming to the summit, including Chile and Argentina.

“Everyone wants to be China's friend now with Trump in office,” said a senior Asian diplomat in Beijing. While China says the New Silk Road is not political, it has run into opposition from India due to a section of it in Pakistan, known as the China-Pakistan Economic Corridor, where some projects run through the disputed Kashmir region.

China has dismissed those concerns, saying CPEC had nothing to do with the dispute and India was welcome to participate in the New Silk Road.

 

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China is about to hold a giant meeting on spending billions to reshape the world
Sophia Yan

Wed, 10 May '17 | 2:35 AM ETCNBC.com
PLAY VIDEO

China has rapidly climbed the ranks to become the world's second-largest economy. Now, the most populous nation on the planet wants to increase its influence by digging further into its pockets — flush with cash after decades of rapid growth — to splash out with its "One Belt, One Road" policy.

The initiative is meant to connect Asia, Europe, the Middle East and Africa to bolster trade and development. This weekend, hordes of foreign diplomats and business leaders are expected to descend on Beijing for a two-day meeting about the policy.

Here's what you need to know:


What is "One Belt, One Road?"
President Xi Jinping first announced the policy in 2013; it was later named one of China's three major national strategies, and morphed into an entire chapter in the current five-year plan, to run through 2020.

The plan aims to connect Asia, Europe, the Middle East and Africa with a vast logistics and transport network, using roads, ports, railway tracks, pipelines, airports, transnational electric grids and even fiber optic lines. The scheme involves 65 countries, which together account for one-third of global GDP and 60 percent of the world's population, or 4.5 billion people, according to Oxford Economics.

CNBC

Why does China want to do this?
This is part of China's push to increase global clout — building modern infrastructure can attract more investment and trade along the "One Belt, One Road" route. It could be beneficial for western China, which is less developed, as it links up with neighboring countries. And in the long run, it will help China shore up access to energy resources.

The policy could boost the domestic economy with demand abroad, and might also soak up some of the overcapacity in China's heavy industry, but analysts say these are fringe benefits.

Experts say China has an opportunity to step into a global leadership role, one that the U.S. previously filled and may now be abandoning, especially after President Donald Trump pulled out of a major trade deal, the Trans-Pacific Partnership.

It's clear China wants to wield greater influence — Xi's speech in January at the World Economic Forum in Davos touted the benefits of globalization, and called for international cooperation. And an article by Premier Li Keqiang published shortly after also called for economic openness.

But despite all the talk of global connectivity, skeptics highlight that China still restricts foreign investment, censorship continues to be an issue and concerns remain over human rights.

How much is China spending?
Most of the funding is coming via China's policy and commercial banks, though there is no official data on OBOR projects and spending estimates vary.

In 2015, the China Development Bank said it had reserved $890 billion for more than 900 projects. The Export-Import Bank of China announced early last year that it had started financing over 1,000 projects. The China-led Asian Infrastructure Investment Bank is also providing financing.

Zhang Peng | LightRocket | Getty Images
An Uygur man pulls a fruit cart in Urumqi, Xinjiang Uygur Autonomous Region in China.
China's big four state-owned banks are estimated to have extended $90 billion in loans to OBOR countries in 2016, according to analysis by Oxford Economics. And Credit Suisse estimates China could invest as much as $500 billion in about 60 countries over the next five years.

The assumption is that these countries will be able to pay China back, and that lenders will know how to manage credit risk. This means the obvious challenge is that if these projects fail to deliver as expected, bad debts could create a strain. But the leaks may not spring for a while, as infrastructure projects tend to have a long lead time.

What OBOR projects have already launched?
Plenty have launched thus far, including a 418-kilometer rail link with Laos, and a collection of infrastructure projects totaling $46 billion, named the China-Pakistan Economic Corridor. A freight train service is linking China and Europe. And China and France are jointly developing the $24 billion Hinkley Point nuclear power plant in the U.K.

In reality, however, reports abound of delays and confusion. There are worries over due diligence — making sure the money is being well-spent — which is tough to track in other countries and remains a potent domestic challenge despite China's anti-corruption crackdown.

PLAY VIDEO


Wait, wasn't China already heavily investing abroad?
China's state-owned enterprises and private companies have long invested abroad. In some ways, experts at research firm IHS say the OBOR initiative is simply smart branding for what China was already doing. At the same time, this is Beijing using its political might — China announcing with a bullhorn its support for investment abroad could help grease the wheels to get deals and contracts through faster.

Who benefits?
Much of the projects heavily involve China's state-owned enterprises, from oil & gas companies to railway construction — think oil firm Sinopec, rail car manufacturer CRRC and utilities like State Grid. Analysts say foreign construction machinery companies are also poised to benefit.

Other major foreign companies including General Electric and Siemens have made clear they're targeting participation in OBOR projects.

In the long run, "OBOR could boost internationalization of the renminbi by encouraging its use in both trade and financial transactions," wrote Tianjie He of Oxford Economics.

PM, chief ministers travel to China to attend Belt and Road Forum
AP | DAWN.COMUPDATED ABOUT 4 HOURS AGO
WHATSAPP
vast trade network, a spokesman said Friday.

The Prime Minister's Office said in a statement that the premier leaves for China later Friday at the invitation of the President Xi Jinping to attend the event which is part of “Silk Road Economic Belt and the 21st Century Maritime Silk Road” initiative, which was launched by Xi in 2013.

Sharif will be accompanied on the visit by a high-level delegation and chief ministers of the four provinces, the statement said.

The Belt and Road Forum for International Cooperation opens Sunday and will be attended by 27 countries.

During the summit, Sharif will address a high-level dialogue and the 'leaders' roundtable', the PM Office said.

Besides attending the forum, the prime minister will hold bilateral meetings with President Jinping and Premier Li Keqiang.

"A number of agreements/ MoUs related to CPEC projects are also expected to be signed on the occasion," the statement said.

Sharif will also hold bilateral meetings with several other heads of state on the sidelines of the forum. He will also visit Hangzhou and Hong Kong where he will interact with business leaders and attend investment conferences.

Xi has championed what China formally calls the “One Belt, One Road” or OBOR initiative to build a new Silk Road linking Asia, Africa and Europe, a landmark programme to invest billions of dollars in infrastructure projects including railways, ports and power grids.

China has dedicated $40 billion to a Silk Road Fund and the idea was the driving force behind the establishment of the $50 billion China-backed Asian Infrastructure Investment Bank (AIIB).

Global friend
While China has portrayed the New Silk Road as a genuine effort to share the bounty of China's economic development and to fund infrastructure gaps, many Western countries are concerned about a lack of detail and transparency in the project and are suspicious about China's broader political intents.

Diplomatic sources said the presence of Putin and other leaders from countries with dubious human rights records, like the Philippines and Central Asian states, had contributed to a reluctance among Western leaders to attend.

“What Western leader wants to sit on the same stage as Putin?” said one senior Beijing-based Western diplomat who is familiar with the planning for the summit, speaking on condition of anonymity.

Still, at a time of uncertainty about the US place in the world following President Donald Trump's pledges to put America first, China sees an opportunity to become more of a global leader and has found a receptive audience for its New Silk Road.

Leaders from countries that would appear to have little, if any, connection to the plan are coming to the summit, including Chile and Argentina.

“Everyone wants to be China's friend now with Trump in office,” said a senior Asian diplomat in Beijing. While China says the New Silk Road is not political, it has run into opposition from India due to a section of it in Pakistan, known as the China-Pakistan Economic Corridor, where some projects run through the disputed Kashmir region.

China has dismissed those concerns, saying CPEC had nothing to do with the dispute and India was welcome to participate in the New Silk Road.

Pak delegation arrives for conference:

Greeks arrive

Turks arrive:

 

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The vision of a great leader:

 

[ito]

Good luck to Chinese...yes China is only few countries that has money to take over such a grand project.

 

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[AUz]

70% of OBOR global trade network will run through Islamic world.

Pakistan, Central Asia, Turkey, Egypt, sea route passing through Indian Ocean and Malacca straits.

It's a great opportunity for Muslim world to increase their levels of industrialization, maximize production and trade activities within itself and wider world.

Muslim world + China = Global WIN for humanity.

OIC should play active role in the upcoming era of opportunities. Increased revenues that'll be coming to Muslim world should be put in education, health, infrastructure, expansion of technological base, and capability building. With favorable demographics, Muslim countries can really exploit the potential of next era of global wealth creation

 

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Ambition to meet reality as China gathers world for Silk Road summit
REUTERSUPDATED A DAY AGO
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the government has set up a new army division to protect the $57bn China-Pakistan Economic Corridor, a key part of the new Silk Road.

Explore: How China connects

The corridor also runs through disputed Kashmir, meaning India has rebuffed China's attempts to get it onto the Belt and Road.

"We have some serious reservations about it because of sovereignty issues," Indian Finance Minister Arun Jaitley said in Japan last week.

With China saying the Belt and Road is open to everyone, at least one country not widely seen as a safe investment choice is expected to show up - diplomatically isolated and nuclear-armed North Korea.

The government of Syria is also sending a Cabinet-level minister, the Syrian ambassador to China told Reuters this week.

Politics before economics?
There has been almost relentlessly upbeat coverage in China ahead of the Belt and Road Forum, including documentaries on state television and smiling citizens in project countries praising the changes it has brought.

During the meeting, more than 50 memorandums of understanding, plans, cooperation letters and cooperation projects in transportation, energy and communications will be signed, Chinese government officials say.

"This ... will be a jointly consultative document by all parties to reflect their shared consensus on advancing the Belt and Road," foreign ministry spokesman Geng Shuang told reporters on Wednesday, referring to the summit communique.

Some Chinese experts say politics are being put ahead of economic factors.

"I believe that the national strategy is the top priority; economic considerations are secondary," said an economist at the China Centre for International Economic Exchanges, a Beijing-based think-tank which made initial proposals to set up the AIIB.

He asked not to be identified, citing the sensitivity of the topic.

There is caution, too, from some Asian countries.

Speaking last week at a meeting of the Asian Development Bank in Japan, Philippine Deputy Central Bank Governor Diwa Guinigundo said it was hard to pre-judge the new Silk Road.

"It is still a vision. You have to translate that into some working parts," Guinigundo said.

Some Western diplomats have expressed concern in private at the high billing at the summit given to countries with poor human rights records, like Russia and the Philippines.

The diplomatic source familiar with the communique discussions said those talks had been tough, as everyone wanted a say. There had been at least three drafting sessions, one of which lasted 13 hours this week.

The original plan was for a host country press statement, but China changed that to a joint communique, the source said.

"The only explanation that one could give is that they want to add weight to this meeting."

 

[Clutch]

Behind the scenes of the One Belt One Road Conference... plz skip to 5 minute mark for the video to begin:

National News
May 13,2017
A rare national harmony on CPEC exhibited

Advertisement

ISLAMABAD: The travel of all the chief ministers to China with Prime Minister Nawaz Sharif, which is a great sight to watch, materialized only after his opposing provincial chief executives fully realized that the China-Pak Economic Corridor (CPEC) is a real game-changer for Pakistan and will equally benefit their areas as well.

The inclusion of the Sindh and Khyber Pakhtunkhwa (KP) chief ministers in the premier’s entourage tremendously reflects the rare national harmony, cohesion and unity on the CPEC and is spectacular news from Pakistan to China, which had been worried over the spurious political bickering and point scoring on these grand projects.

China had to work hard to remove the baseless misgivings and suspicions created about the CPEC for political reasons. More than once, it was compelled to issue clarifications so that everybody’s doubts are dispensed with and it is made clear to all and sundry that the CPEC was for the benefit of whole of Pakistan and not for any specific region. It had disapproved the delay of the Chinese president’s scheduled visit to Pakistan due to the chaos and mayhem generated by the 2014 sit-ins.

The participation of such a high level Pakistani delegation in the Belt and Road Forum for International Cooperation in Beijing is a great honour for Pakistan.

The Belt and Road Forum (BRF) is part of the “Silk Road Economic Belt and the 21st Century Maritime Silk Road” (OBOR) initiative launched by President Xi Jinping in 2013. The Forum is aimed at promoting common development through win-win cooperation.

The CPEC is the flagship project of OBOR. The BRF is being attended by 27 other heads of state and government. It exposes the leadership role that China is playing.

It is known that some influential foreign countries and certain domestic elements are hell-bent upon sabotaging the CPEC, but their efforts have been successfully countered by Pakistan as it has continued its strong determination and resolve to carry out the projects. [Some of those moo par ram ram baghaal may chooree people are found here on PDF - clutch] US National Intelligence Director Daniel Coats can only explain the logic what he has just stated. His remarks amply show the antipathy Washington has against the CPEC.

He has claimed that the emergence of the CPEC in Pakistan would allow terrorist groups more targets for attacks. The emerging CPEC will probably offer militants and terrorists additional targets, he told lawmakers during a Congressional hearing. It is a very strange argument and is like saying that major development projects should not be undertaken for the only reason they will provide targets to terrorists.

At this time when conspiracies are being consistently hatched against the CPEC, the unanimity in the national leadership belonging to different political parties, displayed by them now, was most sought after. These leaders thus proved that they have the guts to rise above their politics for the national cause and progress.

After their previous trips, Sindh Chief Minister Murad Ali Shah and Khyber Pakhtunkhwa (KP) Chief Minister Pervez Khattak changed their mind about the flagship undertaking, the CPEC, of the prime minister and started describing it as a massive development plan that would transform the destiny and fate of Pakistan.

The KP chief minister belonging to the Pakistan Tehreek-e-Insaf (PTI) was forced by his party to waste almost four years in its protests. He understood though very belatedly that the politics of agitation was unproductive and useless and what would really pay him in the next general elections was the CPEC. Then, he started exhibiting interest in this gigantic project and received the expected positive response from China. After that, there is no difference between what he has been saying about the CPEC and what the prime minister has been stating for the past three years. Both are thus on the same page at least on this matter.

The Sindh chief minister hailing from the Pakistan People’s Party (PPP) has also been expressing reservations about the CPEC but in a low key and was never as hard-hitting and destructive as Khattak had been. However, whatever concerns and doubts he had stood removed after he paid a couple of visits to China and got promises of Chinese funding to several projects recommended by him.

Obviously, there was no problem about the CPEC from the previous Balochistan chief minister, Dr Abdul Malik, and the present incumbent, Sanaullah Zehri. Among the provinces Balochistan will benefit from the CPEC much more than any other area because of the Gawadar port. A sprawling network of roads has been completed in this province, which will play a key role in the CPEC.

 

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Pakistan, China ink six accords of cooperation
5

BEIJING: Pakistan and China on Saturday inked six accords of cooperation in diverse fields including Framework Agreement on upgradation of Main Line-1 rail track and establishment of a dry port at Havelian.
Prime Minister Muhammad Nawaz Sharif and Chinese Premier Li Keqiang witnessed the signing ceremony here at the Peoples Great Hall of China.
The Memorandum of Understanding signed between the two countries are as under:

1. – Framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative

2. – Agreement on Economic and Technical Cooperation (1.5 billion RMB for Gwadar Airport etc.)

3. – Framework Agreement on implementation of upgradation of ML-1 and establishment of Havelian Dry Port in Pakistan

4. – MoU on implementation of ML-1 and establishment of Havelian Dry Port in Pakistan

5. – Agreement on Economic and Technical Cooperation (0.8 billion RMB for Gwadar Airport)

6. – Agreement on Economic and Technical Cooperation (1.1 billion RMB for East bay Expressway)

Originally Published by APP

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Discussion forum one the One Belt & Road Conference:

Part 1:

Part 2

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• HEADLINES

Pakistan railways to get up-gradation under CPEC: Saad Rafique
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May 13, 2017
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Minister for Railways Saad Rafique Friday said the flagship One Belt, One Road Forum (OBOR) would help Pakistan improve its connectivity sector, particularly railways. The Railways minister who is accompanying the Prime Minister Muhammad Nawaz Sharif to participate in the OBOR forum termed China Pakistan Economic Corridor (CPEC) as a game changing project to usher in a new era of prosperity in the country.

He said the OBOR vision of Chinese President Xi Jinping was a mega project aimed at developing a strong connectivity in the region, adding that the vision was joined by Prime Minister Nawaz Sharif under the umbrella of CPEC.

Saad Rafique told APP that the railway track from Karachi up to Landikotal, Torkham would be upgraded and the speed of the trains on the route would be doubled from 80 to 160 kilometer per hour besides improvement in the signalling system. He said the travel time by train from Lahore to Karachi would be reduced from 18 to 12 hours and from Lahore to Islamabad would be lessened to two hours.

He said Pakistan and China were expected to sign a new framework for the revival and up-gradation of Main Line-1 (ML-1) from Karachi to Peshawar during the Prime Minister Nawaz Sharif’s current visit to China.

To a question on four chief ministers of Punjab , Sindh, KP and Balochistan travelling along with the prime minister to participate in the OBOR forum, the minister said it was a clear message to international world that all political parties were united on matters of national importance.

“We are visiting China as Pakistanis and not as representatives of political parties,” he said, adding that such unity on national issues was the beauty and splendour of democracy.

Malaysians Arrive

Czech Arrive

 

[RIP Pak LAW]

Even US is sending their delegation for the mega event along with all the regional countries and world powers except India. Lol for India, it's a classic text book isolation.

 

[Kabira]

Behind the scenes of the One Belt One Road Conference... plz skip to 5 minute mark for the video to begin:

National News
May 13,2017
A rare national harmony on CPEC exhibited

Advertisement

ISLAMABAD: The travel of all the chief ministers to China with Prime Minister Nawaz Sharif, which is a great sight to watch, materialized only after his opposing provincial chief executives fully realized that the China-Pak Economic Corridor (CPEC) is a real game-changer for Pakistan and will equally benefit their areas as well.

The inclusion of the Sindh and Khyber Pakhtunkhwa (KP) chief ministers in the premier’s entourage tremendously reflects the rare national harmony, cohesion and unity on the CPEC and is spectacular news from Pakistan to China, which had been worried over the spurious political bickering and point scoring on these grand projects.

China had to work hard to remove the baseless misgivings and suspicions created about the CPEC for political reasons. More than once, it was compelled to issue clarifications so that everybody’s doubts are dispensed with and it is made clear to all and sundry that the CPEC was for the benefit of whole of Pakistan and not for any specific region. It had disapproved the delay of the Chinese president’s scheduled visit to Pakistan due to the chaos and mayhem generated by the 2014 sit-ins.

The participation of such a high level Pakistani delegation in the Belt and Road Forum for International Cooperation in Beijing is a great honour for Pakistan.

The Belt and Road Forum (BRF) is part of the “Silk Road Economic Belt and the 21st Century Maritime Silk Road” (OBOR) initiative launched by President Xi Jinping in 2013. The Forum is aimed at promoting common development through win-win cooperation.

The CPEC is the flagship project of OBOR. The BRF is being attended by 27 other heads of state and government. It exposes the leadership role that China is playing.

It is known that some influential foreign countries and certain domestic elements are hell-bent upon sabotaging the CPEC, but their efforts have been successfully countered by Pakistan as it has continued its strong determination and resolve to carry out the projects. [Some of those moo par ram ram baghaal may chooree people are found here on PDF - clutch] US National Intelligence Director Daniel Coats can only explain the logic what he has just stated. His remarks amply show the antipathy Washington has against the CPEC.

He has claimed that the emergence of the CPEC in Pakistan would allow terrorist groups more targets for attacks. The emerging CPEC will probably offer militants and terrorists additional targets, he told lawmakers during a Congressional hearing. It is a very strange argument and is like saying that major development projects should not be undertaken for the only reason they will provide targets to terrorists.

At this time when conspiracies are being consistently hatched against the CPEC, the unanimity in the national leadership belonging to different political parties, displayed by them now, was most sought after. These leaders thus proved that they have the guts to rise above their politics for the national cause and progress.

After their previous trips, Sindh Chief Minister Murad Ali Shah and Khyber Pakhtunkhwa (KP) Chief Minister Pervez Khattak changed their mind about the flagship undertaking, the CPEC, of the prime minister and started describing it as a massive development plan that would transform the destiny and fate of Pakistan.

The KP chief minister belonging to the Pakistan Tehreek-e-Insaf (PTI) was forced by his party to waste almost four years in its protests. He understood though very belatedly that the politics of agitation was unproductive and useless and what would really pay him in the next general elections was the CPEC. Then, he started exhibiting interest in this gigantic project and received the expected positive response from China. After that, there is no difference between what he has been saying about the CPEC and what the prime minister has been stating for the past three years. Both are thus on the same page at least on this matter.

The Sindh chief minister hailing from the Pakistan People’s Party (PPP) has also been expressing reservations about the CPEC but in a low key and was never as hard-hitting and destructive as Khattak had been. However, whatever concerns and doubts he had stood removed after he paid a couple of visits to China and got promises of Chinese funding to several projects recommended by him.

Obviously, there was no problem about the CPEC from the previous Balochistan chief minister, Dr Abdul Malik, and the present incumbent, Sanaullah Zehri. Among the provinces Balochistan will benefit from the CPEC much more than any other area because of the Gawadar port. A sprawling network of roads has been completed in this province, which will play a key role in the CPEC.

This is important, internal political differences shouldn't come in the way of CPEC.

In China right now

 

[Clutch]

Chinese president Xi calls for boosting CPEC construction
DAWN.COM | REUTERSUPDATED ABOUT 5 HOURS AGO
WHATSAPP
reported.

Xi made the remarks in his meeting with Prime Minister Nawaz Sharif, who along with a high-level delegation is in Beijing to attend the Belt and Road Forum, which is focused on boosting regional development through China's new Silk Road plan.

The Chinese president welcomed Sharif and his delegation upon their arrival at Beijing's Great Hall of the People.

A Radio Pakistan report said President Xi in his meeting with Sharif expressed satisfaction over the pace of bilateral Sino-Pak ties and communicated his resolve to further strengthen the relationship through increased cooperation in various fields.

Pakistan and China have more potential to cement bilateral cooperation regarding implementation of CPEC and other regional connectivity projects, the report quoted Xi as saying.



Prime Minister Nawaz Sharif, who attended the meeting along with the four chief ministers, said Pakistan would support China in the promotion of its 'One Belt, One Road' (OBOR) initiative.

He said CPEC is a core component of OBOR plan, and the Pakistani government is making "strenuous efforts" for speedy implementation of CPEC projects.

Sharif congratulated the Chinese president on hosting the Belt and Road Forum, saying the participation of a large number of world leaders in the summit is a "testimony of China's growing stature in the international community".

Agreements signed
Pakistan and China earlier inked a number of agreements aimed at boosting cooperation in various sectors between the two countries, Radio Pakistan reported.

Pakistani and Chinese officials sign agreements.— PML-N Twitter


The Memorandums of Understanding (MoUs) were signed on the sidelines of the Belt and Road Forum in the presence of Prime Minister Nawaz Sharif and Chinese Premier Li Keqiang. Federal ministers and the chief ministers of Sindh, Punjab, Khyber Pakhunkhwa and Balochistan were also present on the occasion.

According to Radio Pakistan, the agreements signed by Chinese and Pakistani officials on Saturday include:

• An MoU regarding bilateral cooperation within the framework of the Silk Road initiative
• An agreement for the upgradation of the main railway track ML-I
• MoU for the establishment of a dry port in Havelian
• Three agreements concerning economic and technical cooperation worth 3.4 billion yuan for the Gwadar port and East Bay expressway.

PM, Chinese premier meet
Earlier, Sharif held a meeting with the Chinese premier, who welcomed the Pakistani delegation's participation at the forum, a statement issued by the Prime Minister's Office said.

Sharif congratulated Premier Li on the organisation of the summit, saying: "Pakistan fully supports China's vision of the Belt and Road Forum".

"Pakistan considers China its most valuable friend," the prime minister said, adding that the participation by chief ministers of all four Pakistani provinces at the forum is an indication that "we are all one for [the success of] the China-Pakistan Economic Corridor".

He reaffirmed Pakistan's commitment for the completion of early harvest projects under CPEC.

New Silk Road summit
Delegates will hold a series of sessions on Sunday afternoon to discuss the Silk Road plan in more detail, including trade and finance. China has given few details about attendees.

Leaders from 29 countries will attend the forum in Beijing on May 14-15, an event orchestrated to promote Xi's vision of expanding links between Asia, Africa and Europe underpinned by billions of dollars in infrastructure investment.

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.

China has rejected criticism of the plan and the summit, saying the scheme is open to all, is a win-win and aimed only at promoting prosperity.

In an English-language commentary on Saturday, China's state-run Xinhua news agency said the new Silk Road, officially called the Belt and Road initiative, would be a boon for developing countries that had been largely neglected by the West.

“As some Western countries move backwards by erecting 'walls', China is contriving to build bridges, both literal and metaphorical. These bridges are China's important offering to the world, and a key route to improving global governance,” it said.

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SATURDAY, MAY 13, 2017 | SHABAN 17, 1438

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  This week's Belt and Road Forum, taking place in Beijing, is an important milestone in the development of China’s historic effort to transform the economies of the old Silk Road, strengthen links between them and better connect them to the rest of the world. The UAE strongly supports this Belt and Road initiative, which will foster economic growth and security both regionally and globally.
  
  In the four years since president Xi Jinping launched this far-sighted project, there has already been substantial progress.
  
  During this period, China has directly invested more than $50 billion (Dh13tn) and created the Asia Infrastructure Investment Bank, a new multilateral institution designed to finance vital public works throughout Asia’s emerging economies. The UAE is a founding member of the AIIB and committed to its central mission of bringing the Belt and Road vision to life.
  
  China’s approach to economic development mirrors our own. We share the same core beliefs in the essential connection between trade, peace and prosperity. For both our peoples, these beliefs go beyond stated principles to concrete actions, best expressed by the strength of our bilateral trade, which has grown dramatically – almost 800-fold in the three decades since we established formal relations – from $63 million in 1984 to more than $50 billion per annum in 2016.
  
  In fact, our cultural and economic ties with China go back centuries. Records of a pearl and porcelain exchange between the Gulf and China date from the seventh century. Today’s trade spans multiple sectors, but one of the most important is energy, the essential enabler of economic growth along the Belt and Road corridor.
  
  Recognising that energy demand within Belt and Road countries will grow 50 per cent by 2040, both China and the UAE have made strategic co-investments in this sector.
  
  China National Petroleum Company and China Energy recently took a minority share in UAE’s onshore oil reserves, beginning a partnership with the Abu Dhabi National Oil Company that will secure oil supplies for decades and ease market access for essential and higher value products throughout the region.
  
  Adnoc's petrochemical company, Borouge, is celebrating seven years of operations in China during which trading volume has quadrupled.
  
  Borouge is gearing up for market growth both within China and the countries along the Belt and Road corridor, where demand for petrochemicals and plastics, including essential utility piping and cable insulation, is expected to more than double by 2040.
  
  In addition to fuelling and laying the foundational infrastructure of the Belt and Road region, connecting it to the rest of the world is also a critical aspect of this groundbreaking exercise in economic development. At the pivot point between Asia, Europe and Africa, the UAE is ideally located as a logistical hub that can facilitate trade to and from Belt and Road countries.
  
  DP World’s Jebel Ali port is the largest in the Middle East and Abu Dhabi Ports Company is one of the fastest growing. Last year, ADPC partnered with China’s shipping giant Cosco to build a new terminal at Khalifa Port that will double cargo capacity, further expanding the flow of commerce between the Belt and Road region and the world’s other major trading blocs. As the Belt and Road region looks to extend its footprint into Africa, the UAE represents a natural nexus for developing mutually beneficial trading links.
  
  The 65 countries of the Belt and Road region currently represent 30 per cent of global GDP. By 2040, they will account for almost two-thirds, thereby becoming the world’s most significant driver of economic growth. Making the right investments now will ensure this growth remains sustainable and more evenly spread.
  
  In short, the success of the Belt and Road initiative can provide the foundation for a more secure, prosperous and progressive future for the world throughout the rest of this century and beyond.
  
  HE Dr Sultan Ahmed Al Jaber is Minister of State and group chief executive of Adnoc
  

 

[Clutch]

Trump makes a U-Turn: USA will now go to Belt & Road Conference!

US to send delegation to China’s Belt and Road summit

The United States said it "recognizes the importance" of the plan for a new Silk Road
By REUTERS
May.13,2017
The United States will send a delegation led by White House adviser Matt Pottinger to a summit for China’s new Silk Road plan this weekend, China’s Foreign Ministry said on Friday.

The announcement that a US delegation would be coming to what is China’s biggest diplomatic event of the year coincides with the unveiling of an important trade deal between China and the US. The deal, the first tangible result of trade talks that began last month, will see China allow US imports of beef no later than July 16. By that deadline, the United States said it would issue a proposed rule to allow Chinese cooked poultry to enter US markets. China will also allow increased access for American financial firms.

In return, the United States said it “recognizes the importance” of the plan for a new Silk Road, known as the Belt and Road initiative, and would send a delegation to a conference on it in Beijing, delivering a symbolic boost to Chinese President Xi Jinping’s signature foreign and economic policy.

China Accelerator to help promising K-P startups increase outreach

Chinese Foreign Ministry spokesman Geng Shuang said Pottinger, special assistant to the president and the National Security Council’s senior director for East Asia, would be coming. “We’ve said all along the Belt and Road is an open, inclusive initiative,” Geng told a daily news briefing. “We welcome all parties to participate.” The US embassy in Beijing said US Commerce Department official Alan Turley would be part of the delegation.

Despite espousing extensive infrastructure investment across Asia, Europe and beyond, the initiative has struggled to generate much attraction from major Western economies despite an aggressive diplomatic effort and promotion. Of the 29 visiting leaders attending what is formally called the Belt and Road Forum, only one – Italian Prime Minister Paolo Gentiloni – is from a G7 nation.

The forum is seen as one of China’s competing initiatives against the Obama administration’s regional trade pact, the Trans-Pacific Partnership, which did not include China. But US President Donald Trump withdrew the United States from the partnership in January, effectively killing the deal.

“The United States has realized the importance of the Belt and Road Initiative and will send its delegates to attend the summit,” vice finance minister Zhu Guangyao said in an earlier news briefing on Friday.

 

[Clutch]

United Nations Endorsement of the One Belt & Road Initiative (and by default CPEC)

Belt & Road live stream: Investment Forum (Live in approx 4 hours). Go to YouTube and enable alert when conference starts for live stream:

 

[Kabira]

ISLAMABAD: Pakistan signed new deals with China on Saturday worth nearly $500 million ahead of Beijing's international forum on its "Silk Road" trade and infrastructure initiative for Asia, Africa and Europe, the Pakistani government said.

The memorandums of understanding add to $57 billion already pledged for the China-Pakistan Economic Corridor (CPEC), a network of rail, road and energy infrastructure that is part of the wider Chinese project also known as One Belt-One Road.

The deals came as Prime Minister Nawaz Sharif met Chinese President Xi Jinping ahead of the Beijing summit expected to be attended by leaders from at least 29 countries to promote Xi's vision of expanding trade links.

Delegates in Beijing will hold a series of sessions on Sunday to discuss the plan in more detail, including trade and finance.

Proposed in 2013 by Xi, the project is broad on ambition but still short on specifics.

Pakistan has been a flagship country and one of the most enthusiastic supporters of the One Belt-One Road initiative, in part because many projects are for power plants to alleviate the country's decade-long energy-shortage crisis that sees frequent blackouts.

"China-Pakistan Economic Corridor is a core component of your visionary initiative of the "One Belt-One Road," Sharif told Xi when they met at the Great Hall of China on Saturday, according to the Associated Press of Pakistan.

PROJECTS

Xi called for a swift completion of projects involving Gwadar Port and special economic and industrial parks along the corridor, state Xinhua news service reported.

Among the 3.4 billion RMB($493 million) in deals Sharif's office said were signed on Saturday were:

- Two cooperation agreements worth 2.3 billion RMB ($333 million) for an airport in the southwestern town of Gwadar, site of a deep-water port that is to provide an outlet to the Arabian Sea from the far western Chinese province of Xinjiang.

- Establishment of the Havelian Dry Port in Pakistan.

- Agreement on economic and technical cooperation (1.1 billion RMB) ($160 million) for the East Bay Expressway linking Gwadar to Pakistan's existing highway system.

China says that between 2014 and 2016, its businesses signed projects worth $304.9 billion in Belt and Road countries. Some of the projects could be in development for years.

Some countries are wary of the debt burden that the Chinese financing could create.

Pakistan, however, has expressed an optimistic view, with the government's chief economist telling Reuters this week that the repayments will peak at around $5 billion in 2022, but will be more than offset by transit fees charged on the new transport corridor.
http://nation.com.pk/business/13-Ma...00-million-in-china-deals-at-silk-road-summit