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Xi Vows Belt, Road Support


India has been opposed to the inclusion of the China Pakistan Economic Corridor (CPEC) under the OBOR initiative as a part of the project passes through disputed Kashmir region.

Participation in the initiative enables Bangladesh to expedite its connectivity vision in order to realize its sub-regional development aspirations, Gowher said.

The implementation of the Belt and Road Initiative is in full swing, said Xi, adding that 68 countries and global organizations have signed multilateral agreements with China.

"Pursuing the Belt and Road initiative, China has no intention to form a small group detrimental to stability", as the pursuit of the initiative requires a peaceful and stable environment, Xi said.

Some of China's most reliable allies and partners are at the forum, including Russian President Vladimir Putin, Cambodian Prime Minister Hun Sen and Kazakh President Nursultan Nazarbayev.

China emphasised its commitment to shared global development by pledging additional funds, which include a $14.5bn injection into the $40bn Silk Road Fund.

Making a U-turn from its earlier position, the USA also sent a delegation led by Matt Pottinger, special assistant to the president and senior director for Asia at the National Security Council, after it clinched a trade deal with China.

They described the project as an illegal attempt to grab Gilgit and see it as a "Road of Gulami or Slavery for Gilgit-Baltistan".

He said deep-seated problems in global development had yet to be addressed effectively, with worldwide trade and investment sluggish, and economic globalisation encountering headwinds.

The initiative will surely bolster cooperation and stability, and help Asia become the world's new economic center of gravity, the experts said.


"This is an event that has been organized by the Chinese to focus on the Belt and Road Initiative".

The President, who has been in Beijing for the Belt and Road Forum for International Cooperation, said the Silk Road initiative by China fits well into the African Union agenda to create more infrastructure links within the continent.

"We should foster a new type of global relations featuring win-win cooperation; and we should forge partnerships of dialogue with no confrontation and of friendship rather than alliance", Xi said.

At the opening of the meeting on Sunday, Chinese President Xi Jinping pledged to pump an extra US$124 billion into the China-bankrolled project, which involves a huge network of ports, railways, roads and industrial parks.

The OBOR project is so vast in its scope, that it will link most Asian countries to China.

"We should build an open platform of cooperation and uphold and grow an open world economy", he told the opening of the two-day gathering in Beijing.

The chairman of the Chinese shipping conglomerate Cosco Xu Lirong told Reuters on the sidelines of the forum that the state-owned conglomerate will sign a deal today with Kazakhstan's national railway company to take a 24 per cent stake in a dry port in the Khorgos Eastern Gates special economic zone.

Asked whether New Delhi was participating in the summit, Indian Foreign Ministry spokesman Gopal Baglay said India could not accept a project that compromised its sovereignty.

Some Belt and Road projects are already raising concerns in certain countries.

"This is a continuation of Chinese non-interference", Economist Suman Bery said.

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