Saturday, 16 November, 2019

Germany demands more free trade guarantees on China Silk Road plan - minister

Christy Curtis | 15 May, 2017, 01:47

Chinese President Xi Jinping saidtoday that all countries should respect each other'ssovereignty and territorial integrity, as he inaugurated thehigh-profile Belt and Road Forum which India boycotted due toconcerns over an economic corridor that runs through PoK.

Opening the summit on Sunday, Xi pledged $124 billion in funding toward the initiative.

The initiative spans some 65 countries representing 60 percent of the world population and around a third of global gross domestic product.

Also likely to be displeased was Russian President Vladimir Putin, who spoke at the forum shortly after Xi Jinping.

In a statement, the Department of Foreign Affairs extended the country's congratulations to Chinese President Xi Jinping on his "bold and fresh" worldwide cooperation initiative, saying Manila looks forward to cooperating on "convergent priorities".

"The United States recognises the importance of improving economic connectivity through high-quality infrastructure development, and hence, welcomes efforts from all countries, including China, in achieving this", Pottinger said, according to a statement from the U.S. Embassy in Beijing.

"I don't know what North Korea is thinking of, they're so insane", she said, adding that the forum was a "chance for China to get more control of this kind of global affairs".

"As China drives forward the Belt and Road initiative from the east, we in Britain are a natural partner in the west, standing ready to work with all Belt and Road partner countries to make a success of this initiative".

But neighbours Japan and India have stayed away from the summit, suspicious that China's development agenda masks a bid for strategic assets and geopolitical ambitions.

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Turkish President Recep Tayyip Erdogan described the Belt and Road initiative as "against terrorism" adding that Turkey will give all kinds of support for it, Anadolu reported.

"The trade deficit with China had reached $ 52.7 billion in 2015-16, which was 41% of our total trade deficit (130 billion dollars)".

"We should foster a new type of worldwide relationsfeaturing win-win cooperation; we should forge partnerships ofdialogue with no confrontation and of friendship, rather thanalliance", he said.

Sharif said the Belt and Road "rejected the encirclement for any country".

There are also several European leaders attending, including the prime ministers of Spain, Italy, Greece and Hungary.

The US-based organisation said Chinese authorities have "heightened surveillance and repression to prevent potential unrest that could impede" Belt and Road plans in the western Xinjiang region.

He said Beijing plans to announce dozens of new investment and other agreements during the two-day event.

The railway will travel over 400 kilometres in China to the Nepal border, and then about another 150 kilometres from the Nepali border to Kathmandu, he said.

Other delegates included officials, entrepreneurs and financiers from more than 130 countries, and representatives of key global organisations such as UN Secretary- General Antonio Guterres, World Bank President Jim Yong Kim, and worldwide Monetary Fund Director Christine Lagarde.

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