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Showing posts from April, 2019

Bangladesh-China-India-Myanmar (BCIM) Economic Corridor no longer listed under BRI umbrella

Atul AnejaBEIJING:, APRIL 28, 2019South Asia is covered by three major undertakings—the China-Myanmar Economic Corridor (CMEC), the Nepal-China Trans-Himalayan Multi-dimensional Connectivity Network, including Nepal-China cross-border railway, as well as the China Pakistan Economic Corridor (CPEC).India’s decision to skip the Belt and Road Forum (BRF) may have led to the exclusion of the Bangladesh- China- India- Myanmar (BCIM) Economic corridor from the list of projects covered by the China-led Belt and Road Initiative (BRI) umbrella.In an annex tagged with the Joint Communiqué of the Leaders' Roundtable of the BRF, which concluded in Beijing on Saturday, the Chinese foreign ministry website has not listed the BCIM as a project covered by the BRI—the giant connectivity initiative speared by China to revive the ancient Silk Road across Eurasia and Africa.Instead, South Asia is covered by three major undertakings—the China-Myanmar Economic Corridor (CMEC), the Nepal-China Trans-Him…

Conspiracy theories – a constant threat to CPEC

By Shakeel Ahmad RamayPublished: April 29, 2019CPEC route. PHOTO: REUTERSISLAMABAD: The China-Pakistan Economic Corridor (CPEC) has entered its second phase and Pakistan expects to revive its economy through industrial cooperation under the mega project.Pakistan deems it necessary to control fiscal and current account deficits, generate employment, reduce poverty and move on the development ladder.In this regard, a number of working groups has been formed to ensure a smooth implementation of CPEC.The latest addition is the CPEC Business Council for Industrial Cooperation. The initiative is in line with the core objective of the project – economic well-being.The whole philosophy of CPEC revolves around economic development and benefit-sharing. These are the undisputed and well-established objectives.Unfortunately, CPEC could not enjoy the status of the common good for both countries. From the first day, it has become a victim of conspiracy theories.PM Imran rounds off China visit with…

China-Pakistan sign host of deals under CPEC during PM Imran Khan's visit

The agreements were stated to be part of the next phase of the China-Pakistan Economic Corridor (CPEC).By PTI | Apr 28, 2019, 06.22 PM ISTReutersChina-Pakistan Economic and Technical Cooperation Agreement for Rashakai special economic zone joint venture.BEIJING: China and Pakistan firmed up their cooperation under the USD 60 billion CPECby signing a host of agreements on Sunday, including upgradation of a Karachi-Peshawar railway line, launching of second phase of the Free Trade Agreement and establishment of a dry port.The agreements were stated to be part of the next phase of the China-Pakistan Economic Corridor ( CPEC).ADVERTISEMENT
Pakistan Prime Minister Imran Khan who came here to attend China's second Belt and Road Forum (BRF) on April 25 met Chinese Premier Li Keqiang on Sunday during which they signed an agreement to build a double railway track from Karachi and Peshawar, Pakistan's state-run Radio Pakistan reported.OTT

The BRF was held here from April 26-27 to highlig…

US imposes sanctions on Pakistan; may deny visas to nationals

PTI
Last updated on April 27, 2019 at 05.40 pmThe US has imposed sanctions on Pakistan after Islamabad refused to take back its citizen deportees and visa over-stayers from America, warning that it may withhold visas of Pakistanis beginning from its senior officials. The State Department on Friday said that consular operations in Pakistan remain "unchanged" as of now but as a result of such a sanction mentioned in a Federal Register notification dated April 22, the US may withhold visas of Pakistanis beginning with its senior officials.Pakistan is the latest to join the list of 10 nations that have been imposed with sanctions under a US law according to which countries refusing to take back deportees and visa over-stayers will be denied American visas.Notably eight of these countries have been slapped with such visa sanctions under the Trump administration. Two of them, Ghana and Pakistan have been included in the list this year. The other countries include Guyana in 2001, th…

Belt & Road Initiative not an exclusive club, must benefit all: Xi Jinping

Press Trust of India | Beijing | Last Updated at April 27 2019 11:23 IST
Chinese President Xi Jinping talks to United Nations Secretary General Antonio Guterres (not pictured) during the bilateral meeting of the Second Belt and Road Forum at the Great Hall of the People in Beijing, China. Photo: Reuters
Chinese President Xi Jinping on Saturday said that the Belt and Road Initiative should benefit all around the world and deliver common development by following the established international norms.Addressing a roundtable meeting of the 37 heads of states and governments who attended the 2nd Belt and Road Forum (BRF), which would close on Saturday, Xi again stressed that the trillion-dollar Belt and Road Initiative (BRI) would focus on common development of all the participating countries and their people."We must implement the principle of extensive consultation, joint contribution and shared benefits to see that all voices are heard, all reached their full potential and all stand to…

‘Allowing Afghan Transit Trade can unleash full potential of Gwadar port’

RECORDER REPORT APR 27TH, 2019ARTICLEInterview with Mir Naveed Baloch, Chairman Gwadar Economic Forum, Leader of Gwadar Chamber of Commerce and Industry Trained as a mechanical engineer from the Balochistan University of Engineering and Technology, Mir Naveed Baloch is a member of the Pakistan Engineering Council since 2003. Following his engineering education, he ventured into diversified commercial interests such as real estate; and shipping, transport & freight.Currently, he is serving his third term as the President of Gwadar Chamber of Commerce and Industry (GCCI) and has been the President of Zameendar Association in Gwadar for last 15 years. His past stints include serving as Vice President of FPCCI and as member of caretaker cabinet in Balochistan during the last interim government. He is also the founder Chairman of Gwadar Economic Forum and CEO of Gwadar Global Gateway, a real-estate company.In this interview, BR Research picks Mr Baloch's brains on recent developmen…

Bombs & backlash

Irfan HusainApril 27, 2019

irfan.husain@gmail.comWHENEVER there’s a terrorist attack anywhere, I pray that Muslims weren’t involved. And if they are, I cross my fingers and wish none of them were Pakistanis. In the horror stories emerging from Sri Lanka, I seem to have got my second wish. However, this is scant consolation for the mayhem unleashed by a little-known Islamist group, the National Towheed Jamaath (NTJ), backed by the militant Islamic State (IS) group.On Sunday morning in the UK, I received a string of text and WhatsApp messages enquiring about my safety. Friends knew that as I do every year, I had spent the winter at our beach house in Sri Lanka, but were unsure about my whereabouts. I immediately went on Twitter to discover the bloodbath that had occurred in Colombo, Negombo and Batticaloa. The rest of the morning was spent in trying to find out if our Sri Lankan friends and their families were safe. As the magnitude of the atrocity emerged, I knew that only an experience…

Gas shortage to increase by 157pc next fiscal year

Khaleeq KianiUpdated April 27, 2019
Ogra issues its State of the Industry Report for 2017-18.ISLAMABAD: With an addition of 700,000 consumers last year, Pakistan’s gas shortfall is estimated to jump by 157 per cent to 3.7 billion cubic feet per day (bcfd) in fiscal year 2019-20 — almost equal to total gas supplies at present.The estimates have been made by the Oil and Gas Regulatory Authority (Ogra) that put the gas shortfall increasing almost continuously every year to 6.6bcfd by FY2028.In its flagship “State of the Industry Report 2017-18”, the authority noted that the (natural gas) demand-supply gap during FY2017-18 was 1,447mmcfd and that this gap was expected to rise to 3,720mmcfd by FY2019-20. The regulator put the total gas demand at about 6.9bcfd in fiscal year 2019-20 compared to total supplies of about 3.2bcfd.It said the demand would increase to 7.7bcfd by 2024 but domestic supplies would fall substantially to 2.3bcfd, leaving a shortfall at 5.5bcfd. The shortfall would prac…

China says Belt and Road Initiative has entered a new era of transparency

Atul AnejaBEIJING, APRIL 26, 2019 13:26 ISTUPDATED: APRIL 26, 2019 14:19 ISTIndia has decided to skip the BRF in opposition to the BRI’s China Pakistan Economic Corridor. New Delhi feels it is an infringement of its sovereignty.China on Friday announced that the financial model for funding projects under its flagship Belt and Road Initiative (BRI) had been revamped, countering criticism that its mega-connectivity undertaking was opening “debt traps” for enhancing its geopolitical influence.“We have also formulated guiding principles of financing the development of the Belt and Road and published debt sustainability framework for participating countries to provide guidance for BRI financing cooperation,” Chinese President Xi Jinping said in his keynote address at the second Belt and Road Forum (BRF).Mr. Xi’s opening remarks highlighted the subtext of rivalry with the United States in setting the global agenda. In the presence of 37 country heads, chief of the International Monetary Fun…

Address by Prime Minister Imran Khan at opening ceremony of Second Belt and Road Forum

Source:CE.cn | 2019-04-26 13:15

BEIJING, April 26 (China Economic Net) -- Pakistani Prime Minister Imran Khan delivered an address at the opening ceremony of the Second Belt and Road Forum in Beijing on Friday.Belt and Road Cooperation: Shaping a Brighter FutureAddress by Prime Minister Imran KhanAt Opening Ceremony of the Second Belt and Road ForumBeijing, 26 April 2019Excellency President Xi Jinping,Esteemed World Leaders,Distinguished Participants,Ladies and Gentlemen,It is my privilege to speak at the Second Belt and Road Forum for International Cooperation.I congratulate President Xi Jinping and the Government of People’s Republic of China for organizing this important event.As the Belt and Road transforms from vision into reality, this gathering of partners and friends affords a useful platform for taking stock and setting the agenda.In a world of geopolitical uncertainty, of rising inequality and barriers to trade, the BRI offers a model of collaboration, partnership, connectivi…

Saudi Arabia expressed keen interest in Gwadar investment

26 April, 2019Saudi Arabia has expressed its keen interest in exploring more avenues for investment in Gwadar, as there is a huge potential for trade and economic activities.This was deliberated during a meeting of the Saudi Shura Council Chairman Dr Abdullah Bin Muhammad Bin Ibrahim Al-Shaikh with Senate Chairman Muhammad Sadiq Sanjrani at a reception hosted in honour of the Saudi Shura Council.The Senate chairman observed that mutual trust and confidence had been witnessed in the decades-long friendship between the two sides. Referring to the investment opportunities in Pakistan, he observed that an environment conducive to multi-sector investment existed in Pakistan, and Saudi investors would benefit from the investment opportunities.Sanjrani said he considered the visit of Saudi Crown Prince Mohammad bin Salman as highly important, as it would help in laying the foundation for a new era of cooperation. He said that Saudi investment had helped in rejuvenating the confidence of inte…

GPA chairman outlines ambitious plans for Gwadar

By app  Apr.26,2019Says port will play major role in regional tradeBEIJING: Gwadar Port Authority (GPA) Chairman Naseer Khan Kashani said on Wednesday that the Gwadar Smart Port City Master Plan would transform the port city into a hub for industrialization, commercial activity and international marine trade.In an interview with the Global Times, he said he believed that the gains would trickle down to the grassroots level, uplifting the lives of common people, equipping them with market oriented skills, unleashing job opportunities, increasing educational and healthcare facilities and making them available to all households.He termed Gwadar port an integral part of the ChinaPakistan Economic Corridor (CPEC) and the Belt and Road Initiative (BRI), adding that, being located close to the international oil trade and sea shipping lanes at the mouth of the Persian Gulf, just outside of the Strait of Hormuz, it enjoyed unique geostrategic and geoeconomic importance for all BRI countries.Co…

Why the U.S. Shouldn’t Sit Out the Belt and Road Initiative

Banners are displayed along a street ahead of the Belt and Road Forum in Beijing on Apr. 22, 2019. The Chinese Ambassador to the United States makes his case for China's global infrastructure push—and urges the U.S. to join.Wang Zhao—AFP via Getty ImagesBy CUI TIANKAIApril 23, 2019Imagine the potential of China and the United States, the world’s two largest, most vibrant economies collaborating on the most ambitious development project in history. The scenario is no fantasy: China’s Belt and Road Initiative (BRI), which kicked off almost six years ago, will eventually connect a vast swath of the world, creating huge yields in economic activity, and wiring the world together as never before. However, the United States remains on the sidelines, and this has implications not only in terms of missed opportunities for growth in the U.S., but for the cause of global development which needs the ingenuity and the industry of the U.S.The BRI, which echoes the geographic footprint and spiri…

Belt and Road initiative: Two Key Channels to Achieving Financial Connectivity

Opening Remarks
By Christine Lagarde, IMF Managing Director 
Belt and Road Forum Session on Financial ConnectivityApril 24, 2019As prepared for deliveryGovernor Yi, Minister Liu, Distinguished Guests, Ladies and Gentlemen — good morning! Zao Shang Hao!I would like to thank the People’s Bank of China and the Chinese Ministry of Finance for organizing this important event.As we meet during this beautiful springtime weather it brings to mind the words of the Chinese proverb, “ The whole year must be planned for in the spring.”Over the next three days we will consider the ways the Belt and Road Initiative — the BRI—can help better connect the world physically and financially for years to come. It is fitting that we begin these conversations with financial connectivity. Why? Because history teaches us that physical and financial connectivity go hand-in-hand.Think of the original Silk Road. The desire for trade drove merchants to travel thousands of kilometers. Over time, infrastructure in …

Russia Supports the Chinese Belt and Road Initiative

25.04.2019Xing GuangchengWang Xuemei© ReutersThe Chinese Belt and Road initiative attracts different countries from all over the world, achieving interconnected relationships and simplifying the trade and investment process, repairing cracks in economic globalisation and forging regional economic cooperation, and putting the international economic order on the right, rational path, Xing Guangcheng and Wang Xuemei write.In recent years, the process of globalisation has come under threat and we see a tendency towards the fragmentation of the modern international economic system. The Chinese Belt and Road initiative (BRI), which is grounded in the principles of joint consultation, joint construction and joint use, attracts different countries from all over the world, achieving interconnected relationships and simplifying the trade and investment process, repairing cracks in economic globalisation and forging regional economic cooperation, and putting the international economic order on…