Last news in Fakti

Pakistan PM calls for expansion of China's Belt and Road Initiative

Shehbaz Sharif stressed need for enhanced regional cooperation at Shanghai Cooperation Organization meeting in Islamabad

Oct 16, 2024 11:41 78

Pakistan PM calls for expansion of China's Belt and Road Initiative  - 1

Pakistan Prime Minister Shehbaz Sharif called today China's "One Belt, One Road" initiative to be expanded to strengthen regional cooperation, Reuters reported, as quoted by BTA.

He was speaking at a meeting of the heads of government of the Shanghai Cooperation Organization (SCO) countries, which is being held in Islamabad and is attended by representatives of 11 countries, including the host Pakistan, China, Russia and India.

Seven prime ministers are participating in the meeting, including China's Li Qiang.

"Signature projects such as the initiative "One Belt, One Road" of President Xi Jinping should be expanded with a focus on the development of roads, railways and digital infrastructure that strengthen integration and cooperation in our region," Sharif said at the meeting he chaired.

The $1 trillion Belt and Road Initiative is a global plan for infrastructure and energy networks launched a decade ago. Its purpose is to connect Asia with Africa and Europe by land and sea.

Opponents of Beijing perceive "One Belt, One Road" as a means by which China spreads its geopolitical and economic influence.

Western countries, through the G-7 platform, last year announced plans worth 600 billion dollars to develop competitive infrastructure.

Critics of "One Belt, One Road" claim that the initiative creates unsustainable indebtedness for developing countries.

The China-Pakistan Economic Corridor is part of the "One Belt, One Road", with Beijing investing billions of dollars in Pakistan to build road infrastructure, a strategic port and an airport.

Sharif said that the "China-Pakistan" will contribute to strengthening cooperation. He noted that 40% of the world's population lives in the ten countries that are full members of the SCO.