CPEC should not be politicised, says Sharif

May 14, 2017

Beijing, May 14: Pakistan Prime Minister Nawaz Sharif today said that the multi-billion dollar CPEC was an economic project open to all nations in the region and it "must not be politicised", taking pot-shots at India for boycotting China's high-profile Belt and Road Forum.

nawazIndia skipped the meeting due to its concerns over the China-Pakistan Economic Corridor (CPEC), which goes through Pakistan-occupied Kashmir (PoK). However, few Indian scholars attended the opening session of the two-day "Belt and Road" conference here that brought together leaders from 29 nations.

"Let me make it very clear that CPEC is an economic undertaking open to all countries in the region. It has no geographical boundaries. It must not be politicised," Sharif said in his speech at the inaugural session of the forum, defending the project over which India has raised objections.

Stating that CPEC has emerged as core and flagship project of China's One Belt and One Road (OBOR), he said, "OBOR signifies that geo-economics must take precedence over geo-politics and that the centre of gravity should shift from conflict to cooperation. We see it as a path for overcoming terrorism and extremism."

In implementing CPEC "we are not striving to merely leverage geography for economic prosperity, we are also trying to build peaceful, connected and caring neighbourhood," he told the gathering.

"It is time we transcend our differences, resolve conflicts through diplomacy and leave legacy of peace for future generations," Sharif said without directly referring to India.

Sharif, who is leading a large delegation and clinched more Chinese finance for six more projects of the CPEC, said "the fact is that OBOR belongs to all of us, those who are participating in it and those who are not as yet. OBOR has truly become a global community."

"As OBOR unfolds across continents we see it fostering inclusion, creating tolerance and promoting acceptance of cultural diversity," he said.

He said Pakistan believes that the most powerful impact of OBOR will be on the lives of poor and marginalised people who would have higher incomes, better education and health facilities. It would help eradicating poverty, he added.

"The CPEC is core project of OBOR. In fact it has been rightly called its flagship because it aims to connect neighbourhoods of East and West Asia. CPEC makes Pakistan both a conduit, destination for cross regional investment and trade," he said.

Terming China as Pakistan's "close friend and trusted ally", he said his participation at the forum was to celebrate the remarkable success of the seminal initiative of OBOR.

He also said that infrastructure, energy and industrial projects under CPEC are moving as envisaged.

Many of them would be completed before their timelines. Unprecedented economic social and cultural benefits will accrue from the CPEC not just for people of Pakistan but also the people of the entire region, he said.

"Through a resolute will and sound planning as well as steadfast support of our Chinese friends, we shaped an enabling environment for CPEC to take off," he said.

He said CPEC is also producing new entrepreneurs and creating new jobs and attracting international investment.

Playing down differences over the project among different provinces in his country, Sharif said, "the CPEC is owned and nurtured by all citizens of Pakistan. It is also fully compatible with our own vision 2025 which invests our own resources in multiple corridors of regional cooperation including energy, industry trade and transportation."

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News Network
June 27,2020

LGeneva, Jun 27:: The number of confirmed coronavirus cases worldwide has risen by over 177,000 in the past 24 hours to 9.4 million and the death toll has topped 480,000, the World Health Organisation (WHO) said on Friday (local time).

On Thursday, the WHO reported 167,056 new cases and 5,336 related deaths.

The fresh daily situation report estimates the number of infections confirmed in the past 24 hours at 177,012. Further, 5,116 virus-related deaths were reported over the same period, taking the toll to 484,249.

The Americas lead the count with over 4.7 million cases, followed by Europe with more than 2.6 million.

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News Network
May 21,2020

Canberra, May 21: Australian Prime Minister Scott Morrison and his Indian counterpart, Narendra Modi, are looking forward to deepening the countries' strategic relationship, with both sides expected to sign a range of pacts from defence to trade in strategic sectors amid heightened tensions with China over Beijing's response to coronavirus pandemic.

During a virtual summit, scheduled to take place on June 4, both leaders are expected to ramp up efforts to diversify Australia's export markets and find trusted suppliers of vital products and components, a local newspaper, The Australian reported on Tuesday.

The new agreements will focus on reliable supply chains in key strategic sectors, including medical goods, technology and critical minerals, amid heightened tensions with China over Beijing's response to coronavirus pandemic.

The leaders will seal a new defence agreement allowing reciprocal access to bases and co-operation on military technology projects, while a new education partnership will be on the table to help overcome Australian university reliance on Chinese students.

The talks in terms of strategic convergence, now have greater significance as COVID-19 exacerbates the strategic contest between the US and China, and forces like-minded countries to seek out reliable partners.

Australian farmers could also benefit, with talks underway on expanding agricultural exports to India, including barley, as China throws up new trade barriers, media reports stated.

The virtual summit follows the cancellation of Morrison's planned state visit to India in January due to the bushfires.

Morrison said last year, ahead of his planned visit, that India was "a natural partner for Australia", referring to the countries' "shared values" -- a point of differentiation with China.

Former Department of Foreign Affairs and Trade secretary Peter Varghese, who wrote a landmark report on the bilateral relationship in 2018, was quoted by the newspaper as saying that India would be even more important to Australia in the post-COVID world. "If one of the lessons from COVID is that countries need to spread their risk, then finding new markets or building up existing markets is a crucial part of that," he added.

Varghese noted that India, a member of the Quadrilateral Security Dialogue along with Australia, Japan and the US, was a vital strategic partner to Australia in helping "constrain China's ambitions to be the predominant power".

"That shared objective between Australia and India of not wanting to see the region dominated by China is a key component of building up our geopolitical relationship," he told The Australian.

The summit also follows recent talks between Australian Foreign Minister Marise Payne and Indian counterpart Subrahmanyam Jaishankar on the pandemic response and Australia's call for an independent inquiry, which was overwhelmingly backed at the World Health Assembly on Tuesday.

Australia wants to support India to develop a domestic critical minerals processing industry, which would provide Western nations with an alternative to sourcing the materials from China.

Meanwhile, India has strong expertise as a manufacturer of drugs and medical equipment, while Australia is a centre of biomedical research, opening the possibility for closer co-operation in the key sector, the media reported further.

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News Network
March 6,2020

Mar 6: UK stocks fell again on Friday as growing economic risks from the coronavirus outbreak shattered investor confidence, with Britain recording its first death from the pathogen.

A 1.5% fall for the FTSE 100 erased the blue-chip index's gains from earlier this week. Export-heavy companies have now lost over $230 billion in value since the epidemic sparked a worldwide rout last week.

The domestically focussed mid-cap index was down 1.9%.

Cruise operator Carnival dropped 4.2% to its lowest level since 2012, a day after its Grand Princess ocean liner was barred from returning to its home port of San Francisco on virus fears.

Britain said an older person with underlying health problems had succumbed to the flu-like virus on Thursday, while the number of infections jumped to 115.

In company news, drug maker AstraZeneca fell 1% after it said its treatment for a form of bladder cancer failed to meet the main goal of improving overall survival in patients in a late-stage study.

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