Pledging more than $100 billion in financing, Chinese President Xi Jinping called Sunday for close cooperation across Asia and Europe in areas from anti-terrorism to investment as 29 global leaders gathered to promote a Chinese initiative that may increase Beijing's global influence. While CPEC is highlighted as "flagship project", the B&R included Bangladesh, China, India and Myanmar (BCIM) Economic Corridor, New Eurasian Land Bridge, China-Mongolia-Russia Economic Corridor, China-Indochina Peninsula Economic Corridor and 21st century Maritime Silk Road.
OBOR is a development strategy proposed by Chinese President Xi Jinping, which focuses on connectivity and cooperation between China and the rest of Eurasia, encompassing around 60 countries. "This is both a continuation of our shared legacy and a right choice for the future", he said.
The speech built on an image of Xi as a champion of global free trade that he has sought to hone since US President Donald Trump's election, most notably in a January speech in Davos, Switzerland.
Singapore can play a role to help finance Belt and Road projects, and provide expertise in infrastructure planning.
"We have noted the statement by the spokesperson of India's External Affairs Ministry.
Trade routes will be adjusted as these new roads and ports get built and developed", said Mr Wong, who represented Singapore at the inaugural Belt and Road Forum in Beijing on Sunday and Monday.
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When the Belt and Road Forum opened yesterday, what took the breath away was not the pomp and circumstance of the opening ceremony, but the ambitious and strategic vision laid out by its Chinese proponents and managers.
Prime Minister Muhammad Nawaz Sharif is also attending the Leaders' Conference. Xi said the world must create conditions that promote open development and encourage the building of systems of "fair, reasonable and transparent global trade and investment rules".
Xi said the new Silk Road would be open to all, including Africa and the Americas, which are not situated on the traditional Silk Road.
Beijing asked New Delhi to explain what it meant by "meaningful dialogue" on the Belt and Road project.
The Belt and Road initiative will be a fundamental component of driving economic integration and ITC will be a strong partner in supporting trade facilitation reforms, sustainable value chains and good regulatory frameworks'. "We welcome India's participation in the Belt and Road Initiative".
The Chinese government's One Belt, One Road (OBOR) had been endorsed by 56 countries and regional organisations by signing memorandums of understanding and agreements with China. But he cautioned "all countries should respect each others' sovereignty. and territorial integrity".
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