- Nawaz says Chinese initiative knitting nations, regions into economic networks
- ‘New infrastructure redefining economic landscapes within countries, regions’
Prime Minister Muhammad Nawaz Sharif on Monday said that the One Belt One Road (OBOR) and the China-Pakistan Economic Corridor (CPEC) were all about shared prosperity, beginning a new era for humanity and vowing progress and prosperity in the regions.
“Work has already begun across Asia and Africa on infrastructure, industrial cooperation and new platforms of technology. Financial flows have found their way to some of the least developed parts of the world. These outcomes are knitting nations and regions into economic networks and inclusive neighbourhoods that transcend borders,” he said while addressing the second session of the Leaders’ Roundtable as part of the two-day Belt and Road Forum for International Cooperation.
The prime minister said that the core of the OBOR initiative was connectivity and long-term development, especially in developing countries. He apprised the gathering that OBOR was in fact the beginning of a new era for humanity, which has brought to poor regions in the belt-road countries, spectacular opportunities to break free from the vicious cycle of poverty and under-development.
He said that the railroads, highways, ports and airports that were being built were redefining economic landscapes within countries and regions. “Hinterlands are being connected with coasts. Big businesses are moving to less developed and neglected territories. And a new generation of entrepreneurs is being inspired,” he remarked.
He viewed that the OBOR-led connectivity was reshaping the global economic dynamics. Emerging economies were the primary beneficiaries of the improved infrastructure and healthy growth in trade and services, he said. Pakistan was pursuing a vision of a peaceful, inter-connected and prosperous neighbourhood with great determination, he said.
“In particular, we recognise the potential of digital technologies as a catalyst of connectivity, change and enablement. We have relentlessly pursued policies for digital and financial inclusion during the last four years,” he said. Nawaz said that Pakistan had particularly focused on the most disadvantaged segments of the population. Rapid digitalisation and next generation connectivity were at the heart of his government’s agenda for transforming into a knowledge-based economy.
He said that the enhanced economic cooperation would benefit the present and future generations and reduce regional tensions and strife. “We believe in a shared, inclusive, and win-win development,” he said. Building CPEC together, both Pakistan and China were reaping the early benefits of interconnected development.
He said that the connection of Xinjiang to Gwadar and Karachi created new supply and logistic chains, as well as manufacturing networks. In fact, CPEC has infused Pakistan’s economy with new vitality and dynamism, he maintained. He said that the Gwadar Port would link up East, West and South Asia besides reaching out to African and European markets.
In his statement at the first session of the Leaders’ Roundtable, Prime Minister Nawaz said that the OBOR initiative would help overcome threats of terrorism, refugee movements, food and water security in the region. “I am confident that with OBOR in place, we would be able to turn the tide of these threats,” he said. The new OBOR family and the wider international community should coordinate and synergise their initiatives to create and enhance the space for cooperation, he said.
He stressed dialogue and communication with nations outside the belt-road routes as necessary to dispel apprehensions. Nawaz said that Pakistan strongly favours cooperation and synergetic partnerships across regions for socioeconomic development and human prosperity. He emphasised on policy synergy at the level of international bodies and mentioned that several national planning bodies had developed plans and initiatives on global issues and established partnerships with OBOR.
Most importantly, he said the Bretton Woods institutions and the Asian Infrastructure Investment Bank should deepen their cooperation in knowledge-sharing, development financing and country-level coordination through cohesive institutional interaction. The prime minister said that the world’s economy was showing the first signs of improvement and there were credible forecasts that global trade and commerce would strengthen.
However, he pointed out that it was not known how long this recovery would last because of its many vulnerabilities. The prime minister said the two main trends competing in the global economy were advocacy for protectionism; and an increasing call for greater economic collaboration for sustainable development. He said the initiative was firmly supported by the Asian Infrastructure Investment Bank and the Silk Road Fund.
Under the China-Pakistan Economic Corridor banner, Pakistan had made phenomenal progress in a short span of time through active participation in the areas of infrastructure, energy, industrial zones and telecommunications, he said, and called for addressing four areas that require more focus. He called for reviewing overall progress, as all stand to benefit from early harvest projects.
He stressed more synergy in development strategies both at the regional and international levels. The prime minister stressed that this initiative must continue to deliver win-win outcomes, adding that all should win and all should succeed. He also called for building on the solid foundations of OBOR to make it a living, growing and organic partnership.
