Today the Chinese President Xi Jinping delivered a keynote speech in the 3rd BRF. It was very impressive and comprehensive too. It was holistic disseminating the message of hope and harmony.
The BRF CEO Conference 2023 has become one of the biggest economic diplomacy achievements of China, concluding the bilateral & trilateral investments up to US$92.5 billion. More than 1000 representatives of the national, regional as well as international companies participated and inked the meaningful contracts. Green energy, trade in services, digitalization, bio-medicine, tourism, and infrastructure development.
Participation of the 140 countries and 30 international organizations clearly indicates huge economic, trade and investment potential of China.
The Chinese president Xi covered all aspects of BRI’s past achievements, present status and future priorities. It is constructive, positive, productive giving the message of hope of brighter future through international cooperation, economic globalization, openness, inclusiveness, modernization and qualitative industrialization in all the member countries and rest of the world. It clearly explains the important experience in achieving the success of the Belt and Road Initiative (BRI) and proposes China’s support.
Moreover, the speech was highly constructive, positive and effective. It was a positive message of hope sent by President Xi Jinping and China to all member countries and the world, that is, all countries should jointly work for achieving the goals of modernization, qualitative industrialization and economic globalization which may be achieved through inclusiveness, openness, modernization and digitalization.
During his speech Xi narrated success story of the BRI in the last ten years which was based on
an important methodology of peace and prosperity.
President Xi concluded that only mutually befitting propositions and beneficial cooperation can achieve wonders and enable countries to foster faster economic development which also reflects China’s role as a responsible country and its International mindedness. In addition to this the Global South and Global Community Development with Shared Future remained the driving force for continued joint development in the member countries of the BRI.
President Xi rightly maintained that taking other country’s economic development as a threat and industrial growth and freedom as a risk will not allow the world to live a better life and develop faster. In this regard, he termed international cooperation and economic globalization as essential forces of the future.
Furthermore, emerging ideological confrontation or geopolitical games should not be encouraged. Moreover he rightly opposed unilateral sanctions, economic marginalization, social coercion, and opposed new notions of decoupling and disconnection, disturbing the easy and smooth supplies of value chains in the world.
It seems that the eight actions for high-quality joint construction of the BRI proposed by President Xi are an important guide for action in the next step of BRI countries to move forward together, expand cooperation, and realize the modernization of countries around the world.
Xi’s announcement of new Global Initiative of AI is a new value addition in the strategic expansion of the BRI in the future which will definitely further increase spirits of development and digitalization in the member countries.
Interestingly, Xi announcement of allocations of 700 billion RMB for new window of financing to BRI’s member countries is timely vividly reflects the Chinese wisdom of global community with shared future and global financial integration having holistic spirits of GDI, GSI and GCI.
Furthermore promise to hold First BRI Science & Technology Forum is another hallmark of his well drafted and delivered speech showing the path of future that belongs to innovations, modernization and green energy in all the member countries.
Xi speech is the Chinese Brand of Geo-Economics mitigating the spillover socio-economic, geopolitical and geostrategic ramifications of the Global North economic protectionism, imposition of unilateral sanctions and last but not least, containing China. The speech is full of hope and courage to overcome all hurdles and jointly move forward to achieve the desired goals of socio-economic prosperity, trans-regional connectivity and human capital growth in all the member countries of the BRI.
The China Pakistan Economic Corridor (CPEC) is the flagship project of the BRI. The success of the BRI in terms of further expansion, connectivity, modernization, openness, digitalization, green transformation and qualitative industrialization is directly correlated with the success of CPEC Phase 1 & Phase II in Pakistan.
As a pilot project for the BRI, the China-Pakistan Economic Corridor was one of the earliest BRI projects proposed to start high-quality development. CPEC has played a huge role in early harvest projects in transportation, energy infrastructure, Gwadar Port and actively promoted the completion and commissioning of projects, laying a solid foundation for the CPEC’s next high-quality development in the fields of industrial cooperation, agriculture, science and technology, and people’s livelihood projects.
Currently Pakistan badly needs investments, innovations, green energy transformation (blue/green hydrogen generation power technologies), solar, wind, and other renewables, digitalization, hybrid agriculture, lithium batteries, EVs and many other advanced technologies of artificial intelligence in the country and an early start of the CPEC Phase-II would bring more inflows of FDIs in the country.
Comparative study of our foreign policy upholds that we share holistic and comprehensive bilateral relations with China. China has been the cornerstone of our foreign policy in the last seven decades.
We have preferably desired to have socio-economic relations with China and CPEC has further enhanced our ties up skies.
The CPEC in the last decade has brought a total of $25.4 billion in direct investment, 155,000 direct jobs, 510 kilometres of expressways, 8,200 megawatts of power capacity and 886 kilometres of core power transmission grid to Pakistan, injecting strong momentum into Pakistan’s economic and social development spheres.
Hopefully, Chinese policies of Global Development Initiative, Global Security Initiative and Global Civilizational Initiative with Pakistan will provide more imputes to development and stability.
It is predicted that after the visit of Prime Minister Anwar Ul Kakar the initiation of CPEC Phase-II will be started as soon as possible in the country.
SEZs such as the Gwadar Port Free Zone and the Rashakai SEZ will have attracted more investments.
