Search Result for : Cpec

The Dollar Business Bureau Prime Minister Modi is on his 6 day tour of 4 nations. On Thursday he is likely to meet President Vladimir Putin seeking to rejuvenate the friendship that India shared with Moscow sometime back. Both the leaders are actively looking to revive the slagging trade between the two countries and resolve the differences over their recent change in global alliances when they meet ahead of a summit in St Petersburg on Thursday. India was a close ally of Russia during the Cold War and Russia was India's largest trading partner, largest arms supplier, providing everything and anything to do with India's defence needs. The relationship underwent a transformation with the collapse of the USSR and India favouring the West to ...

The Dollar Business Bureau China’s 2 day unveiling of the One Belt One Road initiative, saw 29 heads of state coming together to partake in the $900 bn investment initiative aimed at developing land and sea trade routes from China to Europe; there were two conspicuous absent nations from the meet, Japan and India. India in its statement reply to China’s invitation to the initiative said, “We are of firm belief that connectivity initiatives must be based on universally recognized international norms, good governance, rule of law, openness, transparency and equality... Connectivity projects must be pursued in a manner that respects sovereignty and territorial integrity. India’s reluctance is plain and open. The CPEC route threatens to violate India’s sovereignty as the project passes ...

PTI India boycotted China's high-profile Belt and Road Forum, taking its protest over a controversial economic corridor traversing through Pakistan- occupied Kashmir (PoK) to a new level despite Beijing's overtures to ensure New Delhi's participation. Following India's boycott, Pakistan Prime Minister Nawaz Sharif, taking a veiled swipe at New Delhi's move, said the multi-billion dollar China-Pakistan Economic Corridor (CPEC) was an economic project open to all the nations in the region and it "must not be politicised". No Indian official of any level was present at the elaborate opening ceremony attended by 29 heads of state and government along with top officials of the world bodies like the UN, the World Bank and the IMF. India skipped the ...

The Dollar Business Bureau Extending an olive branch to India, Chinese envoy Luo Zhaohui proposed a four-pronged plan to resolve disputes, and further a friendly Sino-Indian bilateral cooperation. “Firstly, start negotiation on a China-India Treaty of Good Neighbourliness and Friendly Cooperation. Secondly, restart negotiation of China-India Free Trade Agreement. Thirdly, strive for an early harvest on the border issue. Fourthly, actively explore the feasibility of aligning China’s ‘One Belt One Road Initiative, and India's 'Act East Policy',” Luo said, in his address to the United Service Institution on May 5, 2017. While many sensitive issues, including China’s opposition to India’s Nuclear Suppliers Group (NSG) membership, have put daylight between the two nations, this move showcases China’s willingness to meet India half-way through. Speaking ...

The Dollar Business Bureau Chinese Premier Li Keqiang's upcoming visit to Australia is likely to see the already flourishing economic cooperation between the two countries make further progress. Officials anticipate new opportunities for strengthening of bilateral cooperation in China's pet modern Silk Road project, comprising of the 21st Century Maritime Silk Road and the Silk Road Economic Belt. China, as is the case with most countries, is also the largest trading partner of Australia. In 2015-16, China accounted for 26.5% of Australia's total merchandise trade. While exports to China made up 30% of its total exports, imports from China stood at 22.6% of total imports, a share greater than any other country. Last year, their bilateral trade reached $108 billion. China-Australia Free Trade Agreement (ChAFTA), a landmark trade facilitation agreement between the ...

PTI China on Friday dismissed as "unnecessary" the concerns of Pakistani businesses over the possibility of local markets getting flooded with cheap Chinese goods due to tax exemption under the CPEC project, marginalising local industries. "As for the specifics, I am not aware of them, but I think your concerns are unnecessary," Chinese foreign ministry spokesperson Hua Chunying said. Pakistani companies have expressed concerns over Chinese suppliers, who will get heavy tax exemptions, may flood local markets with cheap Chinese goods when the trade route under the USD 46 billion China-Pakistan Economic Corridor opens. Playing down such concerns, Hua said the CPEC, part of Beijing's Silk Road project, is a new cooperation framework set by China and Pakistan ...

Deepak Kumar China has once again expressed its interest in inviting India to join its ambitious One-Belt-One-Road (OBOR) connectivity project, envisaged to connect Asia with Europe and Africa through a network of rail routes, highways, gas and oil pipeline and other mega connectivity projects. India, however, remains wary of this regional and cross-continental connectivity project, especially since the project includes China-Pakistan-Economic-Corridor (CPEC) running through disputed PoK, and the possibility of playing second fiddle to the Chinese in the latter’s infrastructural projects.  Apart from the contentious CPEC project, which India claims it challenges its sovereignty, China’s successful underlying of the OBOR project will hurt India more. If India does become a part of this mega project, then it may just become a subordinate to ...

The Dollar Business Bureau Recently Russia came out in support of China-Pakistan Economic Corridor Project even making its intentions that Moscow should try and expand the scope of the CPEC including Russia and other Soviet republics. Though the suggestion by Moscow has not gone down well with India, Moscow is trying to warm up to Pakistan to in order to gain access into Afghanistan. And to do that it is factoring in some of Pakistan’s economic interests to win over Islamabad. Replying to a question, Russian Ambassador to Pakistan Alexey Y Dedov said his country wants Pakistan and India to resolve all differences, including the Kashmir issue, through peaceful means. He said Pakistan and Russia are also closely cooperating in efforts for restoration of ...