Zhou To Xi Carrying Forward The Bandung Spirit

By Asanga Abeyagoonasekera -April 24, 2015

Asanga Abeygoonasekera

The recent visit to Pakistan by Chinese President Xi Jing Ping secured $46b for development of power and infrastructure sector. This sizeable Chinese foreign investment will help Pakistan’s economy significantly. The elevation from “iron friends” to an all weather strategic partnership relationship between the two nations was significant. After signing more than 50 cooperation deals between the two countries promises to raise the bilateral trade from $16b to $20b over three years was planned.

The proposed development plan of China Pakistan Economic corridor where the Silk Road Economic Belt and the 21st Century Maritime Silk Road meet is significant. It will affect the entire south Asian region. According Xi “We need to form a ‘1+4′ cooperation structure with the CPEC at the center and the Gwadar Port, transport infrastructure, energy and industrial cooperation being the four key areas to achieve a win-win result and common development,” This statement reflects the deep interest and commitment of China to support nations such as Pakistan. Similar initiatives launched in other South Asian nations such as Sri Lanka’s Hambanthota port will contribute immensely to regional economic and trade enhancement and intensification .

China, a giant neighbour to South Asia will work closely and strengthen its relationship with South Asia over the next decade. Pakistan and China who assisted Sri Lanka to defeat the terrorist LTTE could work together on further improving and contributing toward international counter terrorism efforts and enhancing counter terrorism capacity building in the region.

The large scale flow of Chinese assistance to developing nations in South Asia and Africa will be a great relief to these nations who battle to improve the economic conditions.  Read More