Belt and Road summiteers swear by open trade centred around WTO

Belt and Road Initiative

CPEC is the key artery of China's Belt and Road project that aims to connect Asia, Europe and Africa through a network of roads, railway lines and ports.

Wang mentioned India as one of the countries along the Belt and Road with a huge population and demographic dividend. Leaders from 29 countries are attending the forum, which China formally calls the scheme in English the Belt and Road initiative.

On the eve of the One Belt One Road (OBOR) forum, India issued a statement saying it can not "accept a project that ignores its core concerns on sovereignty and territorial integrity".

"At Rio Tinto, our business sees the potential from a greater focus on infrastructure through the Belt and Road", he said. Since jettisoning the Trans-Pacific Partnership - the Obama administration's trade treaty meant to insinuate the U.S. at the center of Asian trade - the Trump administration has offered no answer to One Belt, One Road.

This edition of the forum was attended by Pakistan Prime Minister Sharif, his Sri Lankan counterpart Ranil Wickramasinghe.

India has voiced displeasure at the China-Pakistan Economic Corridor, a Belt and Road project aimed at linking northwestern China to the Arabian Sea.

A two-day summit of world leaders in Beijing ended Monday with promises and high hopes that the Belt and Road Initiative will be the beginning of the building of a better world.

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The route cuts through Gilgit and Baltistan in Pakistan-administered Kashmir, disputed territory that India claims is illegally occupied.

The main goal of this initiative is to encompass pipelines and a port in Pakistan, bridges in Bangladesh and railways to Russian Federation to ultimately create what China calls a "modern Silk Road".

Xi focused his speech on his initiative, boasting that it represented a "road for peace" and a way to "forge partnerships of friendship rather than alliance".

The editorial said India is the only country that has opposed China-Pakistan Economic Corridor (CPEC) recently, adding India fears being targeted by strengthening Sino-Pakistani ties. "We always follow the principle of extensive consultation, contribution and shared benefit", she said, referring to Chinese President Xi Jinping's remarks at the Summit that benefits from the venture should be shared by all.

"Certain sections said that China is going to use this to encircle India", Zhanwu said.

China took strong exception to India's stand on its Belt and Road initiative, saying it was welcome to participate in the mega project but New Delhi should explain what kind of "meaningful dialogue" it wantsBeijing to hold with it.

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