BEIJING: Prime Minister Nawaz Sharif on Sunday hailed China’s One Belt One Road initiative as a powerful tool for overcoming terrorism and extremism in the region.
Addressing a summit showcasing the One Belt One Road project in Beijing, PM Nawaz Sharif termed the initiative a ‘geo-economic revolution’ and said it would usher in unprecedented growth and accelerate reformation of global economic governance.
Paying tribute to China’s revival of the Silk Road, the Prime Minister termed China a “close friend and trusted ally” of Pakistan.
“We admire China’s vision of developing corridors across the region,” he said, adding that the massive initiative would be an important tool in fostering peace and development in the region.
“OBOR would promote inclusion and tolerance and help in overcoming terrorism and extremism. Its most important impact would be on the poor and marginalized population through its objective of sustainable development,” he said.
The Prime Minister called the China-Pakistan Economic Corridor (CPEC) a core and flagship project of One Belt One Road and said it is an economic undertaking open to all countries in the region.
“CPEC has the vision of a peaceful, connected and caring neighbourhood. It hopes to achieve unprecedented economic, social and cultural benefits and is creating new jobs, businesses, investments and entrepreneurship opportunities,” he said.
CPEC is bridging the gap between economic growth and social development and tapping the full potential of the country’s youth, the Prime Minister added.
The Chinese-bankrolled One Belt One Road project seeks to link China with Africa, Asia and Europe through an enormous network of ports, railways, roads and industrial parks.
The initiative spans some 65 countries representing 60 percent of the world population and around a third of global gross domestic product. The China Development Bank has earmarked $890 billion for some 900 projects.