Beijing, April 17:
China’s new initiative to build a “maritime silk road” to boost connectivity between the Asia-Pacific region and the Indian Ocean will prioritise building ports and improving infrastructure in littoral countries like Bangladesh and Sri Lanka, according to official reports.
China is also keen to establish free trade zones to boost its economic presence in Indian Ocean countries under the umbrella of the plan – a move that will reinforce China’s deepening economic presence in the Indian Ocean Region and in India’s neighbourhood.
Since the silk road plan was unveiled last year when President Xi Jinping travelled to South-East Asia, Chinese officials have highlighted the initiative as a key diplomatic priority for the government.
Nations ranging from Malaysia and Singapore to India, Sri Lanka and the Gulf countries have all been sounded out about the initiative. It has, however, remained unclear what the plan would actually entail. Officials are yet to detail specifics, beyond describing objectives as boosting maritime connectivity.
In the first official details about the plan, a State media report on Thursday said a “priority” for the initiative was “port construction” and free trade zones. “The plan is expected to focus on infrastructure construction of countries along the route, including ports of Pakistan, Sri Lanka and Bangladesh,” the official Xinhua news agency quoted the China Securities Journal as saying.
China is already involved in port projects in the three countries, in Gwadar, Hambantota and Chittagong.
China hopes to “coordinate customs, quality supervision, e-commerce and other agencies to facilitate the scheme”, as well as set up free trade zones, the report said.
China’s southern provinces of Yunnan – which borders Myanmar and is at the centre of another economic plan to build a Bangladesh-China-India-Myanmar (BCIM) corridor – and Guangxi Zhuang may be tasked with pushing the plan.
The initiative was first proposed by Xi when he visited South-East Asia in October last year. The plan was reinforced by Premier Li Keqiang, who also visited Asean countries last year and announced the setting up of a 3 billion Yuan (around $500 million) maritime cooperation fund.
The initiative, which will deepen Chinese economic and maritime links with both South-East Asia and Indian Ocean Region (IOR) countries, is being seen by some analysts as attempting to reframe regional anxieties about China’s growing military and naval presence amid a number of disputes.
Zhou Bo, a strategic scholar at the Academy of Military Science, said in a recent article the “maritime silk road” may be a response to the “string of pearls” theory – a suggestion that China intended to build military bases in littoral countries, from Sri Lanka to Pakistan and Bangladesh.
China ‘Silk Road’ plan to push Indian Ocean ports, trade zones | Business Line
China’s new initiative to build a “maritime silk road” to boost connectivity between the Asia-Pacific region and the Indian Ocean will prioritise building ports and improving infrastructure in littoral countries like Bangladesh and Sri Lanka, according to official reports.
China is also keen to establish free trade zones to boost its economic presence in Indian Ocean countries under the umbrella of the plan – a move that will reinforce China’s deepening economic presence in the Indian Ocean Region and in India’s neighbourhood.
Since the silk road plan was unveiled last year when President Xi Jinping travelled to South-East Asia, Chinese officials have highlighted the initiative as a key diplomatic priority for the government.
Nations ranging from Malaysia and Singapore to India, Sri Lanka and the Gulf countries have all been sounded out about the initiative. It has, however, remained unclear what the plan would actually entail. Officials are yet to detail specifics, beyond describing objectives as boosting maritime connectivity.
In the first official details about the plan, a State media report on Thursday said a “priority” for the initiative was “port construction” and free trade zones. “The plan is expected to focus on infrastructure construction of countries along the route, including ports of Pakistan, Sri Lanka and Bangladesh,” the official Xinhua news agency quoted the China Securities Journal as saying.
China is already involved in port projects in the three countries, in Gwadar, Hambantota and Chittagong.
China hopes to “coordinate customs, quality supervision, e-commerce and other agencies to facilitate the scheme”, as well as set up free trade zones, the report said.
China’s southern provinces of Yunnan – which borders Myanmar and is at the centre of another economic plan to build a Bangladesh-China-India-Myanmar (BCIM) corridor – and Guangxi Zhuang may be tasked with pushing the plan.
The initiative was first proposed by Xi when he visited South-East Asia in October last year. The plan was reinforced by Premier Li Keqiang, who also visited Asean countries last year and announced the setting up of a 3 billion Yuan (around $500 million) maritime cooperation fund.
The initiative, which will deepen Chinese economic and maritime links with both South-East Asia and Indian Ocean Region (IOR) countries, is being seen by some analysts as attempting to reframe regional anxieties about China’s growing military and naval presence amid a number of disputes.
Zhou Bo, a strategic scholar at the Academy of Military Science, said in a recent article the “maritime silk road” may be a response to the “string of pearls” theory – a suggestion that China intended to build military bases in littoral countries, from Sri Lanka to Pakistan and Bangladesh.
China ‘Silk Road’ plan to push Indian Ocean ports, trade zones | Business Line
