Erdogan: New Silk Road to eradicate terrorism

May 15, 2017, 09:43
Erdogan: New Silk Road to eradicate terrorism

Presidents Vladimir Putin of Russian Federation and Recep Tayyip Erdogan of Turkey also spoke at the opening ceremony.

North Korea has test fired a new ballistic missile.According to South Korean and Japanese media, the missile was sacked from Kusong region located northwest of Pyongyang it flew for 30 minutes and traveled 700 kilometers before dropping down into the sea between the North Korea's east coast and Japan.Japan has strongly protested against the missile test saying it is a violation of United Nations resolutions.

Xi said the Belt and Road initiative is "a project of the century" that will benefit people across the world.

Making a U-turn from its earlier position, the U.S. also sent a delegation led by Matt Pottinger, special assistant to the president and senior director for Asia at the National Security Council, after it clinched a trade deal with China.

"So far, the demands of the European Union countries in areas such as free trade, setting a level playing field and equal conditions have not been met", she said in a press briefing on the sidelines of the summit in Beijing. But Beijing's effort is the most ambitious and is backed by China's financial muscle and status as the biggest global trader.

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"It has once again put China on centre stage", he was quoted as saying.

Katainen said Europe wanted to see "concrete, measurable outcomes" from investment talks, adding that he could imagine "results" within a year if Beijing could show strong enough political will to make market access offers.

He pledged an additional 100 billion yuan (US$14.50 billion) into the existing Silk Road Fund. He was due to meet Monday with Chinese officials and representatives of US companies looking at potential "Belt and Road" opportunities, said embassy spokeswoman Mary Beth Polley.

China's state-run Xinhua news agency characterised One Belt One Road as a "once in a lifetime crack at modern prosperity" for developing nations with infrastructure deficits which have been neglected by the west.

"It is my belief that Britain, lying at the western end of the Belt and Road, is a natural partner in this endeavour", he said, reported Reuters.

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Putin, speaking at the opening of the event, told participants that protectionism is a threat to the global economy.

The new Silk Road project is central to president Xi's ambition to place China as a champion of globalisation in contrast to the "America First" protectionist approach advocated by USA president Donald Trump.

India has objected to Chinese state-owned companies working in the Pakistani-held part of Kashmir, the Himalayan region claimed by both sides. OBOR is a project that will create a vast network of sea and land routes across dozens of countries where China would reportedly, spend $1 trillion on railways lines, roads, ports and other infrastructure.

Xi promised to avoid forming a "small group" of allies, which he said might harm regional stability.

More news: North Korea claims plot reveals US state-sponsored terrorism

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