The Belt and Road Initiative (BRI) ended up being Pakistan’s economic savior: According to Prime Minister, the BRI program is helping to shape a world of peace and shared prosperity.
BOAO:
According to Planning Minister Ahsan Iqbal, the multibillion-dollar China-Pakistan Economic Corridor (CPEC), which is part of the Belt and Road Initiative, has given Pakistan’s economy stability at a time when it was on the verge of collapse and given it the resources it needs to face its challenges while also enhancing the country’s overall security situation.
Iqbal remarked at the Boao Conference for Asia, which had the subject “An Uncertain World: Unity and Collaboration for Development amid Challenges,” “Had this stabilization through CPEC not taken place, had the economy not generated resources, we could never defeat extremism in our war against terrorism.”
In 2013, when Pakistan experienced its worst energy crisis, which had caused social unrest and rioting while “the social and economic fiber was also virtually coming down,” he praised the CPEC for helping Pakistan meet its energy and food security needs.
The program, he continued, also repaired the nation’s dilapidated infrastructure, produced jobs, and brought the political and social climate back to normal.
The minister held the view that Pakistan felt the Belt and Road Initiative (BRI) would prove to be a catalyst for bringing about changes in the shaping of a world with peace and shared prosperity in addition to boosting collaboration among the regional nations.
He hoped that the G7 countries would explore more such initiatives, but “not in spirit of competition but in spirit of collaboration,” and he urged other nations to follow suit by concentrating on their common objectives of ending global poverty and achieving sustainable development.
Asserting that Pakistan shared the goals of its all-weather ally, he also praised the Global Security Initiative, Global Development Initiative, and Global Culture Initiative put forth by Chinese President Xi Jinping.
The Global Development Initiative was introduced by President Xi during the 76th UN General Assembly in September 2021. He proposed the Global Security Initiative at the BFA the year before, and this year’s BFA attendees almost unanimously agreed that it was “the need of the hour.”
Iqbal noted that the BRI project has significantly aided nations in improving their economic and security circumstances, and he argued that emerging nations should take a cue from China’s experience in order to strive for and guarantee political stability along with continuity of policies.
In response to China’s multitrillion-dollar Belt and Road initiative, the United States is aiming to gather $200 billion in private and public monies over the course of five years to support essential infrastructure in poor nations. He made these remarks regarding the G7 initiative at the same time.
G7 leaders formally established the “Partnership for Global Infrastructure and Investment” after growing increasingly concerned about China’s economic development and political influence.
“As the first step in settling disputes, we must encourage and enable diplomatic conversation and negotiations, which also involves expanding the role of international organizations like the United Nations in conflict-resolution and peacekeeping activities.”
He lamented the UN’s diminished involvement in conflict resolution over the previous two decades and emphasized the importance of multilateral collaboration for enhancing the UN’s ability to fulfill the objectives outlined in its charter.
The minister added that Pakistan supported greater UN democratization “but in a way that does not create further regional hegemons,” and he emphasized the need for the mechanism to adopt a participatory and inclusive approach whereby the collective wisdom of all sovereign nations is used to achieve the goals and address the underlying causes of conflicts.
