Jokowi Optimistic About China's Belt And Road Initiative

China's Xi confident in the future of new 'Silk Road' effort

The summit is dedicated to Mr Xi's cornerstone economic diplomatic project, the Belt and Road Initiative.

Meanwhile, the Philippines has also welcomed the Border and Road initiative, saying that connectivity will be strengthened between Beijing and other Asian nations. Global Times editorial argues that Indian nationalism and negative views about China-Pakistan cooperation could act as a destructive power for regional peace.

Following India's boycott, Pakistan Prime Minister Nawaz Sharif, taking a veiled swipe at New Delhi's move, said the multi-billion dollar China-Pakistan Economic Corridor (CPEC) was an economic project open to all the nations in the region and it "must not be politicised".

She said: "China is already the world's most important trade economy".

Chinese President Xi Jinping said the leaders agreed that they would promote worldwide cooperation on the Belt and Road development and jointly tackle challenges facing the global economy.

Countries like India and the U.S. are sceptical of the project and view it as a geostrategic design.

Skirting any references to India's absence at the meeting, Xi had said, "All countries should respect each other's sovereignty, dignity and territorial integrity, each other's development paths and social systems, and each other's cores interests and major concerns". The US delegation was led by the Asia director of President Donald Trump's National Security Council.

Leaders from 29 countries are attending the forum, which China formally calls the scheme in English the Belt and Road initiative.

Meanwhile, China signed cooperation deals with 68 countries and worldwide organisations during the forum, The Straits Times reported.

The initiative stemmed from the common wish of all parties to promote the Belt and Road construction, Zhong said, adding that it reflects their shared aspiration to pursue integration, high-efficiency, win-win outcome and development, as well as action to boost trade growth, two-way investment and inclusive and sustainable development.

Last week, the article noted, "Nepal officially signed a deal with China to join the Belt and Road project, and the country is also reportedly in talks with Beijing to build a cross-border rail link that may cost up to $8 billion".

Katainen said more Europeans were demanding that China give EU businesses access to its market in the way that EU markets were open to Chinese investment.

Italy is willing to participate in cooperation under the Belt and Road framework, particularly in the field of infrastructure, and to strengthen collaboration with China in areas linked to economy, technology, agriculture, public health, education, culture, tourism as well as small- and medium-sized enterprises, he said. Furthermore an initial investment of US$ 40 billion is made to implement One Belt, One Road.

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