Expressing strong support to China on its Belt and Road Initiative, Pakistan Prime Minister Shahid Khaqan Abbasi on Wednesday said it is much more than just an infrastructure partnership and will go a long way in creating a shared future in a fractured world. "The Belt and Road Initiative (BRI) will benifit not only the region but the whole world for decades or probably millenniums to come", he said while addressing a news conference at World Economic Forum (WEF) in Davos on Thursday.
He said that the government is working for the bright future of the nation and stressed that democracy is getting strengthened in Pakistan day by day.
Prime Minister Abbasi is on a two-day visit to attend the event on the invitation of Swiss President Professor Klaus Schwab.
The BRI passes through 80 countries that generate 40 per cent of the global gross domestic product and account for 60pc of the world population.
The participants explored implications for regional collaboration and the expansion of clean infrastructure and offered their perspective on what the project would offer the world. Pakistan had achieved high economic growth with low inflation and it was a positive scenario augmenting greater investor confidence, he said, and added Pakistan had completed 1,700 kilometers of six-lane motorways under the CPEC, a target which many developed countries found hard to achieve. It has a capital of US$ 100 billion and Pakistan is one of the founding members of the bank.
The Prime Minister told that BRI is physical manifestation of the bonds between countries that existed through history. US-based infra consultancy major Aecom's Chairman Michael Burke said BRI is the largest infrastructure project seen in our lifetime and will have a big impact on the GDP of the region with free movement of goods and other benefits. "The world must acknowledge Pakistan's efforts and sacrifices in fight against terrorism", he said.
He said Singapore is closely working with the Chinese agencies for this project.
The speakers were of the view that the Belt and Road would help bridge the technological gap between the participating countries and would be sustainable.
Liqun said financial sustainability is key to the long- term success of the initiative.
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