Chinese initiative termed unique in the field of infrastructure development

Addressing the Joint symposium conducted by the Institute of South Asian Studies (ISAS) of the National University of Singapore (NUS) on the Belt and Road Initiative, held in collaboration with the Pathfinder Foundation (PF), Senior Minister of State for Trade and Industry and Ministry of Culture, Community and Youth, Sim Annin her keynote address said that the Chinese initiative is unique in the contemporary world in the field of infrastructure development, transport, banking etc.

She said that Singapore as a nodal point in BRI will be ready to provide financial, legal and other professional services to countries that would join the Chinese mega venture. She explained that theChongqing Connectivity Initiative (CCI) is Singapore and China’s third joint project, after Suzhou Industrial Park and Tianjin Eco-City. The CCI aims to help drive growth in China’s less developed western region by improving Chongqing’s transport and services links to the region and beyond. 

The Southern Transport Corridor (STC) connecting the south-western city of Chongqing with Guangxi as well as Guizhou and Gansu provinces will cut current transport time between China and Singapore from 3 weeks to just one week.Launched during President Xi Jinping’s visit to Singapore November 2015, the CCI focuses on modern connectivity and services and is aimed at boosting growth in China’s western regions. Less than four months since its launch, the CCI hasgarnered 260 initiatives worth US$115 billion, according to “background information” booklet relating to Chongqing’s economy released early 2016.

The joint symposium was inaugurated by Chairman of ISAS Ambassador-at-Large Gopinath Pillai, Ministry of Foreign Affairs, Singapore. Stating that this was the first occasion Singapore conducted a symposium on the BRI and Singapore’s enthusiasm could be observed by the large attendance at the event, Chairman Pillai said that his institute was happy to disseminate information on BRI. He added that his institute would also study and discuss all international development initiatives, including the proposed Asia-Africa Growth Corridor, in addition to the BRI.

At the invitation of the PF, two academics from the Sichuan University of China, Prof. Dai Yonghong, Director for Myanmar Studies of the Institute of South Asian Studies, and Associate Professor Huang Yungson, Associate Dean of Sichuan University School of International Studies took part in the Symposium and made presentations on the China-Myanmar Economic Corridor and cyber security issues relating to the BRI. 

The day long symposium,held on January 29 in Singapore was attended by over 170 participants, discussed Politics, Potentials and Partnerships relating to the BRI. The broad areas that were discussed covered, ‘Understanding the Political and Security Issues’, ‘Regional Relevance of the BRI’ and ‘The BRI and Economic Potentials’ of the grand Chinese initiative that would see US$ one Trillion investment on infrastructure development and related projects that would embrace approximately 70 countries in Asia, Africa and Europe.

Bernard Goonetilleke, Chairman Pathfinder Foundation,in his introductory address welcomed the Guest of Honour Ms.Sim Ann emphasized the importance for participating countries to come up with projects that would provide reasonable return on investment and minimize negative consequences such as degradation of environment. He expressed the hope that both ISAS and PF would continue collaborating on the BRI and other issues of mutual interest in the future as well.

Luxman Siriwardena, Executive Director of Pathfinder Foundation and Director of China-Sri Lanka Cooperation Studies Centre said, while physical infrastructure developmentand connectivity improvement could be achieved through BRI, the fundamental requirement for sustainable development is the implementation of reforms in economic policy and institutions andensuring transparency and accountability in transactions. Therefore, he emphasized the need for advocating reforms in the process of implementing the BRI. Admiral Dr. Colombage analysed the geo-strategic concerns of the regional countries and pointed out that there is increased militarization and nuclearization of the Indian Ocean Region (IOR) and an unofficial cold-war is developing in the region, which is detrimental to the progress of the states in the IOR. Admiral elaborated the need to develop regional solutions to regional problems and need for increased collaboration to develop a regional maritime security architecture. He referred to the Indian Ocean as a Zone of Peace initiative mooted by Sri Lanka in 1971 and the relevance of the conditions in the region even in the current context.