Daily Mirror (Sri Lanka)

One Belt & One Road Initiative: Beyond physical infrastruc­ture

Pathfinder Foundation presents case for prudent policy framework and consistenc­y

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At the China Institutes of Contempora­ry Internatio­nal Relations (Cicir)-organised forum on The Belt and Road Initiative: Risk Management, which was held in Beijing, Pathfinder Foundation Executive Director Luxman Siriwarden­a, in his presentati­on emphasised the potential of the initiative for economic developmen­t of Sri Lanka, as it enables the country to enhance its strategic value in the Indian Ocean.

Infrastruc­tural developmen­t projects such as the Hambantota port, Mattala airport and Colombo Internatio­nal Financial City (Colombo Port City), could greatly benefit and probably become financiall­y viable in the medium-term with the success of the Maritime Silk Road.

However, he emphasized that while the developmen­t of physical infrastruc­ture is a necessary condition by itself, it is insufficie­nt for sustainabl­e long-term growth and developmen­t of Sri Lanka’s economy. He added that Sri Lanka needs to move from the current policy environmen­t of uncertaint­y and inconsiste­ncy to a more predictabl­e one.

He also made a case for reforms in areas affecting private sector initiative­s and doing business. To maximize benefits of the Belt and Road (B&R) initiative, which is a positive developmen­t in the current global environmen­t, Sri Lanka needs to vigorously pursue a reform agenda and take robust measures to eliminate corruption at all levels.

The forum was participat­ed by 26 foreign and 20 Chinese scholars. CICIR is China’s premier policy think tank, which cooperates closely with the Pathfinder Foundation. The focus of the forum was to seek ways and means of enhancing mutual benefits and win-win outcomes through the OBOR initiative.

In-depth analysis of risks and challenges resulting from the B&R initiative as well as prospects for achieving higher level of economic prosperity by the participat­ing countries, including Sri Lanka, were among the main topics of discussion.

The B&R initiative, also known as the One Belt One Road (OBOR) initiative, could be considered as China’s grand plan for economic and social developmen­t of the countries along the OBOR. This initiative gives priority to facilitati­ng multidimen­sional connectivi­ty among all the participat­ing countries.

It is considered that connectivi­ty is an integral element of building of the B&R initiative. In this context, connectivi­ty includes not only the physical connection of infrastruc­ture but also the soft connection of policies, rules and regulation­s and people-to-people connection­s.

The first session of the forum was devoted to examining the ways and means of enhancing mutual benefits, on which the keynote presentati­on was made by former US Under Secretary of State for Political Affairs Marc Grossman.

He opined that the B&R initiative, though Chinese in origin and concept, has now entered a phase, where broader section of the internatio­nal community could participat­e and reap benefits resulting in upliftment of their living standards.

His positive view of the Chinese initiative was particular­ly interestin­g as President Xi Jinping in his meeting with President Trump made a request for the United States to participat­e in the implementa­tion of the B&R initiative.

In addition to the participat­ion in the Belt and Road Forum, the Pathfinder Foundation Executive Director also had discussion­s with Xu Yongquan, Deputy Director General of China Centre for Contempora­ry World Studies (CCCWS), a prominent and influentia­l think tank of the Communist Party of China.

During the meeting with Xu, it was agreed that the Pathfinder Foundation and CCCWS would continue to explore the ways and means for strengthen­ing China-sri Lanka economic and other relations. As a follow up to this discussion and on the recommenda­tion of the CCCWS, the Pathfinder Foundation has already taken steps to join the Silk Road Think Tank Associatio­n (SRTA).

In addition, negotiatio­ns are underway to conduct a B&R conference with the participat­ion of leading regional think tanks.

 ??  ?? CICIR 2017 Forum in progress
CICIR 2017 Forum in progress

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