Foreign news
Xi Jinping highlights AIIB’s role in promoting shared development
Chinese President Xi Jinping on Tuesday called for making the Asian Infrastructure Investment Bank (AIIB) a new platform that promotes development for all its members and facilitates the building of a community with a shared future for mankind.
Xi made the remarks when addressing via video link the opening ceremony of the fifth annual meeting of the multilateral development bank.
He called on efforts to make the AIIB a new type of multilateral development bank that promotes development across the world, a new type of development platform progressing with the times, a new type of high-performance institution for international cooperation and a new paradigm of multilateral cooperation.
The AIIB, proposed by Xi in late 2013, was officially launched in January 2016.
“The initiative is designed to develop infrastructure and connectivity in Asia and deepen regional cooperation for shared development,” Xi said.
From the 57 founding members to today’s membership of 102 spanning the six continents of Asia, Europe, Africa, North America, South America and Oceania, the AIIB has grown from strength to strength and provided nearly 20 billion U.S. dollars in infrastructure investment to its members.
Xi noted that the AIIB set up a COVID-19 Crisis Recovery Facility this year to support its members in tackling the pandemic and reviving their economies, hailing it a “typical example of the AIIB’s power of action.”
“The global response to COVID-19 has made it clear that mankind rises and falls together in a community with a shared future,” he said. “Mutual support and cooperation in solidarity are the only way for mankind to overcome crises.”
The Chinese president called for efforts to “pursue more inclusive global governance, more effective multilateral institutions, and more robust regional cooperation” to address issues emerging in the course of economic globalization.
The AIIB should “stay open and inclusive” and “engage more development partners in cooperation,” Xi said, calling on the bank to promote regional economic integration and “help make economic globalization more open, inclusive, balanced and beneficial for all.”
Underscoring the importance of innovation, he said the AIIB should strive to enhance connectivity, promote green development, and boost technological advance.
“China will continue working with other members to support the AIIB and make it a success, and contribute more to the global response to risks and challenges and the pursuit of shared development,” Xi said.
(With input from Xinhua)
Foreign news
Pakistan Moves to Deepen Diplomatic, Economic Relations With Nigeria
The Government of the Islamic Republic of Pakistan has called for deeper diplomatic and economic ties with the Nigerian government to foster development for both countries.
Mr Rana Ihsaan, the Coordinator to the Prime Minister of Pakistan made the call in an interview with the News Agency of Nigeria (NAN) during his working vist to Nigeria on Wednesday in Abuja.
NAN reports that the visiting Coordinator held a closed-door meeting with Yusuf Tuggar, the Minister of Foreign Affairs.
After the meeting, he said that both both sides had agreed on deepening relations in the areas of trade and commerce, among others.
Ihsaan said that both countries must see the need to accelerate efforts towards a Bilateral Trade Agreement (BTA).
He said that Pakistan had already submitted a draft BTA and was awaiting Nigeria’s response.
According to him, discussions centered on easing visa processes, expanding educational exchanges, and strengthening Cooperation in sectors such as Minerals, Youth training, and Defence were highlighted.
Ihsaan said that Pakistan had already implemented visa-on-arrival for Nigerians at no cost, and urged Nigeria to reciprocate to enhance people-to-people ties.
He stressed the importance of high-level engagements between both nations, describing Nigeria and Pakistan as very similar countries with large populations, youthful demographics, and vast economic potentials.
“Deeper collaboration will unlock opportunities in trade, education and investment, while further solidifying long-standing diplomatic relations,” he said.
He said that aside from visiting the foriegn Minister and other top government officials in Nigeria, he was also in the country to attend the on-going West Africa Beauty Exhibition holding in Lagos.
He described the exhibition as one of the continent’s largest cosmetic fairs, adding that he led a delegation of 19 Pakistani business people exploring Nigeria’s estimated 10 million dollar beauty and cosmetics market.
Ihsaan said that Nigeria was a gateway to Africa, adding that Pakistani products, like cosmetics, Textiles, Pharmaceuticals, Food items and Sports goods were already gaining traction in the country.
He encouraged Pakistani exhibitors to establish offices, Warehouses and logistics partnerships to strengthen their foothold in the Nigerian market.
Ihsaan further addressed concerns from Nigerian businesses on the ease of doing business in Pakistan.
He said that the Trade Development Authority of Pakistan had been supporting Nigerian participants at major exhibitions to achieve the ease of doing business.
“The Special Investment Facilitation Council (SIFC) serves as a one-stop platform for Nigerians interested in investing in Pakistan,” he said
Culled from NAN
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