India is expected to abstain from attending China’s third summit associated with President Xi Jinping’s renowned Belt and Road Initiative (BRI). Beijing has officially declared that this summit will convene on October 17 in the Chinese capital.
Russian President Vladimir Putin is anticipated to grace the Belt and Road Forum (BRF) in Beijing, marking his presence for the third time after attending the previous summits in 2017 and 2019. Reports from Sri Lankan media indicate that Sri Lankan President Ranil Wickremesinghe is also likely to participate, alongside various leaders from Asian, African, and Latin American nations. Indonesian President Joko Widodo’s attendance is also on the horizon.
India had refrained from partaking in the 2017 and 2019 summits, citing concerns regarding the BRI, particularly its objections to the flagship China Pakistan Economic Corridor (CPEC) project that traverses through Pakistan-occupied Kashmir.
As the BRI celebrates its 10th anniversary, China has responded assertively to criticisms of the initiative, especially concerning the debt incurred by participating countries. Simultaneously, Beijing appears to be reassessing the direction of the BRI and has scaled back its investments. Recent reports, based on minutes from a China-Pakistan meeting, reveal that Beijing has declined new project requests in Pakistan, purportedly due to enduring security concerns in the region, even after more than a decade of the CPEC’s existence.
Li Kexin, Director-General of the Chinese Foreign Ministry’s Department of International Economic Affairs, reported that over 130 countries have already confirmed their attendance at the BRF, commencing with President Xi’s address. Li emphasized that more than 150 nations have signed up for the BRI, asserting that “the circle of friends has grown larger and larger, which fully proves that the initiative does not seek to form any closed and narrow circles.”
According to data released by China’s Ministry of Commerce this week, total investments in the BRI between 2013 and 2022 have reached $380 billion.
It is anticipated that several agreements will be signed on the sidelines of the BRF. Sri Lankan media has speculated about potential additional investments in the Colombo Port City project during President Wickremesinghe’s visit.
Last month, Nepal agreed to advance cross-border connectivity projects with China during Prime Minister Pushpa Kamal Dahal Prachanda’s visit to Beijing. Both sides reached an agreement to enhance connectivity, encompassing areas such as ports, roads, railways, airways, and grids, while collectively constructing the Trans-Himalayan Multi-Dimensional Connectivity Network, a cross-border initiative under the BRI.
