Days ahead of Chinese President Xi Jinping’s preparation to hold Belt and Road Initiative (BRI) forum celebration which around 130 countries are expected to attend, External Affairs Minister S Jaishankar has targeted Beijing, warning about dangers of “hidden agendas”. He asked the countries in the Indian Ocean region to effectively address the development challenges as he warned them to be clear of dangers of “hidden agendas” in unviable projects or unsustainable debt. Jaishankar’s comments were in an apparent reference to China which is accused by the West and some other blocs of pursuing “debt trap” diplomacy.
Jaishankar made these observations while speaking at 23rd Council of Ministers Meeting of the Indian Ocean Rim Association (IORA) in Colombo on Wednesday. Jaishankar’s statement assumes significance as it has come just days ahead of Chinese President’s Xi Jinping’s preparations for the BRI gala in Beijing. Jaishankar also said that it is important to maintain the Indian Ocean as a free, open and inclusive space based on the UN Convention on the Law of the Seas (UNCLOs) as the Constitution of the Seas. EAM’s remarks also acquire importance in the context of China seeking to expand its footprints and influence in the Maldives after the election of pro-Beijing leader Mohamed Muizzu as President of the strategically important country.
“We should be equally clear where the dangers are, be it in hidden agendas, in unviable projects or in unsustainable debt. Exchange of experiences, sharing of best practices, greater awareness and deeper collaboration are part of the solutions,” he said, without naming any country. Jaishankar’s observations should be seen in the background of the development related to Hambantota port. This port was funded by a Chinese loan, and was leased to Beijing in a 99-year debt-for-equity swap in 2017 after Sri Lanka failed to pay off the debt. The development drew international concerns over China acquiring strategic assets far away from home by providing heavy loans and investment to smaller nations.
“There are global concerns over debt traps and regional hegemony by Beijing under BRI projects,” officials say. “BRI is China’s bid to expand its clout overseas,” officials added. Sources said that representatives from over 130 nations are likely to take part in the BRI event. Xi will deliver an opening speech and hold a welcoming banquet for foreign leaders. Russian President Vladimir Putin is also likely to attend the event. It is the third forum of its kind since China launched the investment initiative under BRI with events previously held in 2017 and 2019.
This is going to be the third Belt and Road Forum next week. The conference in Beijing will take place October 17-18. It marks the 10th anniversary of the Belt and Road Initiative (BRI) championed by Xi, with representatives from many developing countries, notably from Latin America and Africa, expected to attend, said Chinese foreign ministry spokesperson. Putin attended the two previous forums, in 2017 and 2019, and the Kremlin said in September he had accepted an invitation to the forum and for talks with Xi.
The BRI is a plan for global infrastructure and energy networks that China launched a decade ago to connect Asia with Africa and Europe through land and maritime routes. China had signed Belt and Road cooperation documents with more than 150 countries and more than 30 international organizations, the foreign ministry of China said. Italy, the only Group of Seven country to sign up, has criticised the 2019 decision by a previous government to join the BRI scheme, with its foreign minister recently saying trade between Italy and China had not improved.