Archives Economic development - Page 16 of 36 - New Eastern Outlook

Bangladeshi Prime Minister Sheikh Hasina’s recent visits first to India and then, two weeks later, to the PRC, the two leading Asian countries, constituted a very remarkable development in terms of the unfolding situation in the Indo-Pacific region as a whole.

The first phase of the China-Pakistan Economic Corridor (CPEC) – the flagship project of the Belt and Road Initiative (BRI), has been completed and the project has entered into its second phase. This phase provides great opportunities for Pakistan, China, Africa, the Gulf States, and the Central Asian countries to increase their mutual trade and connect with the rest of the world in a much more secure and efficient way, decreasing their trade cost and increasing security.

The head of the Indian government paid a two-day visit to Russia, during which the leaders of the two countries held purposeful talks, first at the residence of the Russian leader Novo-Ogarevo and then in the Kremlin. They discussed economic relations between the two countries, the opening of a new Indian consulate in Russia and issues related to the conflict in Ukraine. 15 documents and a number of memoranda were signed. In addition, Putin and Modi visited the Rosatom pavilion at VDNKh together.