Chinese President Xi Jinping pledged $124 billion on Sunday for his new Silk Road plan to forge a path of peace, inclusiveness and free trade, and called for the abandonment of old models based on rivalry and diplomatic power games.
Prime Minister Nawaz Sharif delivers a speech at the One Belt-One Road Forum in Beijing on May 14, 2017.
He said the basic point of the outcome document is "really to further promote globalization and to further enhance connectivity between East Asia, mainland Asia, Central South Asia, Middle East, all the way to Europe". The Chinese president added that he also wants it to be a "road to prosperity", focusing on cooperation and production that would aim to maintain a dynamic growth.
Xi said his government also would provide aid worth 60 billion yuan ($8.7 billion) to developing countries and global organizations.
He said China will launch Belt and Road cooperation initiative on trade connectivity together with some sixty countries and worldwide organizations.
Sharif said the Belt and Road "rejected the encirclement for any country. These ancient silk routes opened windows of friendly engagement among nations, adding a splendid chapter to the history of human progress", he disclosed.
"We see much merit in the Belt and Road Initiative, we see opportunities for collaboration, but we take decisions about initiatives in Australia on the basis of what is Australia's national interest".
"We should foster a new type of worldwide relationsfeaturing win-win cooperation; we should forge partnerships ofdialogue with no confrontation and of friendship, rather thanalliance", he said.
There was no word from Malacañang yet as to why Duterte skipped the opening ceremony at the China National Convention Center in the Beijing Olympic Park.
A total of 29 foreign heads of state and government leaders attended the forum, including Russian President Vladimir Putin.
He invited the Vietnamese president to visit Pakistan which he accepted. It includes the ambassador to China, Samih Johar Hayat, members of the Supreme Council for Planning and Development and other ranking officials from various departments.
One Belt One Road has $US1.3 trillion ($A1.8 trillion) worth of projects already in the pipeline.
Other delegates included officials, entrepreneurs andfinanciers from more than 130 countries, and representativesof key worldwide organisations such as UN SecretaryGeneral Antonio Guterres, World Bank President Jim Yong Kim, and global Monetary Fund Director Christine Lagarde.
President Recep Tayyip Erdoğan's attendance demonstrates the importance Turkey attaches to this project.
The Belt and Road Initiative, dubbed as the beginning of a new age of globalization, is a multibillion-dollar infrastructure campaign of Chinese President Xi Jinping aimed at transforming large areas of Asia into economic zones and trading routes.
Meanwhile, New Zealand is already on board with One Belt One Road and the country's Innovation Minister Paul Goldsmith is attending.
The web of trade would span over countries representing more than 40 percent of the world's GDP, that are home to 4.4 billion people - more than half of the world's population - giving it a potential to affect global trade patterns.