- China has unveiled details of its Indian Ocean focused initiative “maritime Silk Road” plan which was announced last year and for which 3 billion Yuan (around $500 million) maritime cooperation fund was set up. Details include:
- Prioritize building ports and bettering infrastructure in countries like Pakistan, Bangladesh and Sri Lanka that fall in the route.
- Coordinate customs, quality supervision, e-commerce and other agencies to facilitate the scheme.
- Establish free trade zones in Indian Ocean countries.
- China’s southern provinces of Yunnan — which borders Myanmar and is part of the plan to build a Bangladesh-China-India-Myanmar (BCIM) corridor — and Guangxi Zhuang may be entrusted to execute the plan. China is also involved in port projects in Gwadar, Hambantota and Chittagong.
- The move will strengthen China’s economic and maritime hold in the Indian Ocean Region (IOR) especially in India’s neighborhood.
- It is also seen as a strategy to mitigate anxieties regarding China’s increasing military and naval presence; and is considered a response to the “string of pearls” theory which suggests that China is looking to build military bases in littoral countries from Pakistan, Burma and Sri Lanka.
- Read at: http://www.thehindu.com/todays-paper/tp-international/chinas-maritime-silk-road-to-focus-on-infrastructure/article5929917.ece
Exams Perspective:
- Bangladesh-China-India-Myanmar (BCIM) corridor
- Indian Ocean Region (IOR)
- “String of Pearls” theory
- India China Bilateral Relations
- Maritime Silk Route
- Bluewater Navy