Latest news with #BRI
Time Business News
7 hours ago
- Business
- Time Business News
New Diplomatic Chapter Begins: China, Pakistan, Bangladesh Launch First Trilateral Ministerial Dialogue
In a landmark diplomatic development, the foreign secretaries of China, Pakistan, and Bangladesh convened in Kunming, Yunnan Province on June 19–20 for the first-ever trilateral ministerial dialogue . This strategic meeting marked the formal initiation of a three-way framework to deepen cooperation in blue economy, climate change resilience, trade, connectivity, and regional peacebuilding. The Chinese delegation was led by Vice Foreign Minister Sun Weidong, while Bangladesh was represented by Foreign Secretary Ruhul Alam Siddique. Pakistan was represented by Additional Secretary for Asia-Pacific Affairs Imran Ahmed Siddiqui with Foreign Secretary Amna Baloch joining virtually in the initial session. In a joint statement, all three parties reaffirmed their commitment to fostering a 'good-neighborly, equal, and inclusive partnership' aimed at common development, sustainable growth, and mutual prosperity across South and East Asia. Maritime Economy: Emphasis on sustainable fisheries, port development, shipping collaboration, and blue economy innovation. Emphasis on sustainable fisheries, port development, shipping collaboration, and blue economy innovation. Climate Cooperation: Joint efforts on flood management, renewable energy research, carbon emission control, and coastal resilience building. Joint efforts on flood management, renewable energy research, carbon emission control, and coastal resilience building. Trade and Connectivity: Expansion of regional value chains, cross-border e-commerce platforms, and infrastructure under the Belt and Road Initiative (BRI). Expansion of regional value chains, cross-border e-commerce platforms, and infrastructure under the Belt and Road Initiative (BRI). Youth & Education: Scholarships, student exchanges, and trilateral think-tank networks to promote knowledge sharing. Scholarships, student exchanges, and trilateral think-tank networks to promote knowledge sharing. Health and Agriculture: Development of food safety standards, public health cooperation, and green farming initiatives. To ensure the implementation of these objectives, a dedicated Working Group is set to be formed, responsible for overseeing action plans and facilitating ongoing cooperation. Analysts interpret this trilateral initiative as a reflection of shifting power dynamics in Asia. The framework aligns with China's vision of regional integration through its Belt and Road Initiative, while also offering Bangladesh and Pakistan a platform for mutual development without being caught in regional rivalries. Importantly, all three sides reiterated that this cooperation is 'non-exclusive and not aimed against any third party,' signaling a desire to maintain strategic neutrality while enhancing regional diplomacy. The Kunming dialogue represents more than just a diplomatic gathering — it signals the beginning of a new trilateral era where shared challenges like climate change, maritime instability, and development disparities are addressed collectively. As the working group moves forward, observers are keen to see how these nations translate dialogue into durable policy frameworks. For Bangladesh, this platform opens doors to both regional influence and economic opportunity, particularly in the maritime and climate sectors, where cooperation is both urgent and essential. Source: Ministry of Foreign Affairs (China), The Economic Times, Business Standard, Anadolu Agency TIME BUSINESS NEWS
Korea Herald
2 days ago
- Business
- Korea Herald
BRI Named Indonesia's Largest Public Company in the Forbes Global 2000 List for 2025
JAKARTA, Indonesia, June 19, 2025 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk, (IDX: BBRI), has once again achieved an international milestone by securing the 349th position among the world's 2,000 largest public companies in the Forbes Global 2000 – The World's Largest Companies list for 2025. This achievement positions BRI as the highest-ranked public company from Indonesia on Forbes' prestigious list. The Forbes Global 2000 is an annual ranking, now in its 23rd year. Forbes compiles the list based on four key metrics: sales, profit, assets, and market value. According to Forbes' official publication, despite ongoing global geopolitical uncertainties and the impact of U.S. tariff policies, all four indicators have reached new records this year. The 2,000 companies on the 2025 Global 2000 list represent total annual revenues of USD 52.9 trillion, profits of USD 4.9 trillion, assets of USD 242.2 trillion, and a combined market capitalization of USD 91.3 trillion. According to the report, BRI recorded strong performance with revenue of USD 16.07 billion, profit of USD 3.8 billion, assets totaling USD 123.83 billion, and a market value of USD 33.48 billion, further solidifying its position on the global stage. This reflects BRI's consistency and strong competitiveness as a financial institution that continues to grow and transform internationally. Commenting on BRI's recognition as the No. 1 public company in Indonesia on the Forbes Global 2000 list for 2025, BRI President Director Hery Gunardi expressed his pride and appreciation for all BRILiaN personnel (BRI employees), as well as BRI's loyal customers. "This achievement is dedicated to all BRILiaN personnel who have given their best contributions, allowing BRI to grow sustainably. We also extend our gratitude to all our loyal customers who continue to use and enjoy BRI's products and services," said Hery Gunardi. He added that the recognition is solid proof of BRI's commitment to maintaining strong fundamentals amid increasingly complex global economic challenges. "This recognition inspires us to continue transforming and innovating to deliver world-class services, especially for the Indonesian people," he said. According to Forbes, BRI ranks 349 globally and first in Indonesia on the 2025 Global 2000 list, alongside 11 other Indonesian companies such as Bank Mandiri (408), BCA (482), Telkom Indonesia (1,003), and BNI (1,064), among others.
Newsroom
2 days ago
- Business
- Newsroom
Confusion as NZ becomes midpoint on China route to South America
China Eastern Airlines and Auckland Airport have announced the much-discussed Southern Link to South America will open by the end of the year, with the NZ Government helping with a new electronic transit authority in place of pricey visas. The Government backs the Southern Link as part of its effort to grow the number of Chinese tourists coming to New Zealand, with the new route expected to bring an additional $48 million in annual visitor spending. 'This new connection to Auckland between the dynamic economies of Asia and South America, is a great step forward and will support a more resilient and diverse aviation network that benefits travellers, trade, and tourism,' Prime Minister Christopher Luxon said. This Southern Link, which connects China and South America – via New Zealand – has long been discussed, being championed by the New Zealand China Council, among others. But even as recently as March the Government said it had no plans to advance the idea of making New Zealand an air and maritime transport hub between these regions. At the time, Trade Minister Todd McClay said the idea was not on the Government's agenda. 'It's not something we've been considering, but I know that the Mayor of Auckland, [Wayne] Brown, is a big fan of it,' McClay told The Post. Meanwhile, Christopher Luxon said it was up to airlines to make it work on their own. And it seems that now they have, with state-owned China Eastern committing to two flights a week from Shanghai to Buenos Aires, via Auckland, starting in December. While some were already hailing the benefits of the long-mooted link, others were warning of the potential dangers of New Zealand facilitating the connection. The idea of this link has long courted controversy in New Zealand because of the part it plays in China's Belt and Road Initiative – a global economic and infrastructure expansion plan. And while New Zealand has not shifted from its vague, quiet position on the Chinese Communist Party's plan, China sees things differently. During the announcement, China Eastern Airlines Chairman Wang Zhiqing said, 'we will be committed to … mutual exchanges and high-quality Belt and Road initiatives'. A spokesperson for the Ministry of Foreign Affairs and Trade said the foreign policy position on Belt and Road was unchanged. 'The New Zealand Government is not developing BRI initiatives.' NZ is somewhere at the top of the world in this Trip-com presentation to PM Luxon in Shanghai. Photo: Laura Walters The ministry spokesperson did not respond to questions about why China might be referring to the Southern Link in the context of the BRI or any response to concerns raised about the hub's potential for dual use. 'We welcome expanded air connections between China, NZ and South America. 'This is a commercial deal between Auckland Airport and China Eastern.' If China is to be believed, the Southern Link is the latest to join a long list of Belt and Road projects with New Zealand, irrespective of NZ's stance. Beyond the Southern Link, the Asian superpower has claimed to have signed a whole swathe of Belt and Road Initiative agreements with Auckland Council. But when Newsroom spoke to Auckland Council about these claims last year, it said no such thing had happened. In 2019, the China Daily newspaper even claimed a Belt and Road Initiative had 'revitalised' a small Waikato town, after a Chinese food company set up an ice cream factory in the small Waikato town of Kerepehi. As far as records show, New Zealand does have one official Belt and Road agreement, in the form of a joint kiwifruit laboratory between Crown research institute Plant & Food Research and Chinese scientists in Sichuan province. The China-New Zealand Kiwi 'Belt and Road' Joint Laboratory isn't called that in New Zealand, but the name was upgraded in China in 2018, giving the lab local status and access to funds. Last year, University of Canterbury China expert Professor Anne-Marie Brady said though New Zealand had stopped progressing work on the Belt and Road Initiative, Mfat's language on the controversial united front strategy was purposefully vague. It allowed the Government to say nothing and do nothing, rather than openly reject the initiative and risk upsetting China. But in a submission to Parliament's Justice select committee on foreign interference in elections, Brady recommended New Zealand take a more explicit stance on the BRI. 'The continuance of the current policy of 'saying but not doing' is causing confusion and risks local governments acting against national interests. The MoA signed with China is simply an agreement to discuss, and nothing more.' In March 2017, the National government signed a 'memorandum of arrangement' with Chinese premier Li Keqiang outlining a proposal for the two countries to work together on the BRI. Launched by President Xi Jinping in 2013, the trillion-dollar initiative was then focused on developing Chinese-led infrastructure projects and other economic initiatives around the world, on ancient land and sea routes which formed part of the Silk Road. The agreement required the two countries to develop a Belt and Road work plan within 18 months of its signing, but the plans slowed when the Labour-led government took power at the end of 2017, as foreign affairs minister Winston Peters shared his reservations about the project. The agreement auto-renewed in March 2022 for a period of five years. But New Zealand was not pursuing any projects, or raising the BRI in discussions with Chinese counterparts. Brady was among a group of China experts warning against the Belt and Road expansionary plan, including the Southern Link. In a foreign policy paper published this year, Brady warned of the capability for dual-use of these types of hubs in the Pacific. 'Control over Pacific ports, airstrips, and ICT systems could serve dual-use purposes, enabling transit, logistics, and expanded influence in the US backyard,' she said, adding that as China turned its attention to the global south it was increasingly bringing countries in Latin America and the Pacific into the Belt and Road Initiative. China has actively promoted this Southern Link strategy, trying to influence public opinion in host countries, like New Zealand. But former head of the NZ China Council and executive director of the NZ International Business Forum Stephen Jacobi said this had little bearing on Southern Link which was purely an economic and commercial proposition. Jacobi, who was a long-time proponent of the link said he was delighted to see the news. It was clear that to make it work the parties needed to find an airline that would step up and establish some flexibility on transit visas. Off the back of stronger airline connections, other parties could now work to build an airfreight and transhipment hub, which would bring additional benefits, he said. Whether this route would be sustainable could now be tested, Jacobi said, adding there was ample (and growing) traffic between Latin America and China to make it work. From the perspective of the bilateral relationship, it was important New Zealand continued to build links and connections beyond trade. 'If we simply regard China as a market to sell things to, we make ourselves even more vulnerable to geo-political and geo-economic shifts.' If the Government was really serious about 'going for growth' New Zealand needed to pursue the opportunities that came as the relationship deepened. The announcement of the Southern Link route, as well as the Government's decision to do away with the $235 transit visa, were two of a series of announcements, deal signings and events geared towards lifting tourism back to pre-Covid levels. There were 245,000 visitor arrivals from China in the year to February, making it New Zealand's third-largest tourism market. But things still hadn't bounced back to where they were before the pandemic. Luxon even named getting 'share of mind' in the international education and tourism markets as the key objectives of this trip. Before the Prime Minister touched down in China he announced a new 'Parent Boost' visa that would allow family members a five-year, multi-trip visa. On the eve of the trip, the Government announced a visa waiver trial for Chinese passport holders visiting from Australia. But it's not the full visitor visa waiver China wanted, as China had granted New Zealand. The issue would no doubt be raised again by political leaders later in the week, but vice president Edison Chen beat them to it by raising that visa waiver to the Prime Minister (again). Luxon laughed it off, saying he appreciated the pitch. But Luxon found himself talking in code during the subsequent media conference, just saying he was 'comfortable' with Immigration NZ's decisions when he was repeatedly pushed on why the Government stopped short of granting a full visitor visa waiver. Newsroom understands the risk profile of Chinese travellers had a part to play, but neither the Prime Minister nor his ministers could say that without offending China. Luxon pushed back at the focus on the visa waiver issue, saying lifting tourist numbers was largely about growing share of mind. 'I just think you actually need to think through how do you actually build markets, and how do you grow businesses? And a lot of it, when you're in 195 other countries in a competitive race, it's about: how do you lift the profile of New Zealand?'
Barnama
3 days ago
- Business
- Barnama
CGTN: China, Central Asia Seal Landmark Treaty At Astana Summit
KUALA LUMPUR, June 18 (Bernama) -- China Global Television Network (CGTN) has reported that the second China-Central Asia Summit, held recently in Astana, Kazakhstan, marked a significant step in strengthening ties between China and the five Central Asian nations. According to CGTN in a statement, the event was notable for being the first summit of its kind hosted in a Central Asian country. A key outcome of the summit was the signing of the Treaty of Permanent Good-Neighborliness and Friendly Cooperation, a landmark agreement aimed at codifying lasting friendship and mutual support among the six participating nations — China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Chinese President Xi Jinping, in his keynote address, described the treaty as both "a milestone for today and a foundation for tomorrow." CGTN emphasised the importance of what Xi termed the "China-Central Asia Spirit", which promotes mutual respect, trust, benefit, and assistance in pursuit of shared modernisation goals. The summit also reaffirmed the biennial format of the China-Central Asia mechanism, first launched at the inaugural summit in Xi'an in 2023. According to a CGTN poll, 90 per cent of respondents believe the mechanism focuses not on competition but on long-term stability, development, and cooperation. The report also noted that China has established comprehensive strategic partnerships and signed Belt and Road Initiative (BRI) cooperation documents with all five Central Asian nations. The summit reinforced the role of the BRI in driving economic collaboration. Xi called for enhanced practical cooperation in areas such as trade, connectivity, agriculture, and green mining. China also pledged to establish three new cooperation centres for poverty reduction, education exchange, and desertification prevention, as well as a trade facilitation platform. The summit, CGTN concluded, reflects the deepening of high-level strategic trust and shared commitment to building a community with a shared future, underpinned by the high-quality development of the BRI.
Business Recorder
6 days ago
- Business
- Business Recorder
China's strategic ascent and future of regional power play
The recent trilateral meeting of the foreign ministers of China, Pakistan, and Afghanistan in Beijing represents more than a routine diplomatic engagement—it signals a strategic recalibration in the evolving architecture of regional connectivity and cooperation. While not a summit in the formal sense, the high-level dialogue underscores the increasing importance of regional mechanisms in fostering peace, economic integration, and mutual security. While the meeting's immediate focus was on regional development and stability, it also fits within a broader context where global powers are redefining their roles. China's expanding engagement in regional diplomacy—anchored in initiatives such as the Belt and Road Initiative (BRI)—reflects its aspirations to strengthen development-led connectivity while promoting economic resilience across Asia and beyond. A centerpiece of China's regional outreach remains the China-Pakistan Economic Corridor (CPEC), initially envisioned as a bilateral economic partnership. Today, it plays a broader role in enabling regional trade and economic interlinkages. For China, such overland corridors offer viable alternatives to maritime routes, especially in an evolving global environment where supply chains are becoming increasingly complex. Afghanistan's participation in this dialogue signals its continued relevance to the regional connectivity vision. China's constructive engagement with Kabul—focused on infrastructure development, mineral resources, and regional security—reflects a shared desire to integrate Afghanistan into broader development frameworks, thereby contributing to long-term peace and economic opportunity. The idea of expanding connectivity from China's Xinjiang region through Kyrgyzstan and Afghanistan to Central Asia is becoming more tangible. In light of shifting global trade patterns and regional realignments, land-based corridors provide a resilient alternative for economic cooperation among Eurasian nations. Beyond infrastructure, the meeting highlighted China's evolving diplomatic posture. By hosting such multilateral discussions, Beijing positions itself as a facilitator of peace and cooperation. This evolution from a traditionally reserved foreign policy to one of proactive engagement reflects China's growing role as a key regional and global stakeholder. Meanwhile, broader geopolitical developments continue to influence regional alignments. As international frameworks adjust to strategic competition among major powers, the importance of maintaining dialogue, fostering mutual respect, and supporting peaceful coexistence becomes increasingly vital. Both the United States through initiatives like the QUAD and China via the BRI are advancing development-focused approaches to regional stability. These efforts, while different in form, share an interest in peaceful progress. Pakistan and Afghanistan, located at the crossroads of major connectivity routes, stand to gain significantly from such frameworks. For Pakistan, deeper economic ties under CPEC represent both opportunity and regional relevance. For Afghanistan, participation in transnational infrastructure projects may support its long-term development and international reintegration. For China, a stable and cooperative neighborhood enhances the sustainability of its initiatives. The trilateral meeting in Beijing should be viewed not as a contest of influence, but as an opportunity for constructive collaboration. As regional stakeholders work together, prioritizing transparency, inclusivity, and mutual benefit will be essential to ensuring that strategic ambitions translate into lasting peace and prosperity. In a world increasingly shaped by shared challenges and interconnected destinies, initiatives that bring nations together through dialogue and development are vital. The recent trilateral engagement may serve as an important step toward a cooperative and peaceful regional future—one built on trust, connectivity, and common purpose. Copyright Business Recorder, 2025
