Chinese president’s Saudi visit to boost investment in China-Pakistan corridor project: Experts

Xi arrived in Riyadh on Wednesday for a three-day visit aimed at bolstering trade ties and expected to lead to a “strategic agreement” between the regional powers. (SPA)
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Updated 07 December 2022
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Chinese president’s Saudi visit to boost investment in China-Pakistan corridor project: Experts

  • Xi Jinping scheduled to meet other Arab leaders while visiting Kingdom
  • $65bn CPEC project an economic corridor in Pakistan connecting China to Arabian Sea

ISLAMABAD: Pakistan will benefit from stronger Saudi-China relations, experts said on Wednesday, as the visit of Chinese President Xi Jinping to the Kingdom was expected to bring in more investment to the China-Pakistan Economic Corridor project.

Xi arrived in Riyadh on Wednesday for a three-day visit aimed at bolstering trade ties and expected to lead to a “strategic agreement” between the regional powers.

The Chinese leader was due to meet Crown Prince Mohammed bin Salman and other heads of state from Gulf Arab nations when Saudi Arabia hosts China-Gulf and China-Arab summits in its capital.

Saudi Arabia and China were expected to sign more than 20 initial agreements worth more than $29.3 billion during Xi’s trip. The two countries were also discussing a plan to harmonize the implementation of Vision 2030 and China’s Belt and Road Initiative.

CPEC, a $65 billion economic corridor in Pakistan that connects China to the Arabian Sea and is part of Beijing’s infrastructure initiative, was also expected to feature in Xi’s meetings with the crown prince.

“Saudi Arabia is interested in becoming part of CPEC by investing heavily in it and also interested in BRI and this visit will improve things in this regard as China is the main initiator of both mega projects,” Pakistan’s former ambassador to China, Naghmana Hashmi, told Arab News.

Saudi Arabia, alongside the UAE and Germany, is among countries that have expressed interests in investing in CPEC. In 2019, the Kingdom announced plans to set up a $10 billion oil refinery in Pakistan’s deep-water port of Gwadar on the Arabian Sea.

CPEC is a sprawling package that includes everything from road construction and power plants to agriculture. In the South Asian nation, it has been billed as a massive development program that will bring new prosperity, where the average citizen lives on just $125 a month.

“The growing friendship between China and Saudi Arabia will benefit Pakistan as the country has very good relations with both, and both are pillars of strength for us,” Hashmi said.

International relations expert Zafar Jaspal told Arab News that the visit would have a “constructive and positive impact on CPEC” and “open the way for Saudi investment.”

Xi’s trip to Riyadh could serve as a “great convergence point” between Pakistan, China, and Saudi Arabia, according to Dr. Huma Baqai, an international relations expert and rector of the Millennium Institute of Technology and Entrepreneurship in Karachi.

“The visit can give the requisite push and momentum to the intended Saudi investment in the flagship project of the BRI,” she told Arab News.


Trump urges Iranian Kurds to attack Iran as war widens

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Trump urges Iranian Kurds to attack Iran as war widens

  • Azerbaijan preparing unspecified retaliatory measures on Thursday
  • The seven-day war has now seen Iran target Israel, the Gulf states, Cyprus, Turkiye and Azerbaijan, and spread to the Indian Ocean off Sri Lanka

DUBAI/WASHINGTON: US President Donald Trump encouraged Iranian Kurdish forces in Iraq to launch attacks against Iran as the Middle East conflict widened, with Azerbaijan warning it would retaliate for being targeted by Iranian missiles.
Israel on Friday said it had ​started a “broad-scale” wave of attacks against infrastructure targets in Tehran, as Gulf cities came under renewed bombardment by Iran.
The seven-day war has now seen Iran target Israel, the Gulf states, Cyprus, Turkiye and Azerbaijan, and spread to the Indian Ocean off Sri Lanka where a US submarine sank an Iranian naval ship.
On the possibility of the Iranian Kurdish forces entering Iran, Trump told Reuters on Thursday: “I think it’s wonderful that they want to do that, I’d be all for it.”
Two Iranian drone attacks targeted an Iranian opposition camp in Iraqi Kurdistan on Thursday, security sources said.
Iranian Kurdish militias have consulted with the United States in recent days about whether, and how, to attack Iran’s security forces in the western part of the country, according to three sources with knowledge of the matter.
The Iranian Kurdish coalition of groups based on the Iran-Iraq border in ‌the semi-autonomous region ‌of Iraqi Kurdistan has been training to mount such an attack in hopes of weakening the country’s ​military, ‌as ⁠the United ​States ⁠and Israel pound Iranian targets with bombs and missiles. Trump, speaking with Reuters in a telephone interview, also said the United States must have a role in deciding who will be the next leader of Iran after airstrikes killed Supreme Leader Ayatollah Ali Khamenei last week.
“We’re going to have to choose that person along with Iran. We’re going to have to choose that person,” he said.
US Defense Secretary Pete Hegseth said on Thursday that the US was not expanding its military objectives in Iran, despite what Trump said about choosing the country’s next leader.
“There’s no expansion in our objectives. We know exactly what we’re trying to achieve,” he said. The attack on Iran is a major political gamble for the Republican president, with opinion polls showing little support and ⁠Americans concerned about the rise in gasoline prices caused by disruption to energy supplies. Trump dismissed that ‌concern. Shares on Wall Street fell on Thursday, weighed by surging oil prices, as the ‌economic impact of the campaign intensified, with countries around the world cut off from a ​fifth of global supplies of oil and liquefied natural gas and ‌air transport still facing chaos and global logistics increasingly snarled.

Azerbaijan prepares to retaliate
Azerbaijan was preparing unspecified retaliatory measures on Thursday after it said ‌four Iranian drones crossed its border and injured four people in the Nakhchivan exclave.
“We will not tolerate this unprovoked act of terror and aggression against Azerbaijan,” President Ilham Aliyev told a meeting of his Security Council.
Iran, which has a significant Azeri minority, denied it targeted its neighbor.
Lebanon’s Iran-backed Hezbollah militia warned Israeli residents to evacuate towns within 5 km (3 miles) of the border between the countries in a message posted on its Telegram channel in Hebrew early on Friday.
“Your military’s ‌aggression against Lebanese sovereignty and safe citizens, the destruction of civilian infrastructure and the expulsion campaign it is carrying out will not go unchallenged,” Hezbollah said.

Us munitions full
Hegseth and Admiral Brad Cooper, who leads ⁠US forces in the Middle East, ⁠said during a briefing about operations that the US has enough munitions to continue its bombardment indefinitely.
“Iran is hoping that we cannot sustain this, which is a really bad miscalculation,” Hegseth told reporters at Central Command headquarters in Florida. “Our munitions are full up and our will is ironclad.”
The Pentagon earlier this week said the military campaign, known as Operation Epic Fury, is focused on destroying Iran’s offensive missiles, missile production and navy, while not allowing Tehran to have a nuclear weapon.
Cooper said the US had now hit at least 30 Iranian ships, including a large drone carrier that he said was the size of a World War Two aircraft carrier.
He added that B-2 bombers had in the past few hours dropped dozens of 2,000 penetrator bombs targeting deeply buried ballistic missile launchers, and that bombings were also targeting Iran’s missile production facilities.
Iran’s ballistic missile attacks had decreased by 90 percent since the first day of the war, while drone attacks had decreased by 83 percent in that time frame, he said. In Iran, at least 1,230 people have been killed, according to the Iranian Red Crescent Society, including 175 schoolgirls and staff killed at a primary ​school in Minab in the country’s south on the first day ​of the war. Another 77 have been killed in Lebanon, its Health Ministry says. Thousands fled southern Beirut on Thursday after Israel warned residents to leave.