Context:

• China prioritizes extending the China Myanmar Economic Corridor (CMEC) to Sri Lanka, signaling an intent to enhance the Belt and Road Initiative (BRI) project in South Asia.

What is the China Myanmar Economic Corridor?

• China-Myanmar Economic Corridor (CMEC), one of the six land corridors under BRI, gains prominence, replacing the stalled Bangladesh China India Myanmar (BCIM) corridor.
• India and Bhutan are the only countries in South Asia that have stayed out of the BRI.

Sri Lanka’s BRI Participation and Economic Contributions

• Sri Lanka, a BRI participant, expresses readiness to embark on the second phase of the initiative, expecting a more substantial economic contribution.

About Belt and Road Initiative:

• The BRI was launched by Chinese President Xi Jinping  in 2013.
• Objective: To connect Asia with Europe and Africa, through a network of railways, highways, ports, airports, and other infrastructure projects with the intent to promote trade, investment, and economic growth in participating countries.
• Principal components: The Silk Road Economic Belt and the Maritime Silk Road
• Geographic Corridors under BRI:
  • China Pakistan Economic Corridor (CPEC).
  • New Eurasian Land Bridge Economic Corridor.
  • China-Indochina Peninsula Economic Corridor.
  • China-Mongolia-Russia Economic Corridor.
  • China-Central Asia-West Asia Economic Corridor.
  • China-Myanmar Economic Corridor.
    • Since India refused to join BRI, the BCIM corridor has also stalled, and has been replaced by a later launched China-Myanmar Economic Corridor.

India’s Stand

• India strongly opposes China’s Belt and Road Initiative (BRI), particularly the China-Pakistan Economic Corridor (CPEC), because it passes through Pakistan-occupied Kashmir (PoK).
  • CPEC (China-Pakistan Economic Corridor) which connects Gwadar Port in Pakistan’s Baluchistan with China’s Xinjiang province is the flagship project of BRI.
• India’s main concern is that this project disregards its sovereignty and territorial integrity.

News Source: The Hindu