Latvia becomes first Baltic Sea country to link with China’s OBOR
Posted on:07 Nov 2016 09:36:20
07 November 2016 Current Affairs GK: Latvia has become the first country in the Baltic Sea area to sign a Memorandum of Understanding to link up with China’s One Belt and One Road (OBOR) Initiative.
The MoU was signed after Chinese Premier Li Keqiang’s meeting with his Latvian counterpart Maris Kucinskis in Riga (capital of Latvia).
It was Chinese Premier’s first visit to the European Union country. Besides, Latvia and China also singed five agreements on cooperation in such areas as small and medium-sized enterprises, transportation and logistics.
OBOR initiative is China’s ambitious development strategy and framework that aims to boost its connectivity and trade across Asia, Africa and Europe. It comprises two components viz. the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
It was proposed by Chinese President Xi Jinping in 2013. OBOR initiative is part of China’s revived 21st century Silk Road diplomacy that seeks to push it to take a bigger role in global affairs as a major global power.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2017 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail