New Delhi: China on Tuesday expressed opposition to the QUAD Foreign Ministers’ Meeting held in New Delhi, saying cooperation among countries should contribute to “regional peace, stability and prosperity” and must not target any third party.
China Slams QUAD Meet in Delhi, Opposes ‘Bloc Confrontation’
Reacting to the meeting, Chinese spokesperson Mao Ning also criticised the formation of exclusive groupings and warned against bloc confrontation in the Indo-Pacific region.
"We have made our position clear more than once. We believe that state-to-state cooperation should be conducive to regional peace, stability, and prosperity, and should not target any third party. We do not support forming exclusive small blocs or bloc confrontation. Any cooperation should not harm the mutual trust between regional countries," the Chinese Foreign Ministry spokesperson Mao Ning told a news briefing as the Quad’s top diplomats met on Tuesday.
The Quad partners — India, the United States, Japan and Australia — have committed to mobilising up to USD 20 billion in government and private sector support to strengthen secure and resilient critical minerals supply chains across the Indo-Pacific region.
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Announcing the Quad Critical Minerals Initiative, the four countries said the partnership aims to accelerate the development of diversified and fair critical mineral markets critical for advanced technologies, economic growth and industrial resilience.
The Quad partners intend to work together through coordinated investment and economic policy tools to support mining, processing and recycling of critical minerals, while reducing supply chain vulnerabilities, according to the statement issued by Foreign Ministers.
Under the initiative, the countries plan to identify and support projects with a “Quad nexus,” including projects located in Quad nations, operated by Quad-based companies or supplying Quad markets.
The framework also envisages support through export credit agencies, development finance institutions and other public financing mechanisms such as guarantees, loans, equity participation, insurance, subsidies and commercial arrangements.
The partners also said they would explore new mechanisms to mobilise private capital and expand regional critical mineral supply chains.
On the regulatory front, the Quad countries aim to improve the overall environment for critical mineral development by sharing best practices related to permitting, licensing and regulatory processes. The framework also includes cooperation on geological mapping, resource assessment, technology development and capacity building.
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The Quad partners further stated that they would consider coordinated measures to address non-market policies and unfair trade practices affecting critical mineral supply chains.
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