BEIJING(INP): China-Pakistan economic corridor, a major and pilot project of Belt and Road Initiative unveiled three years ago has already delivered tangible results, contributing to regional and global economic recovery and creating momentum for long-term global economic growth.
CPEC also a step forward towards the implementation of Belt and Road initiative, reports Chinese media quoting official sources on Sunday.
While in Pakistan, infrastructure development is progressing rapidly thanks to the construction of the China-Pakistan economic corridor.
In April 2016, the reconstruction and upgrade work on the Pakistani section of the Karakoram Highway officially started. In May, construction of the Peshawar-Karachi Expressway (Sukkar-Multan section), the biggest transport infrastructure project under the China-Pakistan economic corridor, was officially launched.
Meanwhile, a 64 km stretch of the M4 highway connecting Shorkot to Khanewal in Pakistan’s Punjab province broke ground in August. It is Pakistan’s first highway project financed by the China-backed Asian Infrastructure Investment Bank.
The China-Pakistan economic corridor is regarded as he first chapter of the Belt and Road symphony. With the economic corridor at the center and the Gwadar Port, transport infrastructure, energy and industrial cooperation being the four key areas, a “1+4” cooperation structure is gradually taking shape.
Pakistani Prime Minister Nawaz Sharif has said on many occasions that the China-Pakistan economic corridor is a boon to the whole region and it will bring tangible benefits to the 3 billion people in China, Central Asia, South Asia and the Middle East.
Proposed by Chinese President Xi Jinping, the initiative mainly refers to the Silk Road Economic Belt that links China with Europe through Central and Western Asia by inland routes, and the 21st Century Maritime Silk Road connecting China with Southeast Asia, Africa and Europe by sea.
The initiative offers both a long-term development vision and real benefits in the near future.
The corridor is one of the six major international economic cooperation corridors under the Belt and Road Initiative.
