The China-Pakistan Economic Corridor (CPEC) has played a vital role in the future economic development of Pakistan, with the Gwadar port as the main component. The CPEC is one of the most important flagship projects of the five corridors launched under Belt and Road Initiative. Half of its projects have already been executed. Under the first phase of the CPEC, several major energy project including hydro, wind and solar projects were executed. China-Pakistan relationship is unshakable and the relationship between the two countries remains constant, no matter which government has been in Pakistan or China, no matter how the international political landscape changes. Pakistan and China have reviewed continued implementation of the China Pakistan Economic Corridor (CPEC) and its expansion to jointly agreed priority areas.
Review was made during the 3rd meeting of the CPEC Joint Working Group (JWG) on International Cooperation and Coordination (JWG-ICC) held in the virtual mode. It is the manifesting the historic choice of the countries and peoples, the vitality and dynamism of CPEC reflected the deep-seated mutual goodwill that lay at the heart of the bilateral relationship.
The second component of the CPEC is infrastructure, highways, waterways and bridges which have been built across Pakistan, improving the communication and road infrastructure. The important part of physical infrastructure was laying the fiber optic link from Chinese border to Pakistan to help the communication network. The third important component of the first phase was the Gwadar port which is almost complete and functional.
The other infrastructure projects like recently inaugurated East Bay Express were inaugurated and the work was under progress on International Airport and many of the allied infrastructure industry. A large number of Chinese companies are setting their businesses in special Economic Zone being set up in Gwadar. The country is entering into phase two which is even more important and focused on industrialization, agriculture, social well-being of the people, poverty alleviation and green economy.
Under Green Corridor, Pakistan is focusing on the agriculture and food security, and in digital corridor, we are benefiting from China’s experience and expertise in the IT sector and industry. The government is developing special economic zones and encouraging relocation of Chinese industries to Pakistan not only to help the domestic market, but also to the region and exporting to other countries. The CPEC is a broad framework of economic development for Pakistan and also for the region.
Not both the countries have agreed that CPEC’s development had reached a new point, with increasing emphasis on high-quality development of industry, agriculture, IT, and science and technology, while ensuring tangible socio-economic benefits for the people. It was further noted that as a flagship of the Belt and Road Initiative, CPEC had broken new ground in strengthening international and regional connectivity, especially in the context of its extension to Afghanistan. As an open and inclusive platform, both sides welcomed interested third parties to benefit from avenues for mutually beneficial cooperation opened up by CPEC. The two sides also agreed to support and encourage the media and think tanks to highlight CPEC’s contributions as a high-impact case study of international cooperation for sustainable development.
