The China Pakistan Economic Corridor is a coalition of multiple global, regional, mutual and domestic developments. The ultimate purpose is harmony, prosperity, and well-being of the two countries, the region and the world. The global economic landscape has shifted dramatically. The leading operators of this change have been technology, free capital movements, trade liberalization, advances in communication and transportation infrastructure, and the creation of cross border supply chains.
Both the Pakistan & China Governments have made a deliberate attempt to focus on developing the economic dimension of the relationship and bring it up to a level with the excellent cooperation between the two countries at the diplomatic and political level. This purpose towards improving economic and trade cooperation has increased intensity since the near-simultaneous change of leadership in China and Pakistan. The new Governments in both countries have signalled their dedication to growing Pakistan-China relations very early in their terms of office.
China-Pakistan Economic Corridor (CPEC) Pakistan’s Vision 2025 seeks to position itself from a lower middle-income country to a high middle-income country by reaching the target per capita GDP of $4200.
The China-Pakistan Economic Corridor, a flagship project of the Belt and Road Initiative, is one of the most critical projects for the economic revival of Pakistan, said Mr Khalid Mansoor, adviser to the prime minister on CPEC affairs.
Talking about the involvement of the two countries to make CPEC a green corridor, the official said that they would be planting several trees along the CPEC route and “we want to make sure that as the industrial hub is going to be increased, it should not be detrimental for the people’s health and also make sure that it is not polluting the environment by producing emissions.”
He said that coal power plants working under CPEC make sure that they use state-of-the-art technology to reach world standards in emissions, removing the apprehensions that they are dangerous to the environment.
The official said that the common people of Pakistan & local people of Gwadar are the ultimate beneficiaries of the CPEC projects.
Apart from job opportunities and livelihood prospects, CPEC also resolves people’s daily life issues, quoting the country’s southwest Gwadar district, where people lacked clean drinking water and electricity.
“So, we are working very closely with the authorities like Gwadar Development Authority and Gwadar Port Authority, and the Chinese company to make sure of providing all sorts of facilitation to residents of Gwadar.”
Talking about CPEC’s creation of employment opportunities for the unemployed in Pakistan, the official said that tremendous jobs opportunities would be created for people in phase two and special importance would be added to their skill enhancement. For that purpose, vocational training institutes will be constructed in special economic zones.
On the role of the BRI in Pakistan-Afghanistan cooperation, Mr Khalid Mansoor said that Belt & Road Imitative would reveal a lot of economic chances for landlocked Afghanistan, which will get the opportunity to improve its exports through regional connectivity proposed by the BRI.
The Pakistan-China Corridor is a win-win for both countries. It will provide to all federating units of Pakistan through proper rail and road networks and multiple energy projects within the next three years. Through this mega project, Pakistan will become the business and trade hub in Asia, and Western China will penetrate into Asian and European markets.
The current government is making the right move by strengthening its economic ties with China. This is one of the most important agreements signed between Pakistan and China till now, and it would increase the depth of their bilateral strategic relations.