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CPEC IS A WIN FOR PAKISTAN’S ECONOMY AND REGIONAL COOPERATION

“One Belt and One Lane” (OBOR) is China’s formative process, announced in October 2013 for availability and cooperation between nations. Via the “Silk Road Economic Belt” and the “Maritime Silk Road,” OBOR is made up of sixty-five nations and will connect Europe, Asia and Africa. This will be a win-win situation for all participants, as it will expand the trade and enhance the financial development of the entire local community as well as the member nations.

On Wednesday, China praised the assertions of President Dr. Arif Alvi on the China Pakistan Economic Corridor (CPEC) and described it as a groundbreaking Belt and Road Initiative (BRI) pilot project that not only served to foster Pakistan and China’s socio-economic growth, but also aimed to boost regional connectivity and mutual prosperity.

“As President Dr. Arif Alvi said, the BRI ‘s ambitious CPEC as a significant pilot project not only intends to promote the socio-economic growth of China and Pakistan, but also strives to boost regional connectivity and share prosperity,” he said, adding that tangible results in areas such as electricity, transport infrastructure and ports have been achieved since its start.

If we reflect at the port of Gwadar as an example, almost 20,000 tons of commodity such as wheat, sugar and fertilizer were transported to Afghanistan via the port, creating nearly 1,000 temporary jobs, “he added.” He said China overwhelmingly backed the development of the CPEC and was ready to work with Pakistan to begin implementing the deal struck between the two leaders, to concentrate on cooperation, social development, livelihoods, industry and agriculture, while advancing upcoming projects to turn the CPEC into a BRI demonstration program for high-quality advancement.

He said the CPEC also provided perfect circumstances for the realization of convergence between China, Pakistan and the countries of Central Asia, and Pakistan would further enhance cooperation in different areas with China and speed up high-quality CPEC growth.

The CPEC flagship of the Belt and Road Initiative (BRI) aims at regional connectivity and also the socio-economic prosperity of many included countries that lie in the three continents and also pave way for solidarity relations and job cultivation in all the countries, it also fostered the Special Economic Zones (SEZs) in the countries like Pakistan. CPEC is a game-changer for the Pakistan as it will be having a huge impact on the economy of Pakistan.

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