Beijing, 10 July 2023 (TDI): China-Pakistan Economic Corridor (CPEC) under the flagship of the Belt Road Initiative brings $US 25.4 billion of direct Investment from China.
Both countries celebrate the decade of tangible bilateral and economic cooperation that has particularly transformed Pakistan’s landscape.
CPEC is celebrating its 10th Anniversary, and is blessed with support of successive governments & the public, with tremendous achievements made through joint efforts. It now has ushered in a new stage of high-quality development, with more to expect on the new milestone. #CPEC10Y pic.twitter.com/0t9GiP1qXT
— Chinese Emb Pakistan (@CathayPak) July 9, 2023
Contemporary, China has seen to be the biggest source of investment, loans, and the significant trading partner of Pakistan.
However, this visionary project has helped both nations foster strong bilateral ties.
According to Wang Webin, the Chinese Foreign Ministry Spokesperson, CPEC has generated 192,000 job opportunities.
Additionally, the project has contributed 6,000 megawatts of electric power, constructed 510 kilometers of highways, and extended the core national transmission network by 886 kilometers.
After ten years of development, a “1+4” cooperation layout has been formed with CPEC at the center and Gwadar Port, transport infrastructure, energy, and industrial cooperation as the key areas.
The Senior Chinese official recognized the importance of the China-Pakistan Economic Corridor, saying, “The CPEC is a signature project paving a cooperative road between China and China-Pakistan in the new era and holds a pivotal place within the Belt and Road Initiative.”
Furthermore, China and Pakistan have successfully created new avenues for cooperation under the CPEC. The project aims to achieve cooperation in agriculture, science, technology, and telecommunications, for the welfare of the people.
While expressing his appreciation, Prime Minister Shehbaz Sharif stated, “The implementation of several multi-billion-dollar development projects under the CPEC has brought a socio-economic boom to Pakistan, elevating the country’s progress in the region and beyond.”
“Both nations aim to further accelerate the pace of CPEC projects, enhancing cooperation in diverse areas such as agriculture, special economic zones, information technology, and exploration of mineral resources,” he said.