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Introduction:
Chinese Vice-Premier He Lifeng unveils an ambitious future plan for the China Pakistan Economic Corridor (CPEC) during a special ceremony celebrating a decade of progress. The plan emphasizes the importance of regional connectivity, economic integration, and inclusiveness, welcoming third-country participation to promote common development and prosperity.
A Decade of Progress:
CPEC, part of President Xi Jinping’s Belt and Road Initiative (BRI), has seen significant investment from China in development and energy projects in Pakistan, totaling over $60 billion dollars. The project has brought substantial benefits, including $25.4 billion in direct investments, job creation, highway expansion, increased electricity generation, and improvements to the National Transmission Network.
The Future Plan:
Vice-Premier He Lifeng lays out the future plan for CPEC, highlighting the importance of building a “livelihood-enhancing corridor” that prioritizes people’s well-being and deepening cooperation in various sectors, including industry, agriculture, health, education, and training. The plan also proposes an “innovation corridor” to foster collaboration in high-tech, mobile, communications, e-commerce, AI, and smart cities. Additionally, a “green corridor” aims to promote environmentally-friendly development and synergy between the green Silk Road and the Green Pakistan Initiative.
New Agreements and Initiatives:
During the celebration event, Pakistani and Chinese officials signed six agreements, including one on the export of dried chiles from Pakistan to China and the establishment of a mechanism for expert exchange under the CPEC framework. Both sides also signed memoranda of understanding, with a focus on promoting the strategic Main Line-1 (Karachi-Peshawar Railway Line), a $6.8 billion CPEC project aimed at upgrading Pakistan’s railway lines.
Entering the Second Phase of CPEC:
Prime Minister Shehbaz Sharif expresses that Pakistan is entering the “second phase” of CPEC, which will adopt a business-to-business (B2B) model and focus on investments in agriculture and information technology. The aim is to enable Pakistan to export its products in line with Chinese government standards and requirements.
Strengthening Bilateral Relations:
Vice-Premier He Lifeng also meets with Pakistan’s army chief General Syed Asim Munir to discuss defense cooperation, reinforcing the commitment to further enhancing bilateral relations in all fields.
Chinese Vice Premier He Lifeng Arrives in Pakistan for CPEC’s 10th Anniversary Celebrations
Honoring the Chinese Vice-Premier:
Pakistani President Arif Alvi confers the ‘Hilal-e-Pakistan,’ the second-highest civil award, to Vice-Premier He Lifeng in recognition of his contributions to Pakistan-China relations.
Conclusion:
The unveiling of an ambitious future plan for CPEC marks a momentous occasion as the economic corridor celebrates a decade of progress. The plan’s emphasis on regional connectivity, economic integration, and openness to third-country participation underscores the commitment to foster common development and prosperity for the region. As CPEC enters its second phase, it is set to drive innovation, livelihood improvements, and sustainable growth, strengthening ties between Pakistan and China in various fields.
