China-Pak­istan Eco­nomic Cor­ri­dor(CPEC) and its Im­por­tance

The Diplomatic Insight - - Special Supplement on China Pakistan Economic Corr -

China Pak­istan re­la­tion­ship dur­ing many land­marks ; start­ing with the sign­ing of bi­lat­eral trade agree­ment in 1963 , fol­lowed by con­struc­tion of Karako­ram high­way and hav­ing en­ergy and de­fence re­lated in­dus­tries. CPEC is the vi­sion of the lead­er­ship of both coun­tries for trans­form­ing this re­la­tion­ship to strate­gic eco­nomic co­op­er­a­tion and con­tours of CPEC came to the lime­light in July 2013. CPEC will take the China Pak­istan re­la­tion­ship to new heights. CPEC is of great value to both China and Pak­istan. This frame­work of re­gional con­nec­tiv­ity will open up west China to south and con­trib­ute to ‘One Belt One Road’ ini­tia­tive pol­icy. The es­tab­lish­ment of com­mu­ni­ca­tion net­works from Kashghar (China) to Gwadar (Pak­istan) has been agreed mu­tu­ally to be com­pleted by 20130 in phases. Chi­nese cap­i­tal, tech­nol­ogy and ca­pac­ity to op­er­ate large num­ber of trans­port in­fra­struc­ture (high­ways/ rail­ways) projects will play its sup­port­ing role to shape the en­abling en­vi­ron­ment for an open eco­nomic sys­tem and lo­gis­tic sys­tem in the re­gion which is the re­gional vi­sion of CPEC. and Pak­istan but will have sub­se­quently on all the coun­tries sur­round­ing it. Pak­istan sees CPEC as the driv­ing force to boost its eco­nomic growth use this op­por­tu­nity to re­move the bot­tle­necks to its eco­nomic de­vel­op­ment (namely in­fra­struc­ture re­lated to trans­port and en­ergy) in the ini­tial phase, and es­tab­lish re­li­able and sus­tain­able high­ways/rail­ways con­nec­tiv­ity and set­ting sound en­ergy foun­da­tion for de­vel­op­ing in­dus­trial clus­ters along this com­mu­ni­ca­tion net­work. The net­works of road and rails be­sides in­dus­trial clus­ters will re­sult in in­clu­sive re­gional de­vel­op­ment be­sides ad­dress­ing the do­mes­tic sta­bil­ity. CPEC is en­vi­sioned as cor­ri­dor of peace and de­vel­op­ment. The phase of plan­ning, con­struc­tion and op­er­a­tion of China Pak­istan Eco­nomic Cor­ri­dor, though is chal­leng­ing but fu­ture. Pak­istan’s land and peo­ple were ad­versely af­fected in the past due to de­nial pol­icy of the area and zones. As a pol­icy frame­work, the in­te­gra­tion of eco­nom­ics of the re­gion will take place through me­dia of CPEC. CEPC is a promis­ing bea­con of peace and de­vel­op­ment for the re­gion in ev­ery tune of its melody. It will have trans­for­ma­tional im­pact on the state and pros­per­ity of peo­ple of Pak­istan. The visit of Pres­i­dent Xi Jin­ping in April 2015 and Chi­nese com­mit­ment of US $ 46 Bil­lion for var­i­ous pro­ject of CPEC, drew the world at­ten­tion to this new de­vel­op­ment. It was stated that CPEC will con­trib­ute to pros­per­ity of both Pak­istan and China and with promis­ing fu­ture for the re­gion/world. Since last year, the en­vi­ron­ment for in­vest­ment is con­tin­u­ously im­prov­ing and im­ple­men­ta­tion of CPEC projects has com­menced. The is­sues are con­tin­u­ously be­ing ad­dressed to achieve new mile­stones of progress. Most in­ter­na­tional agen­cies have ex­pressed pos­i­tive pro­gres­sion of Pak­istan in the last year. Prime Min­is­ter of Pak­istan held meet­ings of the political lead­er­ship ‘All Par­ties Con­fer­ence’, where all political par­ties re­peat­edly ex­pressed their con­sen­sus and sol­i­dar­ity to the CPEC. The con­sid­er­a­tion of new projects in phases is part of the frame­work of CPEC phased plan till 2030, which will re­sult in in­clu­sive de­vel­op­ment. The job op­por­tu­ni­ties of over mil­lion un­der CPEC will con­trib­ute to ab­sorb­ing the youth bulge of the coun­try. The coast of Pak­istan of­fers unique po­ten­tial for in­dus­trial de­vel­op­ment, ur­ban de­vel­op­ment, coastal tourism and marine re­sources. The de­vel­op­ment along mul­ti­ple pas­sages from north to south fol­lowed by axis of de­vel­op­ment west to east will in­deed bring the po­ten­tials of the re­gions to in­ter­act to form a bet­ter world which is peace­ful and pros­per­ous for all the play­ers. A decade and half will be uti­lized to re­al­ize the CPEC projects to achieve the de­sired re­gional con­nec­tiv­ity, which will bring pros­per­ity be­sides Pak­istan and China to Afghanistan, Iran, CARs and sub­se­quently to In­dia and South Asia. Let us the seize this grand op­por­tu­nity and work to­gether to shaper bet­ter Pak­istan and re­gion for a more peace­ful and pros­per­ous re­gion/world of to­mor­row. The writer is Pro­ject Di­rec­tor/CPEC Co­or­di­na­tor at Min­istry of Plan­ning Com­mis­sion, Min­istry of Plan­ning,

De­vel­op­ment & Re­form

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