China-Pakistan Economic Corridor: 10 Years of Progress and Opportunities

Pakistan Prime Minister Shehbaz Sharif recently marked the 10th anniversary of the signing of the China-Pakistan Economic Corridor (CPEC) with a special ceremony in Islamabad. Addressing the event, the Prime Minister highlighted the progress made over the past decade and the opportunities the CPEC has offered for the development of Pakistan. The CPEC is a flagship project of the Belt and Road Initiative (BRI), an international project proposed by Chinese President Xi Jinping in 2013. It aims to link a network of land and sea routes between Southeast Asia, Central Asia, the Gulf region, Africa and Europe.

In Pakistan, the CPEC is focused on the construction of infrastructure and power projects, with the Chinese government and companies investing USD 25.4 billion in various projects. The Prime Minister thanked President Xi Jinping and the Chinese government for their support, particularly when Pakistan awaited an agreement with the International Monetary Fund (IMF). He also expressed regret that the previous government led by Imran Khan had caused damage to the relationship with China, leading to a halt in progress on the CPEC. The Prime Minister affirmed that the current coalition government is making sincere efforts to further strengthen the relationship with China. India has raised strong objections to the CPEC, as it is being laid through the Pakistan-occupied Kashmir (PoK).

Despite this, the CPEC has continued to be an important source of growth and development for Pakistan. The Prime Minister noted that the project has already played a key role in transforming the development landscape of the country, with the launch of several projects. For Pakistan, the CPEC has been a significant opportunity to enhance its development prospects and progress in the region and the world. The 10th anniversary of the signing of the CPEC marks a milestone in the history of the project, and is a reminder of the potential benefits it can bring to Pakistan.