21 April,2020

     CHINA PAKISTAN ECONOMIC CORRIDAR   

                           Background
•CPEC is a collection of projects.
•Project was formally conceived in May 2013
•PM Li Keqiang officially visited Pak on 22 May           
2013
•Later Prime Minister Nawaz Sharif made visits to China to discuss the importance of this project.
•President Xi Jinping visited Pak in April 2015 and formally announced China’s offer of US$ 46 billion.
•Agreements were inked giving importance to energy projects.

                     INTRODUCTION

•CPEC is a series of under construction projects of worth more than $50 billion.

It is a 3000 km long extensive network of roads, railways, pipelines and optical fiber cable network.  

•CPEC will link Kashgar in northwest China’s Xinjiang Uygur Autonomous Region & southwest Pakistan’s Gawadar Port.

•CPEC is considered as a golden opportunity for Pak to develop its infrastructur

               

               OBJECTIVES OF CPEC

•Increase the volume of trade between China and Pak.

•Pak and China are 2nd largest partners in South Asia/ this will help to retain partnership.

•Widen Karakoram highway and open new economic corridor from China to Gwadar.

•Approximately reduce 10000 Km distance & is the shortest route.

•Expand trade with Russia by providing trade route till Gwadar port.

•Development of infrastructure along Pakistan.

•China’s access to Indian Ocean with the aim of widening its geopolitical influence.

•Job opportunities and economic development in Baluchistan.

•Increase in Chinese investment.

•Regional peace, prosperity and elevate the lives of poor people in south Asia.

•Enhance trade among Pakistan, China, Gulf States, Central Asia & Africa.

•China is interested to extend IranPakistan pipeline to its western territory