This year marks a significant milestone as China’s landmark Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC) celebrate their 10th anniversary. Over the past decade, these initiatives have reshaped the economic landscape of Pakistan and have had profound implications for the wider Asian region.
To delve deeper into the achievements and future prospects of CPEC, we sat down with Ahsan Iqbal, former Federal Minister for Planning & Development of Pakistan and co-chair of the Joint Cooperation Committee of the China-Pakistan Economic Corridor. With his unique insights, Iqbal sheds light on the transformative impact of CPEC on Pakistan’s economy and its role in regional connectivity.
A Decade of Transformation
Reflecting on the past decade, Iqbal highlighted how CPEC has been a catalyst for Pakistan’s infrastructure development. \”CPEC has been instrumental in bridging our energy deficits, modernizing our transportation networks, and fostering industrial growth,\” he stated. The initiative has led to the construction of highways, power plants, and ports, notably the Gwadar Port, enhancing Pakistan’s strategic importance in global trade routes.
Significance for Pakistan and the Region
Iqbal emphasized that CPEC is not just a bilateral project but a cornerstone for regional integration. \”CPEC serves as a vital link connecting the Chinese mainland with the Arabian Sea, offering shortened trade routes,\” he explained. This connectivity has the potential to boost economic activities not only in Pakistan but also in neighboring countries, promoting shared prosperity across the region.
The Road Ahead
Looking towards the future, Iqbal is optimistic about the expansion of CPEC under China’s continuing modernization. \”The next phase focuses on industrial cooperation, agriculture, and socio-economic development,\” he noted. \”We aim to establish special economic zones that will attract investment, create jobs, and enhance technological exchange.\”
He also mentioned the importance of aligning CPEC with sustainable development goals. \”Our focus is on green energy projects and environmentally friendly practices to ensure long-term benefits,\” Iqbal added.
Conclusion
As CPEC enters its second decade, it stands as a testament to the enduring partnership between Pakistan and China. The initiatives under BRI continue to play a pivotal role in shaping the economic and social landscape of Asia. With leaders like Ahsan Iqbal steering the course, the future holds promising possibilities for enhanced collaboration and development.
Reference(s):
China's BRI turns 10: a conversation with Ahsan Iqbal on CPEC
cgtn.com
