With the advent of the China Pakistan Economic Corridor (CPEC) the strategic ties between China and Pakistan have been on an upward course. From an economical point of view CPEC is a revolution. Under the umbrella of CPEC, for infrastructure and energy development in Pakistan, China has invested $46 billion. CPEC defines a futuristic economic dimension of Pakistan. Avenues from geo politics to geo-economics have opened up because of this multidimensional project/initiative.
CPEC accommodates four main areas where Pakistan was lagging, infrastructure development, energy shortages, human resource growth and economic progression. CPEC is an investment for the next fifteen years and not an economic loan/aid to Pakistan. This is a very good opportunity for Pakistan to utilize all of its resources and man power to bring Pakistan on a global economic canvas. It is projected that if CPEC is utilized properly the economy of Pakistan would re bound by three to four times.
CPEC – A game changer for Pakistan
CPEC is a game changer for Pakistan and for the region. In the form of networks, intra country connectivity and partnerships CPEC will be playing an integral role through economic incentives. By opening collective landscapes of cooperation and development in the field of economics CPEC has the potential to completely transform the lives of the millions of people in the region. CPEC is an extension of the vision of the Chinese leadership and an ambitious vision to rebuild the Silk Route under the One belt One road (OBOR) initiative.
China Pakistan Relations:
China and Pakistan formally initiated their diplomatic relationship on the 21st May 1951. But the history of China Pakistan relations goes back to thousand years when the ancient Chinese traders used to go to Europe via present day Pakistan for trading purposes. On the ancient silk route Pakistan was an important station. The first official delegation from Pakistan visited China on the 4th of January 1950 three months immediately after the Peoples Republic of China came into being.
With the launch of the China Pakistan Economic Corridor and the One Belt One Road initiative, Pakistan and China have entered into a new dimension in their relationship. An exponential improvement has been witnessed apart from strong political and military relations, on the economic front. In the power generation and transmission sector a lot of investment has been poured in to initiate mega projects. Focus on strengthening and upgrading oil and gas pipelines, motorways, airports, rail services and fiber optic linkages are underway.