Other international locations can be part of CPEC for mutual advantages: China, Pakistan
Both sides reviewed continued implementation of CPEC and its enlargement to collectively agreed precedence areas
Both sides reviewed continued implementation of CPEC and its enlargement to collectively agreed precedence areas
Pakistan and China on Friday determined to welcome any third nation becoming a member of the multi-billion greenback China-Pakistan Economic Corridor (CPEC) for “mutual beneficial cooperation”.
The third assembly of the China-Pakistan Economic Corridor (CPEC) Joint Working Group (JWG) on International Cooperation and Coordination (JWG-ICC) was held in digital mode and was co-chaired by Foreign Secretary Sohail Mahmood and China’s Assistant Foreign Minister Wu Jianghao, in line with a press release by the Foreign Office.
During the assembly, either side reviewed continued implementation of CPEC and its enlargement to collectively agreed precedence areas.
It was famous that as a flagship of the Belt and Road Initiative (BRI), CPEC had damaged new floor in strengthening worldwide and regional connectivity, particularly within the context of its extension to Afghanistan.
“As an open and inclusive platform, both sides welcomed interested third parties to benefit from avenues for mutually beneficial cooperation opened up by CPEC,” in line with FO.
It was additionally agreed that CPEC’s growth had reached a brand new level, with growing emphasis on high-quality growth of trade, agriculture, IT, and science and know-how, whereas making certain tangible socio-economic advantages for the individuals.
Foreign Secretary Mahmood underscored the centrality of the time-tested Pakistan-China All-Weather Strategic Cooperative Partnership in Pakistan’s overseas coverage.
He added that, manifesting the historic alternative of each international locations and peoples, the vitality and dynamism of CPEC mirrored the deep-seated mutual goodwill that lay on the coronary heart of the bilateral relationship.
“The timely completion of CPEC projects and steady progress on realising important projects in the pipeline was energising bilateral cooperation and further strengthening the foundation for Pakistan’s economic modernisation and enhancing the capacity for sustained progress and prosperity,” he mentioned CPEC was launched in 2015 with the target to extend connectivity in Pakistan and China by constructing roads, power initiatives and industrial zones in Pakistan.
Originally valued at $46 billion, the initiatives have been price $62 billion as of 2017.
India has protested to China over the CPEC as it’s being laid by means of Pakistan-occupied Kashmir.
Launched in 2013, the CPEC is a hall linking Pakistan’s Gwadar port on the Arabian Sea with Kashgar in northwest China’s Xinjiang Uygur Autonomous Region, which highlights power, transport and industrial cooperation.