CPEC’s 2nd phase to focus on industrial, agricultural cooperation, Gwadar port construction

Beijing: The second phase of the construction of China-Pakistan Economic Corridor (CPEC) will focus on industrial cooperation, agricultural cooperation, construction of Gwadar port and socio-economic development, of which 27 new projects will be launched this year.

"While Mr. Khan visited China, the relevant departments of the two countries signed a series of cooperation documents that paved the way for the second phase of CPEC construction." A special commentator talked about the “overseas network” on Saturday, a law and senior researcher at Chahar Institute.

At the meeting, the two leaders pointed out the direction for the next step in promoting the construction of the Sino-Pakistan economic corridor, stressing that the corridor should be turned into a high-quality pilot project for the construction of belts and roads. .

The China-Pakistan Economic Corridor, jointly established by the two countries, is the flagship project of Belt and Road.

After more than four years of collaborative efforts, the first phase of investing $ 19 billion in 22 projects has been completed, and some are underway.

This major project, mainly related to energy and transportation infrastructure, was fully mitigated by Pakistan's long lack of power supply, and in part created a smooth highway network, paving the way for Pakistan's future socio-economic development.

Cheng especially predicted that China would actively help Pakistan to undertake projects in the field of people's livelihood, so the scope of corridor construction will continue to expand and its pace will continue to accelerate.

Cheng (Cheng) said that over the past few years Pakistan has suffered a fiscal crisis, largely due to a lack of foreign exchange.

Continued development of the Sino-Pakistan Economic Corridor will gradually improve Pakistan's financial position.

For example, the Qasim Port coal-fired power plant is a priority project for the Sino-Pakistan economic corridor, which has contributed US $ 166 million to the Pakistani government's tax revenues over the past year.

Experts expect the first phase of 22 projects to be fully completed and in operation, and the government's tax contribution to the Pakistani government will amount to nearly $ 10 billion.

It is believed that in the second phase of industrial parks and special economic zones, more and more governments and enterprises will recognize the potential investment value of Pakistan.

In fact, in recent years, major investment countries in the United States, Germany, Japan, South Korea, Singapore and world companies, as well as Saudi Arabia and other Gulf countries, have sent their missions to Pakistan and are actively considering investing in Pakistan. He added a special economic zone for building industrial parks and factories.

He said once the state-of-the-art industrial production line is in Pakistan, it will gradually move towards industrialization and modernization, improving Pakistan's ability to export industrial products, which will greatly increase foreign exchange imports in Pakistan and fundamentally improve its financial situation.

It is worth noting that the Sino-Pakistan Economic Corridor is an open project that welcomes the active participation of third parties in investment and construction and expansion into the region.

If local countries cooperate to build a South Asian corridor, all local countries will benefit and the whole region will gradually prosper and become stronger.

China and South Asian countries, with a population of about 3 billion people, accounting for about 40{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} of the world's population, have made and contributed to the world.

He is highly integrated in China, Pakistan interests, development and fate, and in building economic corridors and developing practical cooperation, the cooperation between China and Pakistan is not only a common concern of China and Pakistan, but also helps promote the region Change the back and protect the peace and stability of the area.