CPEC - A vital doorway for Exports from Azerbaijan to China
- By Sunaa Ansari -
- Jul 04, 2018
ISLAMABAD: China Pakistan Economic Corridor (CPEC) plays an essential part for improvising the exports from Azerbaijan to China. The developing project CPEC, opens up many doors for neighboring countries to enhance their trade relationships with China and others too.
Sajid Khan Mohmand, Ambassador of Pakistan to Azerbaijan briefed the route for transportation of goods to China from Astrakhan via Azerbaijan, Iran and Pakistan.
He said, “We are also expanding the main seaport of Gwadar. By 2025, the port can accept more and more large vessels, and there are transport corridors within the Lapis Lazuli project and the Ashgabat agreement that connect Azerbaijan with Pakistan and Central Asia, all of which can be of great importance for Azerbaijan.”
CPEC is an anthology which comprises of massive infrastructure projects, which are under construction all over Pakistan. CPEC provided a passage for improvisation of imports & exports of the country for economic growth & stability. Initially CPEC worth $46 billion, but as of now the value of CPEC projects is almost $62 billion.
CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones.
It is projected that CPEC will provide a facelift to Pakistan and neighboring countries, by updating the Pakistani infrastructure which will brace up the nation. The main objective of CPEC is to assist economy by providing them ample haulage networks, communication services, energy plants and various factors which lead to a strong economy.
Trade and economic relations plays an important part for healthy bilateral relations between China and Azerbaijan.
The collaboration of China and Azerbaijan mainly add up to the recognition of the Great Silk road program.
Earlier in 2017, China became Azerbaijan’s 4th largest trading associate. According to customs activities of Azerbaijan, a record high of 33% is observed comparatively to previous year is around $1.3 billion.
According to statistics report, Azerbaijan’s exports goods worth around $433.8 million (3.21 percent of total exports), while Chinese products imports to Azerbaijan touches to $854.5 million (9.73 percent of whole imports).