Pakistan

Foreign envoys term CPEC flagship project

ISLAMABAD: Envoys of different countries in their interviews with Chinese state TV CCTV have acknowledged that China Pakistan Economic Corridor (CPEC) as a flagship project of One Belt, One Road (OBOR) vision has created more than 13,000 job opportunities in Pakistan.

They said ‘One Belt and One Road’ international cooperation summit forum which is scheduled to be held this month is likely to promote international economic prosperity.

The foreign envoys said the upcoming summit forum will help plan a long-term vision of cooperation and inject momentum for global economic growth.

The China Pakistan Economic Corridor (CPEC) project is an economic corridor comprising a collection of projects currently under-construction at a cost of $51 billion.

CPEC aims to facilitate trade route that connects Kashgar and Gwadar through a network of highways, railways, and pipelines.

It is the first and most important corridor out of six proposed corridors of China’s ambitious initiative to reach out to global markets through shorter routes. This corridor is about securing China’s trade routes and allowing it to position itself in the Arabian Sea.

The project is predicted to create upwards of 700, 000 direct jobs and add 2 to 2.5 percentage points to the country’s annual economic growth. This will improve the lives of people of Pakistan and China by promoting bilateral connectivity, construction, explore potential bilateral investment, trade, logistics and people-to-people contact for regional connectivity.

CPEC would have positive impact on the whole region specially neighboring countries including Iran, Afghanistan and India.

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