No country can succeed in world affairs and enter into the race of world powers without having a strong economy. Pakistan is poised to be among emerging economies of the world as a number of trade and investment initiatives prove to be game changers such as China-Pakistan Economic Corridor. The Corridor project is a journey towards economic regionalization and integration in the globalized world and a win-win model of peace, development, and economic growth.
CPEC is a true depiction of deep rooted manifestation of Pakistan and China friendship. The Corridor projects under the umbrella of China’s great initiative “One Belt and One Road” aims to benefit not only Pakistan and China, but will also have a positive impact on neighbouring countries particularly Iran, Afghanistan, India and Central Asian states. CPEC as an engine of regional connectivity focus to improve and enhance geographical linkages with having improved road, rail and air transportation system.
This improved regional connectivity promises a higher volume of trade, businesses and investment opportunities. one such initiative following the government policy to bolster economy the country, is the Trade and Investment forum organized by Melange in collaboration with Islamabad Chamber of Commerce and Industry that aims to promote trade and investment opportunities and identify business opportunities under CPEC and other platforms including “StartUp Pakistan”.
The 7th ministerial-level meeting of Joint Cooperation Committee (JCC) on China-Pakistan Economic Corridor (CPEC) finally approved the Long Term Plan (LTP) 2014-2030. The JCC meeting on CPEC was recently held in Islamabad to review and approve the various development initiatives in the mega development project. Federal Minister for Planning, Development & Reforms, Ahsan Iqbal and his Chinese counterpart jointly headed JCC meeting. The representatives of private sector including trade and industry chambers also participated in the meeting for the first time.
Speaking at the high-level meeting, Ahsan Iqbal termed 7th JCC in Pakistan as a milestone towards realizing the CPEC and noted that people of Pakistan valued the multifaceted cooperation extended by government and people of China to Pakistan. He said that CPEC entering into the first phase of its completion and 7th JCC is of historical significance as it aims to finalize the Long-Term Plan of project.
“The Long-Term Plan will give new dimensions to bilateral cooperation between China and Pakistan”, the Planning Minister emphasised. Ahsan Iqbal said that long term plan would expand the scope of cooperation in various new areas including cooperation in social sectors along with the economic fields. Along with infrastructure development and upgradation, education and health sectors would also be targeted for their improvement and upgradation under CPEC. It is pertinent to mention here that Gwadar is being termed as the gateway of CPEC. Ahsan Iqbal said that projects in Gwadar are of utmost importance for the people of Gwadar and national development. Furthermore, the long-awaited project of Karachi Circular Railway (KCR) was approved in the meeting. As a result of which China will assign experts to evaluate the Special Economic Zones in the four provinces and Gilgit-Baltistan.