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Economy

China-Pakistan Economic Corridor to create new opportunities for growth, stability: Pakistani president

July 24, 2020


Abstract : The China-Pakistan Economic Corridor (CPEC) will create new opportunities for economic growth and stability as a number of developmental projects are currently in full swing in the country, Pakistani President Arif Alvi said on Thursday.

ISLAMABAD, July 24 (Xinhua) -- The China-Pakistan Economic Corridor (CPEC) will create new opportunities for economic growth and stability as a number of developmental projects are currently in full swing in the country, Pakistani President Arif Alvi said on Thursday.

CPEC is an epitome of cooperation between the countries of China and Pakistan, the president said at a webinar on CPEC, adding that Pakistan is eager to enhance the progress on CPEC in collaboration with China, further strengthen the development with class and quality and to bring benefits for both countries.

Alvi said that in the first phase of CPEC, China helped Pakistan overcome energy and transportation infrastructure related issues while the next phase is about industrialization, agriculture and science and technology.

The president said that with the operationalization of the Gwadar port, the world has directly come in contact with CPEC which can boost trade between Pakistan and Central Asian states.

The president said with the collaboration of China, the Pakistani government was also building Diamer-Bhasha dam, a vital project for water, food and energy security of Pakistan. The project would generate thousands of employment opportunities.

Speaking on the occasion, Chairman of CPEC Authority Asim Saleem Bajwa said that relations between Pakistan and China are based on a win-win cooperation and are mutually beneficial for both countries.

"The environment in the region is improving day by day and Pakistan is becoming the center of peace, prosperity and development, so we have to get ready to take full advantage of it," Bajwa said.

"The dividends of the projects will be taken down to the common man of Pakistan as we ultimately want our own people to benefit from all these projects," he added.


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Keyword: CPEC China-Pakistan Economic Corridor

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