THE CHINA PAKISTAN ECONOMIC CORRIDOR

CPEC

WHAT IS THE CPEC

The China–Pakistan Economic Corridor (CPEC) is a ongoing development megaproject which aims to connect Gwadar Port in southwestern Pakistan to China’s northwestern region of Xinjiang, via a network of highways, railways and Pipeline to transport oil and gas.

BACKGROUND OF PROJECT The Project was proposed by Chinese

premier Li Keqiang during his visit to Pakistan in May , 2013.

The Pak-China Economic Corridor was inaugurated in Islamabad on 27 August, 2013.

INFRASTRUCTURE PROJECTS Gawadar Port up gradation. Lahore Karachi Motorway. Peshawar Karachi Motorway. Havelian-Khujerab Railway. Hazara Motorway. Gawadar Retodero Motorway. Lahore Orange Lane Metro Train.

IMPORTANCE TO CHINA Chinese industries are facing problems to compete

in global market due to high transportation cost and delivery time.

China is using a longest way due to which transportation cost and time increases, which give a competitive edge to competitors e.g. Japan, USA.

It would decrease the travel distance and cost greatly from china to Gulf.

Even if China uses PCEC for 50% of its Oil supplies then it will save $6 Million every day, almost $2 billion every year.

New business market in another country. Independent path from India and USA’s

interference.

IMPORTANCE TO PAKISTAN

Strategic and economic trade routes. Development of infrastructure. Connect all the province easily and

decrease in transportation cost. Development of Fata, KPK and Baluchistan. Job opportunities. Equalization among Provinces. It will prove a big game changer for the

Pakistan. GDP will be increased and also increase

our reserve as well.

CONCLUSION Pak-China relationship holds great

importance in the world. Pak-China friendship is not only at

political level but people of both countries share a deep and special bond.

This historic friendship is termed as “Stronger than steel, sweeter then honey, deeper than ocean, higher than mountain.”

SUGGESTIONS

Establishment of interaction between youth of both countries will be a good plan.

Pakistan provide proper security to Chinese workers and Engineers.

Export or Import on equal basis because Pakistan import more goods than export.