Pakistan and China agree to deploy more resources in CPEC
More Resources for CPEC: The new growth points are created by China-Pakistan Economic Corridor
These points will boost economic ties between the two countries as more resources are deployed for:
- Technological collaboration
- Infrastructure development
- People-to-people exchanges
On Monday, this was stated by the Vice Chairman of the China Center for International Economic Exchanges, Wei Jianguo
“CPEC is not targeted at any third party and is aimed at benefiting the entire region and has become an important driving force for regional integration.”
Major successful areas in CPEC:
CPEC has progressed in four major areas:
- Transportation Infrastructure
- Industrial cooperation
It has so far created 70,000 direct jobs for the local people. Furthermore, 9 projects have been completed and 13 are under construction.
Energy projects in Pakistan:
Recently, 15 energy projects in Pakistan with the total capacity of 11,110 megawatts are planned as a priority. 11 are under construction or in operation with the cumulative capacity of 6,910MW.
CPEC is development-oriented and has adopted advanced technologies and strict environmental protection standards.
As a next step, China will explore more pragmatic cooperation with Pakistan via CPEC development. These areas include:
- Poverty alleviation
Moreover, Pakistan has a special status on the Belt and Road initiative concerning its position as China’s neighbor and its importance in South Asia.
Establishment of an Agriculture technology demonstration center:
China is planning to set up an agriculture technology demonstration center in Pakistan. It will improve:
- Local agricultural technology
- Production efficiency
- Value-added agricultural industry
A researcher at the Beijing based Chinese Academy of Science and Technology for Development said that this new move in CPEC will strengthen:
- Scientific and technological cooperation with Pakistan
- Establish a China Pakistan Joint Research Center for Earth Science
- Scientific research on disaster reduction and prevention
- Promote ecological and environmental protection
- Development of green and sustainable growth in Pakistan
The Deputy Director of Chinese Academy of Social Sciences said,
“Friendly and good relations with Pakistan can serve as a model for China in its cooperation with other countries in the future.”
Wei Jianguo said that CPEC is behind the economic challenges being faced by Pakistan. He said that International Borrowing is risky and should not criticize. He said the first step of CPEC focused on infrastructure construction and it is costly and time-taking.