On Monday a long-term cooperation plan between Pakistan and China has been unveiled which is about economic development by focusing on cooperation until at least 2030 in different areas varying from information technology to infrastructure.
This is the very first time that the length of the mutual collaborated work plan has been revealed between the two countries for a mutual project referred to as the CPEC (China Pakistan Economic Corridor).
The CPEC long-term plan was revealed to the public in a ceremony held at Islamabad. The ceremony was attended by Yao Jing—Chinese Ambassador and Ahsan Iqbal—Pakistani Minister for Planning.
The revealed document did not provide the specific project related details like the terms and conditions of loans and investments or the details for Special Economic Zones—some of these projects are already in work in Pakistan.
Under the CPEC flagship, an investment of $57 billion has been committed to Pakistan for the making of a new “Silk Road” for land and maritime trade routes throughout above sixty countries in Europe, Asia and Africa.
The long-term plans stressed significant cooperation between the two neighbouring-brotherly nations, which encompasses infrastructure, road and rail infrastructure connectivity, industrial parks, energy, trade, agriculture, tourism and poverty mitigation.
CPEC is a sign of hope for Pakistan as many development projects are promised under it. If all goes well then definitely CPEC would result in enhancing and improving Pakistan’s socio-economic status in the world.
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