China-Pakistan-Iran Economic Corridor By: Falak Naz.

A new dimension of economic cooperation and interdepen- dence is emerging in the region with China's recent Comprehensive Strategic Partnership (CSP) agreement for 25 years with Iran worth 400 Billion USD. On the other hand, CPEC is thriving with leaps and bounds in Pakistan. With China as a common denominator between Pakistan and Iran, there is a vivid potential for the extensions of the partnership between the neighbors and beyond. Recently Iran has also been accepted as a permanent member of SCO - one of the emerging powerful regional organizations. The economy is a linking factor that connects the states and treads them on the path of mutual interests, which leads to peace and development. Following are the areas of mutual interests that can spearhead the possibility of the Iran-China-Pakistan Economic Corridor:

Mutual economic interests

Iran, China, and Pakistan's converging economic interest in the region and beyond, especially with the potential of the trilateral agreement, could lead to prosperity in the poverty-ridden regions. Being the most populated state and an economic hub, the energy needs of China are rapidly increasing. The supply of cheap gas and oil from Iran to China via Pakistan thus provides an impetus for an economic corridor. The corridor will serve the respective goals of these states. It will provide China with the opportunity to meet its energy needs towards more economic growth. For Iran, it will be the chance to navigate easily through the financial losses it faces due to the US sanctions. Whereas Pakistan can use its geostrategic location to become an economic and transit hub for china's oil and gas supply from Iran. There is also a huge prospect for trade in different sectors other than energy and its transport among these three states such as textiles, sports, pharmaceuticals, electronic products, furniture, fruits, vegetables, and dairy products, among others.

CPEC's westward expansion (W-CPEC+)

Iran has a huge potential to become a part of the flagship China-Pakistan Economic Corridor (CPEC) project. Iranian officials time and again have shown their interest in joining the project. As part of CPEC's westward expansion, "W-CPEC+" (W referring to the western expansion of CPEC), the Iran-China-Pakistan Economic Corridor will provide a plethora of benefits. In this regard, these states can work towards cooperating on the development of Chabahar and Gwadar Ports. Through the development of these two...