Has CPEC reached its potential?

Byline: Naghmana A Hashmi

INSPIRED by President Xi's vision of regional connectivity and people-centric development model, the China-Pakistan Economic Corridor (CPEC) is an important part of the Belt and Road Initiative (BRI) and its flagship project with Gwadar Port as the Jewel in the crown of CPEC

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Traditionally, China and Pakistan have cooperated closely at the strategic and political levels. With CPEC the strategic partners are making efforts to expand their bilateral collaboration economically as well. The construction of the CPEC is a milestone that signifies this shift. CPEC is undoubtedly a 'game-changer' not only for Pakistan but the entire region. Connecting Gwadar Port to China's Xinjiang Uygur Autonomous Region, through a network of highways, railways, pipelines to transport goods, technology, oil and gas and fibre optic cable for flow of knowledge, presents enormous opportunities to people from Gwadar to Kashgar and beyond.

The strategic concept of connectivity between Pakistan and China originated with the decision to build the Karakoram Highway (KKH) to link the two countries through an all-weather highway. Thus the concept has been in the works for decades however, the two sides inched towards translating the concept into concrete reality with another strategic decision in 2001 to construct deep sea port at Gwadar. The vision and the financial package for linking KKH to Gwadar port with a network of roads and bridges and reviving the energy sector of Pakistan and project layout of CPEC was agreed during the visit of Chinese Premier Li Keqiang to Pakistan in May 2013.

Today CPEC has become the unambiguous symbol of the enduring friendship between Pakistan and China and holds a pivotal position in the development agenda of Pakistan. CPEC has huge strategic significance for Pakistan and the completion of its first phase has already helped Pakistan lay a strong energy and road infrastructure for subsequent development of industry, agriculture and human resource. So far the implementation of the first phase has provided over a hundred thousand jobs to local population. In the future, with the completion and full operationalization of the second phase involving the setting up of SEZ's, it is expected to bring prosperity to around three billion people of the region, including China, South Asia, Central Asia and the Middle East.

Pakistan and China consider these development initiatives a potential source of...