China Pakistan Economic Corridor Prospects For Pakistan

At the end of 2013 Chinese President Xi Jinping announced one of China’s most ambitious
foreign policy and economic initiatives. He called for the building of a Silk Road Economic Belt
and a 21st Century Maritime Silk Road, collectively referred to as One Belt, One Road (OBOR)
but which has also come to be known as the Belt and Road Initiative. Xi’s vision is an ambitious
program of infrastructure building to connect China’s less-developed border regions with
neighboring countries. OBOR is arguably one of the largest development plans in modern
history.

China Pakistan economic corridor is one of the key component of OBOR

Pakistan China relationship started since early 1950’s and started maturing in 1972 by formation
of strategic alliance between the two countries. Maintaining close relationship with China is part
of Pakistan’s foreign policy as China is Pakistan’s strategic partner in the East. It helps Pakistan
maintain balance of power in the region, and with one of the leading nations like China by her
side, Pakistan has gained significant importance in the region.Sino-Pak relationship is an all-
weather partnership and has been time tested, be it economic cooperation, military pacts or moral
support in leading organizations, The deep sea port of Gwadar plays an important role in further
strengthening the ties of Pakistan and China. Pakistan and China are trying to revive the
legendary Silk Road which is one of the oldest known trade route in the world. From kashgar to
Gawadar port a 2000km road route. Cepec is not just a trade route it is corridor of economic
opportunities where different economic zones will be belt according to an estimate there after
competition this route only toll income will be bigger than Pakistan current annual budget. This
project’s main funding is going in Pakistan energy sector as Pakistan was facing sericous energy
crisis with this investment pakisan has alredy making progrees in reducing shortfall and even
soon will eliminate load shedding from country. Which will impact on economy positively. With
this cpec paksistan diferent sectors are able to get investment like road and infrsature and it will
also help in bringing more FDI in country. Which will increase employment opportunity for our
youth and will help in improving the standard of leaving of our people. This will greater help
Pakistan develop its economy as this road does stop in Gawadar it leads to Europe and to Africa
and Pakistan can get access to these markets with the help of this. CPEC is truly a game changer
for Pakistan. it will develop Pakistan and china less developed reign with in no time and will
increase huge commerce activities in these areas creating jobs for local and revenues for
government. This is Pakistan fate changer . paksiatn has huge youth unemployed this will help
them find employment for them. This reduces china’s journey to Africa and middle east where
china’s oil comes from . so it helps china in many ways as well like helps Pakistan economy.