Bureau Report
LAHORE: Being the largest bilateral investment project in terms of geo-economic growth, regional partnership and development, the China-Pakistan Economic Corridor (CPEC), has emerged surprisingly as a boon both for Pakistan, China and other countries in the region.
There is much to learn from the revolutionary progressive and development story of China, as the emerging superpower has magnetically pulled 800 million people out of poverty during the last four decades through economic reforms and a targeted agenda, which presents a compelling model for Pakistan to follow.Gwadar is located on an isthmus in the Arabian Sea on the southwestern coast of Pakistan. As such, it is an economic gateway to both the Persian Gulf and Central Asian countries, which would eventually connect more than 64 countries in Asia and Europe.
This is what it has been called the standalone pillar of the CPEC and the China-proposed Belt and Road Initiative.CPEC is a framework of regional connectivity which aims at economic regionalization in the digital and globalised world.Besides China and Pakistan, the flagship project will put a positive impact on other regional countries including Afghanistan, India, Iran, Central Asian Republics (CARs), and the Middle East Countries in the region.
Through CPEC the regional powers in Asia, Central Asia and Middle East are shaping their geo-economic priorities and financial benefits which would further help originate peace, stable economies, enduring development and a win-win model for all of them.
The project is shaping requirements and cooperation models among regional countries by improving geographical connectivity and business engagement through improved road, rail and air transportation systems. Additionally, the upgraded flow of trade and business volume will result in a well connected, integrated region of shared destiny, harmony and development through CPEC.
CPEC Project Director Dr. Liaqat Ali Shah told media that the incumbent government of PTI was rapidly achieving immediate results from CPEC, adding immense unemployed youth were being provided with internship initiative opportunities whereas skilled professionals were already doing jobs due to the project.
