ISLAMABAD: Pakistan geared up efforts to develop five economic corridors under the China-Pakistan Economic Corridor (CPEC) for national growth, Minister for Planning, Development and Special Initiatives Ahsan Iqbal said on Wednesday.
The initiative includes economic corridors of job creation, innovation, green energy, and inclusive regional development, the minister said while chairing a review meeting on CPEC projects.
After the successful completion of the first phase of CPEC, Iqbal said that stakeholders need to immediately coordinate with relevant ministries for the speedy implementation of the projects under the second phase of CPEC, highlighting that there will be no further hindrance in the implementation of CPEC agreements.
During the meeting, the minister underlined the importance of the Gwadar port, a key project in the country’s southwest Balochistan province under CPEC, which is set to become a key maritime gateway connecting Pakistan with the rest of the world.
“The development of Gwadar port and its associated free zone is expected to attract foreign investment, stimulate economic activities, and create job opportunities in the region,” he said.
Talking about boosting exports, Iqbal called on the stakeholders to devise a strategy for increasing Pakistani exports in the Chinese markets.
“Immediate research should be conducted with the help of experts to determine which sectors Pakistan can promote its exports to China,” said the minister.
Launched in 2013, the CPEC, a flagship project of the China-proposed Belt and Road Initiative, is a corridor linking the Gwadar port in southwestern Pakistan with Kashgar in northwest China’s Xinjiang Uygur Autonomous Region, which highlights energy, transport and industrial cooperation.
