CPEC enters next phase of development

ISLAMABAD: Islamabad and Beijing on Thursday decided to prioritize the conclusion of projects under the China-Pakistan Economic Corridor (CPEC) that are associated with Pakistan’s port city of Gwadar, ahead of a Joint Cooperation Committee (JCC) session scheduled tentatively for the first week of December in Beijing.
The JCC is CPEC’s lead policymaker. Seven ministerial sessions of the committee have been held since the project’s inception.
The two sides agreed to focus on the new Gwadar international airport, socioeconomic development, a hospital, and professional and technical institutes.
Pakistan has emphasized improvement of its railways, special economic zones and third-country participation, which will be discussed at the eighth JCC meeting.
Sen. Mushahid Hussain, chairman of the Pakistan-China Institute, told Arab News: “The best of CPEC is yet to come. Total outlay as of now is $61 billion, which is the single biggest bilateral project between two countries since World War II.”
He said: “The next phase of CPEC includes agriculture, culture, tourism, information technology, education and youth exchanges.”
Li Xiguang, director of China’s Tsinghua University, told Arab News that if both governments negotiate a mutually beneficial deal on Pakistani agricultural exports, especially cotton and sticky rice, “that would sell very well in China and fetch a high price.”
Li praised soil quality across the four provinces of Pakistan, whose agriculture sector makes up to 20 percent of its gross domestic product (GDP) and has attracted Chinese entrepreneurs seeking land for farming since CPEC’s inception.
Hussain said: “You’re looking at job creation, manufacturing, and a better tomorrow for our people.”

CPEC enters next phase of development