Zardari, Xi set new plan for CPEC expansion

Beijing/Islamabad: Pakistan President Asif Ali Zardari and Chinese President Xi Jinping have agreed on new plans and strategies for the expansion of the China-Pakistan Economic Corridor (CPEC). Both countries have reiterated their commitment to further strengthen ties and promote regional development.

Announcement to add new projects to CPEC

During the high-level meeting held in Beijing, President Zardari and President Xi decided to speed up the ongoing projects under CPEC and to add new development projects. Emphasis was placed on promoting cooperation in key sectors such as energy, infrastructure, industrial zones, and the digital economy.

Chinese President Xi Jinping said that CPEC is not only important for Pakistan and China, but it is the guarantor of the economic development of the entire region. He assured China’s full support in keeping Pakistan on the path of development despite the challenges it faces.

Special focus on energy and infrastructure

President Asif Ali Zardari thanked the government of China and said that CPEC has become the backbone of Pakistan’s economy, and its expansion will not only increase employment opportunities but also help in overcoming the energy crisis in the country. The two leaders also discussed the launch of new hydropower and solar energy projects in Pakistan.

China has also expressed willingness to further develop Gwadar Port and provide modern facilities there, which will increase trade activities in Pakistan. Apart from this, it was also agreed to enable industrial zones and promote Chinese investment there.

Regional development and joint strategy

In the meeting, the two presidents also emphasized that in the second phase of CPEC, work will also be done in the fields of agriculture, digital economy, and advanced technology. On this occasion, President Zardari said that Pakistan will strengthen its commitment to China’s Belt and Road Initiative (BRI) and play an active role in regional development.

President Xi Jinping said that China will continue all possible cooperation to further strengthen its fraternal ties with Pakistan. He termed CPEC a symbol of stability and prosperity in South Asia and said that this project will benefit not only the two countries but the entire region.

Further expansion in Pakistan-China relations

After this meeting regarding the expansion of CPEC, analysts say that the relations between Pakistan and China will be stronger, and this will have positive effects on the economy. Increased Chinese investment and transfer of advanced technology will further strengthen economic growth in Pakistan.

According to government sources, in the next few months, practical work will begin on expansion projects of CPEC, which will include industrial zones, modern highways, and energy projects. These development initiatives will play an important role in bringing Pakistan out of the economic crisis.

Read more