This aerial photo taken on May 23, 2023 shows the Rashakai Special Economic Zone under the China-Pakistan Economic Corridor in northwestern Pakistan’s Khyber Pakhtunkhwa province. (Distributed via China Road and Bridge Corporation/Xinhua News Agency)
ISLAMABAD, May 19 (Xinhua) – Pakistan’s Minister of Planning, Development and Special Initiatives Ahsan Iqbal said the China-Pakistan Economic Corridor (CPEC) will help turn Pakistan into a destination for foreign direct investment opportunities. said.
Speaking at an event at the National Defense University here on Friday, he said peace, stability and continued reforms are critical in harnessing the full potential of CPEC, according to a statement from the planning ministry. .
Iqbal reiterated that CPEC is crucial for Pakistan’s roadmap to a $1 trillion economy by 2030 in line with the 5E framework, with a focus on export-led growth.
According to the ministry, the 5E Framework, a roadmap developed by the Government of Pakistan, sets out development plans for economic revitalization in five areas, including exports, e-Pakistan, environment and climate change, energy and infrastructure, and equity and empowerment. ing.
He emphasized the need for sustainable peace, political stability and policy continuity in Pakistan with the entry into the second phase of CPEC.
According to the statement, the minister also advocated the country’s transition from geopolitics to geoeconomics, noting that economic power now determines global status and influence.
Launched in 2013, CPEC is the flagship project of the Belt and Road Initiative proposed by China, and is a corridor connecting Gwadar Port in Balochistan Province in southwestern Pakistan with Kashgar in Xinjiang Uighur Autonomous Region in northwestern China. Emphasis is placed on industrial cooperation. In the first phase, the new phase will expand specifically to agriculture and livelihood sectors.■
