Pakistan’s northern areas served as a vibrant route for the ancient Silk Road, connecting China to the Middle East, Africa, and Europe, and that, in turn, enabled the flow and exchange of trade, knowledge, and culture, deeply influencing the development process of nations across the region.
Its contemporary manifestation is the China-Pakistan Economic Corridor (CPEC), a flagship project of the visionary joint building of the Belt and Road Initiative (BRI), which has revived the ancient Silk Road, now connecting China and Pakistan through air, rail, and sea routes, and even spans to Central Asia, Europe, and Africa.
China and Pakistan are resolute in taking the upgraded version of the China-Pakistan Economic Corridor (CPEC) to new heights to advance regional connectivity, integration, and common prosperity, thus forging a new era of growth and development for nations in the region and beyond.
In 2015, Chinese President Xi Jinping’s state visit to Pakistan was a milestone event of epoch-making significance for developing bilateral relations, injecting new momentum into enhancing mutual trust and economic cooperation between the two countries.
Xi Jinping’s visit pushed the construction of the CPEC to new heights, attracting more Chinese investment into key sectors in Pakistan, creating more job opportunities, stimulating economic growth, and promoting macroeconomic stability and development in Pakistan. There can be no better practice to achieve a vision of common prosperity in the modern era.
The advanced version of the CPEC promises an even brighter future. Both sides have jointly built a growth corridor, a livelihood-enhancing corridor, an innovation corridor, a green corridor, and an open corridor, which resonate with the people-centric development agenda of the Pakistani government.
Filled with the spirit of win-win cooperation, the advanced version of the CPEC envisions over 60 high-quality cooperation projects. Pakistan wants to realize this goal by further elevating its time-tested and enduring partnership with China to greater heights. Shehbaz Sharif’s visit will provide a vital opportunity to strengthen cooperation further between Pakistan and China across political, economic, trade, and investment domains.
The primary focus of Pakistan is to streamline regulations, maintain policy continuity, and foster an environment conducive to strong, equitable, and resilient economic growth. The government is also cultivating a business-friendly environment that places a high premium on Foreign Direct Investment (FDI), supports the capital needs of our economic development, drives productivity, enhances exports, and fosters job creation.
To bring improvements to the service sector, the government has started to work on measures such as an increased number of vocational training programs; encouraging public-private partnership in skill development, especially for digital jobs; and investing in advanced technologies for the modernization of manufacturing, increasing productivity in all sectors of the national economy.
We can reproduce China’s successful model of a virtuous cycle of development and prosperity. Shehbaz Sharif constituted a Cabinet Committee on Chinese Investment Projects (CCoCIP) in March this year, which specifically oversees and facilitates Chinese investment plans in Pakistan.
Islamabad and Beijing have a good friendship spanning 73 years, marked by shared sentiments of unparalleled strategic trust, camaraderie, and unflinching solidarity. All Weather Strategic Cooperative Partnership has grown into a sturdy tree with deep roots in the hearts of our two people. We have stood by each other, through weal and woe, sharing good as well as challenging times.
The extraordinary bond between the two countries is rooted in the mutual understanding of the people of both countries and built on shared ideals, values, and aspirations. This has made China and Pakistan good neighbors, good friends, and good brothers who understand, trust, and support each other.
Through the joint efforts of both sides, the China-Pakistan deepening cooperation will yield even greater benefits, improving the lives of our citizens.
