Pakistan and China set to launch 2nd phase of China-Pakistan Economic Corridor during Prime Minister Shehbaz Sharif’s ongoing visit
Pakistani Prime Minister Shehbaz Sharif stated on Sunday that his government’s policies and initiatives are “closely” aligned with Chinese President Xi Jinping’s “vision and philosophy to eradicate corruption and poverty.”
He made these remarks while addressing Tianjin University students and faculty members, including those from Pakistan, ahead of the Shanghai Cooperation Organization (SCO) summit, said a statement from his office in Islamabad.
His visit will also mark the formal launch of the second phase of the China-Pakistan Economic Corridor (CPEC-II), which will focus on industrial cooperation, after a five-year delay.
“The prime minister’s upcoming visit will mark the formal launch of CPEC Phase II, with both sides expected to set clear priorities and agree on tangible, measurable outcomes,” Planning Minister Ahsan Iqbal, who is in charge of the multibillion-dollar initiative, said earlier this month.
The $64 billion CPEC project is a key component of the Belt and Road Initiative. It connects China’s northwestern Xinjiang province to Pakistan’s Gwadar port in Balochistan via a network of roads, railways, and pipelines for cargo, oil, and gas transport.
China, Pakistan, and Afghanistan agreed in May to extend the CPEC into Afghanistan.
The project, however, is facing security challenges, particularly in southwestern Balochistan province, a key CPEC route, where suspected Baloch militants have been targeting Chinese workers for several years.
