What is China–Pakistan Economic Corridor (CPEC)?
China-Pakistan economic corridor (CPEC) is a mega project of USD $46 billion taking the bilateral relationship between Pakistan and China to new heights. The project is the beginning of a journey of prosperity of Pakistan and China’s Xinjiang. The economic corridor is about 3000 Kilometres long consisting of highways, railways and pipelines that will connect China’s Xinjiang province to rest of the world through Pakistan’s Gwadar Port.
According to a report,
“This is the biggest overseas investment by China announced yet and the corridor is expected to be operational within three years and will be a strategic game-changer in the region”.
Pakistan will be able to enhance its strategic importance as a bridge and linkage between the European, Asian and African continents with the implementation of China Pakistan Economic Corridor (CPEC) that links South Asia, Central Asia, North Africa and Gulf states with economic and energy cooperation ties.
Opportunities for Entrepreneurs in CPEC
The CPEC is considered to generate 7,00,000 new jobs in Pakistan.
The China-Pakistan Economic Corridor is opening attractive avenues for investment emerging from economic cooperation between the two rising powers of Asia! With extensive roads, railways, ports, and energy infrastructure being laid down, businessmen all around Pakistan are finding new opportunities that are worth their money and time. Prospectus businesses facilitated by the China-Pakistan Economic Corridor.
Pakistani entrepreneurs can take part in CPEC in many different ways, can think about joint ventures with Chinese investors to get most of it and make it more fruitful for both countries. In a recent seminar about “CPEC Opportunities and Impediments: Prospects for Business Community”, Zaheeruddin Dar urged the business owners & entrepreneurs to must realize the potential associated with CPEC, which was the most important of the six components of the greater ‘One Belt One Road (OBOR)’ initiative of China.
With all positive aspects, there are some countries have issues with CPEC. And their concerns are valid up to some extent.
India has raised its concern to Chinese authorities over construction in Gilgit Baltistan region of Pakistan occupied Kashmir which is a disputed area between India and Pakistan. Under the aegis of CPEC the Karakoram Highway will be reconstructed and developed to connect China to Pakistan passes through the disputed region.
There is a lot of negative talk about China-Pakistan-Economic-Corridor in India, the main points raised are below.
- China is considering POK as a Pakistani territory not a disputed region.
- China gets Gwadar Port through which China gets a strategic navel presence to encircle India from third side. Read more about String of Pearls (Indian Ocean).
- Also it gets a place where its neval resources can stay, putting a bit of pressure on India.
- China can keep an eye on LOC.
Read more about How will CPEC effect India, Pakistan & China?