ISLAMABAD, Pakistan: The Chinese President Xi Jinping has reaffirmed his commitment to the success of the China-Pakistan Economic Corridor (CPEC) project; a network of roads, railway and pipelines between the long-time allies.
In a letter which the Chinese Ambassador Sun Weidong delivered to Prime Minister Nawaz Sharif in Islamabad on Thursday, President Xi also reaffirmed support to an abiding all-weather bilateral relationship between Pakistan and China which is characterizing the two countries as Iron Brothers.
The Chinese president thanked the Pakistani premier for the hospitality extended to him and the excellent arrangements made to ensure the success of his visit.
Xi Jinping paid a two-day official visit to Pakistan from April 20 to 21 and during his stay in Islamabad, both Pakistan and China signed 51 agreements and memorandums of understandings (MoUs) worth $46 billion covering key development projects in the infrastructure, energy and communication sectors under the ambit of the China-Pakistan Economic Corridor.
China–Pakistan Economic Corridor (CPEC)
The CPEC is a development megaproject that aims to connect Gwadar Port in southwestern Pakistan to China’s northwestern autonomous region of Xinjiang, via a network of highways, railways and pipelines to transport oil and gas.
The economic corridor is considered central to China–Pakistan relations and will run about 3,000 km from Gwadar to Kashgar. Overall construction costs are estimated at $46 billion, with the entire project expected to be completed in several years.
The corridor is an extension of China’s proposed 21st century Silk Road initiative.
“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, which would go a long way in making Pakistan a richer and stronger entity than ever before,” according to a Firstpost report. (Courtesy-Wikipedia)