In Beijing, Zhang Jiadong, Director of the Center for South Asian Studies at Fudan University in Shanghai, China, emphasized the significant investment opportunities for Chinese enterprises and the infrastructural enhancements for Pakistan presented by the China-Pakistan Economic Corridor (CPEC), a flagship project of the Belt and Road Initiative (BRI).
Zhang Jiadong highlighted the substantial mutual benefits of CPEC, with Chinese companies benefiting from lucrative overseas construction projects and Pakistan gaining improved power supply and transportation facilities.
He noted that while China and Pakistan have historically relied on diplomatic relations, their economic cooperation is relatively new, with CPEC deepening this partnership through joint investments and cooperation, thus becoming crucial for the long-term development of their relations.
Addressing the second phase of CPEC, which encompasses sectors like innovation, economic development, and regional connectivity, Zhang Jiadong explained that while the first phase focused on infrastructure construction, it laid the groundwork for broader economic cooperation. He underscored the completion of initial goals and the surplus electricity supply in Pakistan.
However, Zhang Jiadong emphasized that CPEC serves as a foundation for economic cooperation, with both countries identifying five corridors for future specific cooperation in various sectors.
Regarding regional connectivity, he highlighted Pakistan’s pivotal role as a bridge between Central Asia, the Middle East, and South Asia, emphasizing the importance of opening up for better regional connectivity, vital for any country’s development.
