Islamabad (Agencies): China and Pakistan have reaffirmed their commitment to deepening economic relations under the second phase of the China-Pakistan Economic Corridor (CPEC) by sharing several new proposals, including an anti-terrorism cooperation agreement and the establishment of a joint security company.
The multibillion-dollar corridor project is set to receive a significant boost as Beijing has expressed its willingness to kick-start Phase-II, which includes nearly two dozen leftover projects from Phase-I. These projects span various sectors such as railways, road infrastructure, LNG terminals, copper mines, hydropower, and special economic zones.
During Prime Minister Shehbaz Sharif’s recent visit to Beijing, both nations reiterated their zero-tolerance stance on terrorism and agreed to enhance cooperation in counterterrorism and security through a comprehensive approach. This agreement aims to address Chinese security concerns and ensure the safety of Chinese citizens working in Pakistan.
Under Phase-I, 38 projects worth $25.2 billion have been completed, including 17 energy sector projects valued at $18 billion. An additional 26 projects worth $26.8 billion are in the pipeline, many of which will be included in Phase-II.
China has also proposed the inclusion of vehicle-mounted mobile securing equipment and ballistic protective vehicles in Phase-II. The Chinese authorities have expressed their willingness to cooperate in infrastructure, energy, minerals, industrial development, science and technology, safety and security, small livelihood assistance, people-to-people exchange, and the digital economy.
To ensure smooth implementation of CPEC projects during Phase-II, Beijing has proposed a cooperation mechanism between the two governments, including the establishment of a CPEC joint commission.
A Pakistani delegation is scheduled to visit Beijing next week to participate in the Global Transport Forum on September 26 and to address issues hindering the initiation of work on the nearly $7 billion Mainline-I project of CPEC.
Key projects included in Phase-II are the completion of ML-I, Karachi Circular Railway, Karakoram Highway (Thakot-Raikot) section, technical support for New Gwadar International Airport, the second phase of the Eastbay Expressway, reconstruction of the N-50 highway, submarine cable construction project, deepening of the Gwadar port, and development of the Gwadar free zone.