During the visit of Chinese Vice Premier He Lifeng to Islamabad, Pakistan and China renewed their commitment to the China-Pakistan Economic Corridor (CPEC) Phase-II. The Vice Premier, a close ally of President Xi Jinping, met with Pakistan’s senior officials, including Prime Minister Shehbaz Sharif, President Arif Alvi, and Army Chief General Asim Munir. His three-day visit was intended to honor CPEC’s tenth anniversary, concluding in a renewed commitment from both sides to the ambitious economic corridor, which is a flagship project of the Belt and Road Initiative (BRI). His visit reiterated both countries’ commitment to the centerpiece project of the Belt and Road Initiative (BRI).Furthermore, to expedite the process, the two sides signed six essential documents, signaling a strong push to move forward with the mega project.
Strengthening the CPEC Moment
Until Vice Premier He Lifeng’s visit to Pakistan, the destiny of the CPEC was unknown. His three-day stay, however, acted as a watershed moment, signaling a definite intention to move the project forward. During the visit, six important Memorandums of Understanding (MoUs) were signed, reaffirming both countries’ commitment to the development of CPEC. High-level officials from both nations attended the signing ceremony, which marked the revitalization of CPEC under the current Shehbaz-led coalition government.
The Memorandums of Understanding (MoUs) addressed a number of critical issues of the CPEC project, including the establishment of an expert exchange system between the Planning Ministry and China’s National Development and Reform Commission (NDRC) to enhance knowledge-sharing for capacity-building collaboration. Another significant MoU included the protocol of phytosanitary regulations for shipping dried chilies from Pakistan to China, assuring the two countries’ smooth trading connection.
Revival of Neglected Projects
Under the leadership of Prime Minister Shehbaz Sharif, Pakistan’s coalition government has revitalized several CPEC projects that were previously neglected. The signing ceremony, attended by the Chinese delegation led by Vice Premier He Lifeng, and Pakistani ministers and officials, marked a decisive step towards further cooperation and progress. One of the significant projects to be expedited is the multi-billion-dollar Main Line (ML)-1 railway project, which has faced delays over the years. The commitment to push forward with the ML-1 initiative promises to revolutionize Pakistan’s transportation system, ensuring cost-efficiency and maximized economic returns.
A Decade of CPEC Achievements and Future Vision
The completion of the first decade of CPEC was celebrated with grandeur and reflection on its positive impact on Pakistan’s socio-economic development. Both Prime Minister Shehbaz Sharif and Vice Premier He Lifeng lauded the project for transforming Pakistan’s economic landscape, addressing infrastructure challenges, and overcoming power shortages. They reiterated their dedication to building on the achievements of the past decade and continuing their cooperation to make CPEC a high-quality demonstrable project of the BRI.
To commemorate the significance of the occasion, a special Postal Stamp, Commemorative Coin, and First Day Cover were issued, capturing the achievements made over the past ten years. Furthermore, a first Decade of CPEC memento was unveiled, symbolizing the partnership and futuristic vision between Pakistan and China.
The CPEC, initiated in 2013 after the visit of the Chinese Premier to Pakistan, has ushered in multiple projects in energy, transport infrastructure, port/airport development, and digital connectivity. Now, with the commencement of CPEC Phase-II, both countries have expanded their cooperation to encompass rural revitalization, agricultural development, industrialization, green development, and science and technology.
Vice Premier He Lifeng’s visit marks a milestone in strengthening economic ties between Pakistan and China. His instrumental role in executing certain CPEC projects while heading the NDRC from 2017 to 2023 has further solidified the partnership between the two nations.
In conclusion, the revival of CPEC Phase-II through the signing of six vital MoUs exemplifies the enduring friendship and collaboration between Pakistan and China. As the economic corridor enters a new decade, both nations are committed to enhancing regional connectivity, boosting economic development, and realizing shared progress through their partnership under the Belt and Road Initiative.
