Pakistan, China discuss progress of CPEC projects, connectivity with Central Asia
Since 2013, Beijing has invested tens of billions of dollars in energy and infrastructure projects in Pakistan as part of CPEC, a major segment of China's Belt and Road Initiative that aims to build land and maritime trade routes linking Asia with Africa and Europe.
In May, Pakistan and Afghanistan agreed to the expansion of CPEC to Afghanistan after the recent trilateral meeting in Beijing, while Pakistani and Chinese leaders have invited Central Asian republics in recent years to join CPEC to enhance regional connectivity and economic cooperation.
At the meeting in Islamabad, both Pakistani and Chinese officials discussed the progress of ongoing CPEC projects and preparations for the upcoming Pakistan-China Joint Cooperation Committee (JCC) meeting, where key decisions are expected to be made.
'Connecting CPEC to Central Asian states will contribute to regional economic stability and economic cooperation,' Iqbal said as he reiterated his government's commitment to ensuring security of CPEC projects, according to PID.
Despite massive Chinese investments, Pakistan has struggled to keep up its financial obligations regarding CPEC, while the undertaking has also been hit by militant attacks in recent years.
Iqbal previously said the two sides will hold the JCC meeting at the end of July, at which they will approve roadmap for CPEC's Phase 2. The next phase would be based on five corridors, relating to growth, innovation, livelihoods, green energy, and open and inclusive development in the region, he told reporters at a briefing in Islamabad last month.
Speaking at Sunday's meeting, he said the development of Gwadar port, which lies at the heart of CPEC in Pakistan's Balochistan, and Special Economic Zones was top priority of his government.
'The government is committed to fully capitalizing on the port's trade potential,' he said.
During the meeting, Ambassador Jiang reaffirmed China's commitment to supporting Pakistan's development efforts, according to PID.
'He assured that bilateral cooperation will continue to expand in the coming years,' it said.
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