The document outlines the Pak-China Economic Corridor (CPEC), which began as a strategic alliance in 1972 and was formally proposed in 2013, involving $46 billion in projects aimed at enhancing economic cooperation. Key benefits include improved trade routes for China and significant economic boosts and infrastructure development for Pakistan. Ultimately, the CPEC is seen as a crucial initiative that will strengthen ties and create new opportunities for both nations.
Project Proposed
TheProject was proposed by Chinese
President during his visit to Pakistan in May
2013.
The Pak-China Economic Corridor was
inaugurated in Islamabad on 27 August 2013.
On 20 April 2015, Pakistan and China signed
an agreement to commence work on the $46
billion on 51 Projects with approximately $28
billion in immediate projects and the rest
allocated for projects in the gas or oil pipeline.
Benefits Of China
ChinaEasy trade Between Middle east And
Africa.
China Direct Access To the Indian Ocean.
Chinese industries are facing problems to
compete in global market due to high
transportation cost and delivery time.
It would decrease 10,000 km travel distance.
Even if China uses PCEC for 50% of its Oil
supplies then it will save $6 Million every day,
almost $2 billion every year.
10.
Benefits Of Pakistan
Pakistaneconomy will Boost.
Pakistan can avail great opportunities from
chine’s expert in various sectors like energy
,Technology and Education sector.
Development of Infrastructure.
Development of Fata, KPK and Baluchistan.
Create new employment opportunities.
11.
Conclusion
As this projectis based on the mutual interest of
both countries. Through the mutual cooperation
both countries can attain their achievements.
This project will enhance their friendship. As it
consists of multiple projects so it will prove a
game changer for us.