Abstract :
China-Pakistan Economic Corridor (CPEC) is a multi-dimensional project under One Belt and One Road initiative which is the sign of new era of economic ties between the two close friends. The project will not only boost Pakistan’s economy but it will also serve for the development of different regions and other countries of the world. The grand plan initiated in 2017 and will complete in 2030 with all its mega and mini projects. The CPEC is a Marshall plan of infrastructure, communication, investment, industrial zones, Gwadar Port, technological development, agro-economy and economic development of both China and Pakistan. The study will highlight the strength of CPEC through its socio-economic development and it will be the source of more opportunities and improvement of state, and society. The projects will also contribute for the economic and commercial strength of Pakistan economy and strengthen country by its financial assistance. Moreover, CPEC will provide China with a shortest trade route to South, Southwest Asia, Africa and Europe. The project will equally benefit to China’s Xinjing province through the increasing economic interdependence and cooperation and with the spirit of mutual development and progress. Nevertheless, the project is important for China and Pakistan and it will bring economic avenues to Pakistan and can improve trade activities for both China and Pakistan. It has also assumed that the dream of regional economic integration will become true through CPEC and regional economic connection could be the Asian century. Finally, the CPEC will foster economic community in the world and prosperity will promote peace, harmony and coordination.
Keyword :
CPEC, China-Pakistan Economy, Infrastructural Project, Regional Connection, Trade, Opportunities, Tourism and Financial cooperation.