China and Pakistan reaffirmed their commitment to develop the second phase of the China-Pakistan Economic Corridor (CPEC), the two countries announced on Saturday.
The remarks came after Chinese Vice Foreign Minister Sun Weidong and Pakistan Foreign Minister Amna Baloch met in Beijing on Friday for the fourth round of diplomatic talks at the vice-ministerial level.
“The two countries agreed that China and Pakistan are firm friends and all-weather strategic cooperation partners, further cementing the long-standing friendship between the two countries,” China’s Ministry of Foreign Affairs said in a statement on Saturday. said.
CPEC 2.0
The two foreign affairs officials also co-chaired the fifth meeting of the CPEC Joint Working Group on International Cooperation and Coordination (JWG-ICC) on Friday.
The Chinese government said the two countries agreed on the need to “upgrade” CPEC.
The agreement, signed in 2015, commits China to investing billions of dollars in Pakistan’s infrastructure.
The project is part of China’s massive Belt and Road Initiative (BRI), which aims to develop trade routes to connect the world.
Islamabad on Friday said “quality development” under CPEC 2.0 will focus on industrialization, special economic zones (SEZs), clean energy, agriculture and livelihood projects.
A statement from Pakistan’s Ministry of Foreign Affairs posted on social media said, “Both sides reiterated their firm determination to elevate the iron-clad relationship between Pakistan and China to a new pedestal of cooperation and collaboration.”
Pakistan’s economic hurdles
Chinese investment in the region faces challenges posed by political instability, economic stagnation, and energy supply issues.
Earlier this week, hundreds of Pakistani protesters blocked part of a major highway that forms part of CPEC in protest against power outages.
Locals in the snowy state of Gilgit-Baltistan suffered power outages for more than 20 hours in temperatures of -15 degrees Celsius (5 degrees Fahrenheit).
Demonstrations on the Karakoram Expressway in the Hunza Valley prevented dozens of cargo trucks from entering China.
Pakistan hopes that increased investment from China will ease its economic woes.
With input from AFP and AP.
Editor: Alex Berry
