Pakistan: The unveiling of five new economic corridors under the China-Pakistan Economic Corridor’s (CPEC) second phase marks a significant step toward deepening bilateral cooperation and fostering sustainable development in Pakistan. Federal Minister of Planning, Development, and Special Initiatives Ahsan Iqbal and Chinese Ambassador to Pakistan Jiang Zaidong announced the launch of these corridors, including growth, job creation, innovation, green energy, and inclusive regional development corridors. These initiatives are set to usher in a new era of economic prosperity and cooperation between the two nations.
Both the planning ministry and China’s National Development and Reform Commission (NDRC) will draft concept papers outlining the roadmap for each corridor, facilitating future sectoral development. By leveraging each other’s strengths and aligning with strategic frameworks, Pakistan and China aim to unlock new opportunities and propel mutual prosperity.
Jamshed Ahmed, Investment and Industrial Specialist at the CPEC Authority, highlighted the significance of these corridors in bolstering bilateral ties and advancing economic cooperation. He noted that a dedicated working group for the new economic corridors demonstrates a commitment to enhancing coordination and efficiency in project implementation.
The innovation corridor is expected to drive economic transformation by leveraging technological advancements and fostering innovation-led growth. China’s experience in infrastructure development and technology transfer is seen as complementary to Pakistan’s efforts to modernize its economy and improve connectivity.
In the second phase of CPEC, there is a pronounced emphasis on industrialization, notably through the development of special economic zones (SEZs). Each province will have one SEZ, with effective implementation and strategic alignment with Pakistan’s development priorities key to unlocking their full potential.
