Pakistan and China Begin Second CPEC Phase

Federal Minister of Planning and Development Ahsan Iqbal Chaudhary met with China’s Vice Minister of Foreign Affairs Sun Weidong to talk about stepping into the next stage of CPEC. Minister Ahsan Iqbal pointed out that the last time he met Sun in Pakistan, CPEC was just an idea however, an idea that has the potential to become a multibillion-dollar project.

Ahsan Iqbal said Pakistan is in an export based, technology led economy, but he said Pakistan is picking up from the Chinese way of development. He said the government’s Uraan Pakistan‘s Five Es vision is also aligned with this second stage of CPEC as in this stage the more focus is on skilled human workforce and innovation.

Ahsan Iqbal emphasized business-to-business cooperation and appreciated Chinese cooperation in the recent regional developments. On the Chinese side, Sun Weidong acknowledged their total commit to the economic sustainability of Pakistan from all sectors. Sun also commended the Five Es as a strong path toward economic viability and independence.

Overall, if this next stage of CPEC is backed by action, investment, and strong implementation, this could be a game changer for the Pakistan economy.

Read more: Phase-II CPEC: Transforming Pakistan’s Global Potential