Pakistan is entering an ambitious second phase of the China-Pakistan Economic Corridor, dubbed CPEC 2.0, which will pivot towards fostering direct business-to-business partnerships and strengthening investment opportunities, Prime Minister Shehbaz Sharif announced today.
Addressing the concluding session of the two-day Regional Transport Ministers’ Conference, the Prime Minister declared that Pakistan is actively developing multiple connectivity projects designed to initiate a new period of enhanced trade, economic cooperation, and energy collaboration throughout the region and beyond.
He described the initial stage of CPEC as a “transformative experience,” establishing a vital gateway for connectivity, opportunity, and cultural exchange. This monumental project has brought markets and people together across China, Central and South Asia, and the Middle East by successfully linking the Gwadar port with China.
With the success of the first phase, Mr. Sharif informed the delegates that the nation is now entering a “very exciting” second stage. This new chapter will center on encouraging partnerships between commercial enterprises and improving investment prospects for Chinese companies as well as firms from friendly and brotherly countries.
The Prime Minister also highlighted Pakistan”s strategic maritime position, noting its long coastline with ports in Gwadar and Karachi offers key transit points on the maritime Silk Road. Additionally, the government is concentrating on major rail linkage ventures like the Trans-Afghan Railway and the Islamabad-Tehran-Istanbul corridor, which he termed a “great opportunity to revolutionize cross-border trade.”
Enhanced air links to Central Asian Republics, along with frameworks for international road transport, are anticipated to bring a “quantum jump” in commerce, joint venture investment projects, and interpersonal contacts, the audience was told.
Parallel to these physical infrastructure developments, Mr. Sharif stated that Pakistan is also investing in its digital infrastructure to stay current with the fourth industrial revolution. He emphasized that the nation”s youth, comprising sixty percent of the population, are being provided with opportunities in IT, artificial intelligence, and vocational training.
He concluded by referring to this young demographic as Pakistan”s greatest asset, predicting they will become the “harbinger of Pakistan”s speedy progress and prosperity in times to come.”