BEIJING – The China Pakistan Economic Corridor (CPEC), a flagship projectof Belt and Road Initiative (BRI), will create new business opportunitiesfor not only Pakistan but also other countries in South Asia andadjacent areas as it reshapes the regional economic landscape by shorteningtrade routes.
The B&R initiative has made headlines across South Asia, where leaders mustponder the future of regional economic integration in a bid to pursue themaximization of their local interests. Some countries in the region havethus witnessed frequent high-level bilateral exchanges, according toan article published by Chinese newspaper “Global Times” on Friday.
The image of Pakistan has improved as the country gives full support to theBelt and Road (B&R) initiative, announced by Chinese President, Xi Jinpingfor the shared prosperity of the mankind.
As an example, Pakistan’s Prime Minister Shahid Khaqan Abbasi was the firsthigh-level foreigndignitary to be received by KP Sharma Oli after Oli was sworn in as theprime minister of Nepal this month.
Nepal’s prime minister usually makes his first visit to India after beinginaugurated, so the invitation to Pakistan is seen as a sign that the twocountries may further strengthen economic cooperation.
Although the CPEC faces challenges, the economic corridor has become areality with the first shipment of Chinese goods through the Gwadar Port insouthwest Pakistan in 2016.The CPEC, a flagship project of the B&R initiative, helps Pakistan occupyan important positionin the trade route linking China and the West.
While Nepal extends an olive branch to Pakistan to enhance cooperation,Afghanistan has also shown an interest in being involved in the CPECprojects.
The B&R initiative is not designed as a political instrument to enhanceChina’s economic tieswith the participants, but as an open platform for all of them tostrengthen communication among themselves.
Active exchanges in various areas are brightening the picture for SouthAsian economies. Itseems the B&R initiative has played an increasing role in promotingeconomic integration.
Countries that have given a cool response to the B&R initiative may bebystanders to South Asia’s rejuvenation. This should be recognized byIndia. – APP