LAHORE – Saudi Arabia has decided to fully join the Multi-billion dollarsChina Pakistan Economic Corridor (CPEC) project and make the Gwadar Portcity as Oil City.
Saudi Arabia is expected to join the Belt and Road Initiative (BRI) of theChinese government.
With Saudi Kingdom Joining the corridor, the three stakeholders would speedup the efforts to complete projects as soon as possible.
Moreover, owing to Pakistan’s strategic location and heavy mineralresources, Saudia Arabia is going to make Gawadar’s port city to an oilcity.
Pakistan needs $9 billion to run state affairs and it will overcome itsdifficulties with the heavy investment coming from China and Saudi Arabia.
In September 2017 Saudi Ambassador to Pakistan, Nawaf Saeed AhmedAl-Malkiy said that Saudi Arabia would “soon” undertake investments atGwadar Port and join the China-Pakistan Economic Corridor (CPEC).
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Saudi Arabia is one of the many countries who have shown keen interest toparticipate in the China-Pakistan Economic Corridor (CPEC), primarily torelate its economy with China and take steps in achieving its 2030’s Vision.
The vision of the KSA 2030 Plan is to make the diverse economy in megaprojects like powerhouses and energy to turn from its oil dependency.
One of the pillars of their vision plans to use its unique location andbecome a global hub for vast economic activities. CPEC would provide them anetwork of great trade pattern to engage even better in the world tradetraffic.
