DURING Pak-US strategic level parleys in Washington, the United States has also reportedly put its weight behind multi billion dollars China Pakistan Economic Corridor project while recognizing its importance for the socio economic development of Pakistan. Minister for Planning and Development Ahsan Iqbal, who is overseeing implementation of the corridor project, was also in the US capital spelling out the immense significance of the gigantic project for the national development.
As far as the US acknowledgement of the CPEC is concerned, it is a very encouraging and welcome development. We say so because the $46 billion dollar corridor project is specifically economic related which will benefit not only Pakistan and China but the entire region and beyond that. Many economic institutions and countries have rightly dubbed this as a game changer project whose benefits will reach far and wide. The CPEC is a very important component of Chinese President Xi Jinping’s ‘One Road One Belt’ initiative which was launched in 2013 with the aim to connect major Euroasian economies through infrastructure, trade and investment. This visionary initiative of the Chinese President will enhance connectivity amongst different countries while reaching as far as Moscow, Rotterdam and Venice for the greater good of the peoples of the entire world. In today’s modern world, economy and putting it rather on sustainable footing has become a major issue but unfortunately most nations are unable to give it due focus due to over politicization of their societies. It is in this backdrop, we believe the ‘One Road and One Belt’ is very timely which will stimulate Asian and global economic growth and make it more sustainable.
The mega initiative will specifically enable the developing countries to gear up their economic activities through greater integration with other economies that are bigger in size. As the mega initiative will enhance economic interdependence, therefore, it will also help build harmonious relations amongst different countries. On the CPEC, it is heartening to note that stray voices from handful elements have finally died down within the country while other important nations including the United States are also coming forward in support of it. We are sure this development will augur well for the prosperity and peace of the entire world.