China-Pakistan Economic Corridor (CPEC):
Pakistan and China decided to welcome any third country joining the multi-billion dollar China-Pakistan Economic Corridor (CPEC).
- In context to Afghanistan, it had broken new ground in strengthening international and regional connectivity.
- Earlier, Pakistan signed a new agreement with China to begin the second phase of the USD 60 billion China-Pakistan Economic Corridor (CPEC).
- CPEC is a 3,000-km long route of infrastructure projects connecting China’s northwest Xinjiang Uygur Autonomous Region and the Gwadar Port in the western province of Balochistan in Pakistan.
- It is a bilateral project between Pakistan and China, intended to promote connectivity across Pakistan with a network of highways, railways, and pipelines accompanied by energy, industrial, and other infrastructure development projects.
- It will pave the way for China to access the Middle East and Africa from Gwadar Port, enabling China to access the Indian Ocean and in return China will support development projects in Pakistan to overcome the latter’s energy crises and stabilising its faltering economy.
- CPEC is a part of the Belt and Road Initiative.
- The BRI, launched in 2013, aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes.
One Belt One Road (OBOR):
- It is a multi-billion-dollar initiative launched in 2013.
- It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes.
- It has been launched to undertake big infrastructure projects in the world which in turn would also enhance the global influence of China.