Assalamualaikum!
I hope you all are doing well. Today I'll discuss a topic that is CPEC. CPEC is the game changer for Pakistan's economy.
Pak-China Relationships
China and Pakistan have deep relationships with each other since 1955 when prime ministers of both countries met each other in Indonesia. China helps Pakistan in every sphere of life. China also lent a helping hand to Pakistan in war in 1965 and 1971. These relationships grew more when silk road was build. There relationships will grow more through CPEC.
CPEC
CPEC stands for ( China Pakistan Economic Corridor). It is the road that links newly build Gawadar port to historical city of China kashghar.
CPEC was officially announced in 2015 when Pakistani Prime minister Nawaz Sharif and Chinese President signed 51 agreements. It is a three phase program.
Phase-I
2015-20 focuses on infrastructure development and energy.
Phase-II
2020-25 on industrialization and economic development.
Phase-III
2025-30 focuses on regional connectivity and trade.
Significance
The significance purpose of CPEC is to establish trade relationship with China.
Important for China
CPEC is very important for China.
. There are many undeveloped countries in China. CPEC will give a noticeable change to these areas.
. It will connect China to other countries
. It will also provide a chance to Chinese Capitalists to trade and establish their business
Important for Pakistan
CPEC is very important for Pakistan.
. China is investing billions of dollars on energy. It will remove energy shortage in Pakistan.
. It will help Pakistan to stable its economy.
. Since this road is passing through many areas of Northern Pakistan, so it will give a chance to their people to earn their livelihood.
So that was all about CPEC
I hope you like it.