Pakistan and China agree on the second phase of CPEC
Pakistan and China have agreed to further accelerate the second phase of the China-Pakistan Economic Corridor (CPEC) and strengthen political and institutional cooperation between the two countries. This decision was reached during recent meetings between high-level officials from both nations, with the aim of ushering in a new era of economic development.
The second phase of CPEC will primarily focus on the sectors of industrialization, agriculture, and technology. Under this project, Special Economic Zones will be established in Pakistan to boost the country's exports and provide local industries with access to modern technology.
Officials state that this cooperation will not only stabilize Pakistan's economy but also create new employment opportunities. Both countries have emphasized that mutual communication will be further improved to ensure the timely completion of projects, thereby removing obstacles in development work.
Under this partnership, attention will be given to socio-economic development projects alongside energy and infrastructure. China has reiterated its full support for Pakistan's economic recovery, which will further deepen the long-standing ties of friendship between the two nations.
This development is being hailed as a significant step for Pakistan's economic progress. According to experts, the investment under CPEC 2.0 will prove helpful in establishing Pakistan as a key trade hub in the region.