Despite the deadly outbreak of Covid-19 virus in the world that has shaken the global economy, Pak-China economic cooperation is showing signs of revival as demonstrated with the arrival of the first bulk cargo ship ‘MV Manet’, carrying wheat and urea of Afghanistan transit trade, at the Gwadar international deep seaport, says report published by Gwadar Pro on Tuesday.
This development can be aptly termed as a big accomplishment within the framework of CPEC at a time when the development works are moving at a snail’s pace in other parts of the world.
According to the report, in this manner, China and Pakistan’s joint ventures are surpassing the pace and quantum of development activities in the rest of the world.
The prompt initiation of ML-1 Railway project under CPEC is another good initiative. Last Saturday, Pakistan’s Minister for Railways, Sheikh Rashid Ahmed, declared publicly that ML-1 project has been given serious thought vis-à-vis its different implementation phases.
The completion of ML-1 project will provide low-cost transportation for cargo and passengers, bringing benefits to 70 % of the population of Pakistan along ML-1.
A very important aspect of CPEC is that its energy projects are foreign direct investment (FDI), based on commercial contracts, which are in accordance with the standard clauses provided by the Pakistani government.
The CPEC is a pilot project of the Belt and Road Initiative and a mutually beneficial platform for comprehensive and substantive cooperation between the two countries whose top leaders reached consensus to promote a “1+4” pattern of economic cooperation.
Both sides agreed on the principles of scientific planning, step-by-step implementation, consensus through consultation, mutual benefit and win-win results, besides ensuring quality, safety, and environmental protection.