Pakistan Poised for Enhanced Opportunities as BRI Enters Second Decade: Ahsan Iqbal

The'Belt and Road Initiative'(BRI) spearheaded by China resonates deeply with Pakistan's national development agenda and strategic objectives. Over the past decade, this ambitious initiative, particularly through theChina-Pakistan Economic Corridor(CPEC), has significantly uplifted the nation's economy and improved citizens' quality of life. Looking forward, BRI is set to further empower Pakistan's role in fostering greater economic linkages among Central and South Asian powers, positioning the region as a future epicenter of global economic activity.

Embracing this momentum, the Pakistani government is committed to pursuing expanded trade endeavors, with a particular focus on fostering business-to-business (B2B) collaborations. During CPEC's subsequent phases, efforts will also be directed towards establishing links between business educational institutions in both nations and guiding the Pakistani business sector to better grasp the intricacies of the Chinese market.

These insights were shared by Professor Ahsan Iqbal, the Federal Minister for Planning and Development, during a recent interview.

Minister Iqbal highlighted that CPEC represented a convergence of Pakistan's Vision 2025 and China's BRI. He emphasized its crucial role in channeling investments into sectors that were previously hindering Pakistan's economic growth.

As an enduring strategic ally of China and a primary recipient of the BRI's advantages, Pakistan has witnessed substantial improvements across its energy, infrastructure, technology, and industrial domains since CPEC's inception.

The Minister detailed some of these achievements: "Over 5,000 megawatts of new power generation capacity were established during a period of severe energy deficits in Pakistan. CPEC has also been instrumental in developing modern infrastructure, including the M-5 Sukkur-Multan Motorway, the Hakla-D.I Khan Motorway, and the Gwadar East Bay Expressway. Furthermore, a new digital backbone connecting Pakistan and China through a fiber optic cable has significantly bolstered Pakistan's digital infrastructure." He added that "the second phase of CPEC aims to transform Pakistan into an industrial economy, primarily through the establishment of special economic zones and enhanced government-to-government collaboration."

As China prepares to commemorate the tenth anniversary of its landmark Belt and Road Initiative this year, Minister Iqbal joins other proponents in asserting that the initiative's enduring strength and dynamism stem from its collaborative construction. This approach, he noted, aligns with the global trend of economic integration, addresses contemporary calls for reforming the international governance framework, and responds to the universal aspiration of people worldwide for improved livelihoods.

Minister Iqbal further projected, "At CPEC's inception, Pakistan introduced Vision 2025, identifying regional connectivity as a key catalyst for national growth. We anticipate significantly increased regional integration once CPEC reaches its completion." He concluded by stating, "By enhancing connectivity across Central Asia, South Asia, and China, we possess the potential to foster shared prosperity for more than three billion individuals inhabiting this vast region."