China, Pakistan Recommit to USD64B CPEC Expansion
(MENAFN) In a key diplomatic exchange on Wednesday, the foreign ministers of Pakistan and China reviewed the advancement of the multibillion-dollar China-Pakistan Economic Corridor (CPEC), as confirmed by an official release.
Pakistani Foreign Minister Ishaq Dar held talks with Chinese Foreign Minister Wang Yi on the sidelines of the Shanghai Cooperation Organization (SCO) Council of Foreign Ministers summit in Tianjin, the Pakistani Foreign Ministry stated.
The meeting underscored the enduring strength of the countries’ All-Weather Strategic Cooperative Partnership. Both leaders voiced satisfaction over their deepening collaboration across multiple sectors.
Reaffirming their mutual resolve, the two sides committed to bolstering bilateral cooperation with the goal of enhancing regional peace, stability, and development, the ministry added.
This marks the third diplomatic engagement between Dar and Wang since military tensions flared between Pakistan and India in May. Their earlier meetings took place in Beijing and Hong Kong.
That same month, China, Pakistan, and Afghanistan reached a consensus to extend the CPEC framework into Afghan territory.
Valued at $64 billion, the CPEC initiative serves as a cornerstone of China’s Belt and Road Initiative (BRI). The project links Xinjiang, in China’s northwest, with Pakistan’s Gwadar port in Balochistan via a vast network of highways, railways, and pipelines for the transport of goods, oil, and natural gas.
Launched in 2013, the BRI is China’s ambitious global infrastructure strategy aimed at improving trade and economic integration along the historic Silk Road. Over the past decade, the initiative has steered a significant portion of China’s foreign investment into building infrastructure, transportation corridors, communication systems, and other connectivity projects across partner nations.
In addition to his talks with Wang, Dar also held separate bilateral meetings in Tianjin with Russian Foreign Minister Sergey Lavrov, Iranian envoy Abbas Araghchi, Kyrgyz Foreign Minister Kulubaev Zheenbek Moldokanovic, and Kazakh Foreign Minister Murat Nurtleu.
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