Pakistan and China vow to press ahead with CPEC

Pakistan and China vow to press ahead with CPEC

Subject :International Relations

Section: Groupings

Context: Pakistan and China held their fourth edition of the Pakistan-China Strategic Dialogue on Saturday where both affirmed to continue their commitment to the China-Pakistan Economic Corridor (CPEC), a day after India criticised the multi-billion-dollar infrastructure project.

What is CPEC:

• CPEC is a 3,000-km long route of infrastructure projects connecting China’s northwest Xinjiang Uygur Autonomous Region and the Gwadar Port in the western province of Balochistanin Pakistan.
• It is a bilateral project between Pakistan and China, intended to promote connectivity across Pakistan with a network of highways, railways, and pipelines accompanied by energy, industrial, and other infrastructure development projects.
• CPEC is a part of the Belt and Road Initiative.
• The proposed projects in CPEC will be financed by heavily subsidised loans that will be disbursed to the Government of Pakistan by Chinese banks.

What is India’s Stand on CPEC:

• India has been severely critical of the CPEC, as it passes through Pakistan-occupied Kashmir, which is a disputed territory between India and Pakistan.

What is Border Road Initiative(BRI):

• Belt & Road Initiative is an ambitious project that focuses on connectivity and cooperation among multiple countries spread across the continents of Asia, Africa, and Europe.
• BRI was announced in the year 2013.
• The project has a target completion date of 2049, which will coincide with the centennial anniversary of the People’s Republic of China (PRC)’s founding.
• The project involves building networks of roadways, railways, maritime ports, power grids, oil and gas pipelines, and associated infrastructure projects.
• The project covers two parts.
• Silk Road Economic Belt: It is land-based and is expected to connect China with Central Asia, Eastern Europe, and Western Europe.
• 21st Century Maritime Silk Road: It is sea-based and is expected to connect China’s southern coast to the Mediterranean, Africa, South-East Asia, and Central Asia.