Hira Hafeez

The China-Pakistan Economic Corridor (CPEC) is a deep-rooted tie between China and Pakistan. It is also a glaring and reflection of China-Pakistan friendship. The CPEC is an endorsement and continuation to the enhancing bilateral friendly relations between two countries. It is a commercial project and bilateral agreements which were signed between both China and Pakistan during the state visit of Chinese President Xi Jinping to Pakistan in April 2015. The CPEC is a mega project of 51 billion of US dollar of Chinese investment that incorporates infrastructure and energy projects. It has been said that the CPEC is a corridor of opportunity and in fact, it would also be a corridor of peace and prosperity among the regional powers too.

The term economic corridor was first used by Asian Development Bank in 1998 which defines it as important networks or connections between economic agents along a defined geography which links the supply and demand sides of markets. The Economic Corridors are the integrated transport networks of infrastructure within a geographical area which are designed to stimulate economic development. It facilitates not only the movement of goods and services. It also strengthens the exchange of information as well as people’s migration.

It provides important connections between economic nodes or hubs that are usually centered in urban landscapes. In real term, economic corridors are supposed to be functioned as a connector as well as purpose-built and to link connectivity, Logistic flows, production, development and commerce development and infrastructure within particular geographic structures. These physical infrastructures have to undertake a task of the center of economic activities.

On the one hand, an economic corridor has, as usual, an Urban-centered outlook and it benefits only to urban areas but on the other hand, it broadens benefits to rural areas as well through the development of transportation, inclusive development, broader economic policy and economic development as well as a connection for production activities.

In a long run, it paves the way for the financial integration, civilization integration, employment promoting, standardized trade facility and financial management. It also supports historical, social and economic complementariness and people to people cultural ties.

The CPEC project seeks to rapidly expand and upgrade infrastructure across the length and breadth of Pakistan as well as deepen and widen economic links with its ‘iron brother’ China. The CPEC is essentially a significant part of regional initiatives led by China known as the One Belt One Road (OBOR) economic development. The OBOR concepts consist of two ambitious development proposals. One arm is the land based known as New Silk Road Economic Belt (SREB) whereas another arm is the sea-based known as 21st Century Maritime Silk Road (CMSR).

Both China and Pakistan have agreed to build One Belt One Road project more commonly known as China-Pakistan Economic Corridor is expected to bring the new era of peace and prosperity in South Asian region. This corridor will incorporate 2,000-kilometer transport link between Kashgar in North-West China to Pakistan’s Gwadar port on the Arabian Sea near the border with Iran via roads, railways and pipelines.

There are many internal and external challenges for the Pakistani government to implement this multi-dollar project. However, it’s a game changer project which will transform the fate of Pakistan and will help to achieve economic gain. It will improve the economy and trade, enhances regional connectivity, develop infrastructure and establish people to people contacts on both sides.

 The CPEC is the part of China’s vision One Belt One Road and this is the Southern corridor of Silk Road project. China is the new emerging power in the world. The importance of the CPEC is beyond the imagination.

Gwadar to Kashgar route will not only decrease the distance between China and Middle East but will also provide a safe and secure way of oil to China. Basically, the CPEC is the name of multiple roads of one corridor.

Moreover, the importance of this corridor is also reflected in the statement of Xi Jinping during his visit to Pakistan in 2015, he said that “this will be my first trip to Pakistan, but I feel as if I am going to visit the home of my own brother’ Moreover, it is a combination of cross-sectional components, infrastructure, trade connectivity, transport, energy services, industrial cooperation and so on.

However, regional connectivity and economic development are two major aspects of the CPEC project. It consists of roads, energy stations, rail routes and oil and gas pipelines.

Gwadar port is actually the tail of the Silk Road which will connect Kashgar through different communication networks. Gwadar holds a central place in the project of the CPEC. Gwadar could play a key role in ensuring China’s energy security. It has been said that Gwadar will also put China and Pakistan in a strategically advantageous position along the Arabian Sea.

The CPEC from all counts will prove a game changer and will make China a real stakeholder in Pakistan’s economy, stability and security. It promises to boost Pakistan’s economy and provide employment and business opportunities for local. Foreign investors can be attracted to invest along the long route of the corridor. The CPEC projects have huge significance, it runs through one of the most important and vital geo-strategic locations of South Asia. It connects the whole region and gives Pakistan central importance for world trade. It holds promise to make Pakistan an economic power in the world in near future.

The CPEC is the ‘game changer’ project. There are many challenges for Pakistan in implementing of this project. At the same time, Pakistan will have many benefits from this corridor. The new great game will increasingly revolve around China’s one belt one road vision of land and sea connections between Asia, Europe and beyond. The CPEC is the first component of this ambitious vision.   The recent, inauguration of first  CPEC consignment shipment from the Gwadar deep sea port is the beginning of the new era of the economic prosperity and progress for the region in general and for Pak-China long-lasting friendship cum partnership in particular.

Writer has completed her Master’s in Political Science from the University of Karachi and a CSS aspirant.

Rian Maelzer 丨 CCTV.com

Former presidents and prime ministers joined with business leaders, academics and politicians at the World Chinese Economic Summit in Malaysia Thursday.

Optimism about the prospects for greater economic cooperation between China, ASEAN and beyond through initiatives like One Belt, One Road were tempered by worries about growing political tensions and concerns about the US’s possible backtracking on globalisation.

The line up of heavy hitters at the World Chinese Economic Summit included the former leaders of Indonesia, Pakistan, Australia and the Taiwan region.

They shared insights on China’s growing global stature, its economic outlook and the Belt and Road, and Asian Infrastructure Investment Bank initiatives.

But anxiety about the impact of Donald Trump’s victory in the US elections on trade liberalization was also a common theme.

“With the increasing likelihood that the Trans-Pacific Partnership or TPP will not be coming into existence it is even more imperative that the regional comp economic partnership, RCEP, with china as the main anchor be expeditiously concluded and possibly expanded.”said Prof. Surakiart Sathirathai,former Thai Deputy Prime Minister.

Former Indonesian President Susilo Bambang Yudhoyono urged China to exercise stronger leadership on global issues like climate change, UN reform and world trade.

“We all have much riding on the success of China's economic reforms recently undertaken by President Xi Jinping. China continues to be a driving force that is pulling the world economy today just as it helped pull the world out of the financial crisis in 2008.”said Susilo Bambang Yudhoyono,former President of Indonesia.

Speakers were universally enthusiastic about the Belt and Road initiative. But some cautioned that the benefits of individual projects must be seen to trickle down to ordinary people in participating countries.

Pakistan has been among the early beneficiaries of One Belt, One Road.

“The Pakistan-China relationship has always been our strongest and most enduring relationship. It is driven by peace harmony mutual respect and commonality of interests.” said Shaukat Aziz,former Pakistan Prime Minister.

Aside from sharing insights, the summit will also hope to have helped build business connections between the Chinese diaspora and China…ones that will lead to more trade and investment in years ahead.

Source CCTV

By DAILY SABAH WITH ANADOLU AGENCY

A 136-year-old dream of locals in Turkey's Rize province has come true as light is seen at the end of the Mount Ovit Tunnel. The tunnel is expected to ease the life of people in the region while contributing to trade

With the dual-drilling projects at Mount Ovit Tunnel between Turkey's Rize and Erzurum completed, a 136-year-old dream of the locals has been realized at long last. Marking the occasion, Prime Minister Binali Yıldırım on Friday attended a ceremony titled "Light at the End of the Tunnel."

The highway tunnel will connect Rize's İkizdere district and Erzurum's İspir district in northeastern Turkey and is expected to reinvigorate the historic Silk Road. Once finished, the 14.3-kilometer structure is going to be the longest highway tunnel in Turkey.

Following the completion of the excavation work at an altitude of 2,640 meter, businessmen in the region focused on the tunnel's potential contributions to trade. Cemal Şengel, chairman at Eastern Anatolian Exporters' Association (DAİB), told Anadolu Agency (AA) that Mount Ovit Tunnel will be the most important route connecting eastern Turkey to ports. In reference to the significance of the Baku-Tbilisi-Kars high-speed railway project, Şengel said when connected to other road projects the tunnel will help an uninterrupted link between the Silk Road and the Ural Mountains. Underscoring that logistics is the most important factor in trade he said the completion of this logistical network will help revive Erzurum and realize its full potential.

Tunnel expected to facilitate freight shipment to neighboring countries

Şengel further added the projects will make Erzurum a warehouse and storage hub, as Mount Ovit Tunnel, connected to ports, will facilitate freight shipment to neighboring countries. Defining the tunnel as an important investment for the developing region, Şengel noted that they have always supported such investments.

He extended his thanks to the government for the project, saying the tunnel, coupled with the Baku–Tbilisi–Kars high-speed railway project, will make the historic Silk Road more advantageous than ever.

"As the people of this region, now we need to build the infrastructure for such investments, including logistical warehouses and storages."

According to Şengel, a state sponsored "freight village" is being built on Erzurum's Mount Palandöken. This will enable Erzurum to gain the status of being the heart of the east. The will also contribute to the development of tourism, he said

Meanwhile, Erzurum Chamber of Commerce and Industry (ETSO) Chairman Lütfü Yücelik said that transport projects launched in the recent years will boost trade volume both in the city and throughout the region.

According to Yücelik, especially after Mount Ovit and Mount Kop tunnels are completed, Eastern Anatolia and Erzurum will get connected to foreign markets through ports.

"As long as we can produce export commodities, and fully take advantage of these projects, the region will have no problems with immigration and employment and will be an attractive business center," he said.

He as well pointed out the introduction of the Palandöken freight village, and hoped, once integrated into these projects it will further increase Erzurum's logistical importance.Yücelik claiming the Mount Ovit and Mount Kop tunnels were two crucial projects for the development of trade, said, "We hope Erzurum will regain its status as an important trade hub like it was in the old days, thanks to these major transport projects."

Features of Mount Ovit Tunnel

The tunnel, which will connect Rize to Eastern Anatolia, is 14,300 meters long, including a cover avalanche tunnel of 1,369 meters. The entrance grade of the tunnel will be 1,919 meters, exit grade will be 2,236 meters, and the inside slope of the tunnel will be 2.13 percent. A 1,710-meter approach tunnel with a 15-percent slope is being constructed for the ventilation of the tunnel, which is being built as twin tubes and will cost TL 800 million. With the launching of the tunnel, transportation between the Black Sea and Eastern Anatolia, which is adversely affected by heavy snow and dangers of avalanche, will be uninterrupted and safe in winter. With its completion, the 250-kilometer Rize-Erzurum highway will be reduced to just 200 kilometers.

MINSK, 10 November (BelTA) – Belarusian Economy Minister Vladimir Zinovsky invited Latvian businesses to become residents of the Chinese-Belarusian industrial park Great Stone as he met with a Latvian delegation led by Economy Minister Arvils Aseradens on 10 November, BelTA has learned. “Belarus is a good investment platform. We are building an industrial park in cooperation with China, and we invite all European companies, not only those of Belarus and China, to join the project. We would like to see Latvian companies in the park. Its residents are given good preferences,” Vladimir Zinovsky noted. He stressed that businesses can enjoy preferences not only in the industrial park Great Stone, but also in a number of free economic zones in Belarus. Vladimir Zinovsky said that the trade between Belarus and Latvia has declined recently. However, the minister expressed confidence that the countries have not yet exhausted their potential and will manage to improve the situation. “We are ready for open and constructive work.

Now it is important to catch up and switch to new forms of cooperation and projects with good economic returns,” the minister emphasized. He noted that Belarus seeks to develop fruitful and effective relations with Latvia and to strengthen the mutually beneficial economic cooperation. In this context, Vladimir Zinovsky said with satisfaction that Belarus' cargoes traditionally account for a considerable share of the total volume of Latvia's rail transportation. Belarus' and Latvia's participation in the large-scale Chinese projects Silk Road Economic Belt and 21st-century Maritime Silk Road will enhance the countries' appeal and intensify their cooperation in logistics.

Arvils Aseradens said that the relations between Belarus and Latvia are fruitful. He said that Latvia is eager to develop close economic cooperation. “There is great potential with respect to the Belarusian economy. I think we can expect the mutual trade to double,” he noted. Besides, the minister said that Latvia would like to cooperate with Belarus within China's One Belt, One Road project. Arvils Aseradens emphasized the importance of the Days of Latvia which are currently underway in Belarus. “It is very good that Belarusians will have a chance to learn about the life in their neighboring country,” Arvils Aseradens said.

Source Belarus News