China, Pakistan CPEC agreement                                                                      

                         

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Context: China and Pakistan signed a new agreement on industrial cooperation as part of the China Pakistan Economic Corridor (CPEC) plan.

 

About China Pakistan Economic Corridor (CPEC) plan:

• It is aimed at boosting Chinese investment in Pakistan as well as transferring Chinese industrial capacity.
• The first phase primarily involved Chinese investments in energy projects as well as road infrastructure.
• The industrial cooperation agreement is a key part of “phase two” of CPEC.
• This corridor links Xinjiang with Gwadar.
• It passes through Pakistan-occupied Kashmir (PoK) where China is investing in a number of projects.
• It will “promote industrialization and development of economic zones, and initiate, plan, execute, and monitor projects, both in public as well as private sector”.

 

China response:

• China describes CPEC as a “flagship project” of the Belt and Road Initiative.

https://www.thehindu.com/news/international/china-pakistan-ink-new-cpec-agreement/article38378944.ece