China-Pakistan Economic Corridor will stabilize region, says ambassador

China-Pakistan Economic Corridor will stabilize region, says ambassador

Pakistan's Ambassador to China Masood Khalid has reiterated his country's commitment to the success of the China-Pakistan Economic Corridor (CPEC) and said that both countries were working to develop conditions for its successful completion.

The ambassador expressed his views during a speech at a seminar on the topic "The broad future of China-Pakistan Economic Corridor" organized by the China Overseas Investment Union, in the context of One Belt One Road initiative, in Tianjin on Tuesday.

"From the lofty terrains of China to that of Central Asia, the Middle East and Europe, this revival of the fabled Silk Road will bind communities and economies together. We are fully aware that CPEC is first in a series of projects linking countries and regions and are thus committed to realize it," Khalid says.

The CPEC is a 3,000-km network of roads, railways and pipelines to transport oil and gas from southern Pakistan's Gwadar Port to Kashgar city, northwestern China's Xinjiang Uygur autonomous region.

The ambassador said CPEC was an agenda for mutual prosperity of both Pakistan and China and the wider region. It was a recipe for economic development, enhanced trade and energy security and critical for peace, prosperity and well-being of the people of the two countries, the region and the world. He termed it a model of win-win cooperation for all the countries in the region.

"CPEC thus has the potential to transform the entire region into a stable, prosperous, peaceful and vibrant region,' he said.

He said the government of Pakistan has created a conducive investment climate including easy tariff structures and liberal policies on repatriation of profits.

With military action against terrorists, the security situation had considerably improved and specific measures had been taken in regard to safety of the Chinese workers, he said, adding that he was confident the measures would guarantee the long-term success of the China-Pakistan Economic Corridor.