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On February 4, 2022, Pakistan signed a new agreement with China to start second phase of USD 60 billion China-Pakistan Economic Corridor (CPEC).
Framework Agreement on Industrial Cooperation
On the occasion, Framework Agreement on Industrial Cooperation was also signed with the aim of:
China–Pakistan Economic Corridor (CPEC)
CPEC is a collection of infrastructure projects, which are under construction throughout Pakistan. It started in 2013. This project was originally valued at USD 47 billion. Its value has increased to worth USD 62 billion as of 2020. CPEC project focuses on rapidly upgrading Pakistan’s required infrastructure and strengthening its economy by constructing modern transportation networks, special economic zones and numerous energy projects. It is a 3,000-km long route of infrastructure projects, to connect China’s northwest Xinjiang Uygur Autonomous Region to Gwadar Port in western province of Balochistan in Pakistan.
By: Brijesh Kumar ProfileResourcesReport error
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