Meanwhile, a two days historic convention of the CPEC Karamay-Xinjiang Forum ended with a declaration to focus on enhancing cooperation between the two countries in diversified fields.
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CPEC is a huge development project that would connect the Gwadar Port in southwestern Pakistan and Xinjiang, the northwestern autonomous region of China through a network of highways, railways, and pipelines to transport oil.
He said they will discuss the Demand and Current Situation of China-Pakistan Economic Corridor, Vision and Action in China-Pakistan Economic Corridor.
New Delhi has, at the same time, signed on to the China-backed Asian Infrastructure Investment Bank, which will fund at least some Silk Road projects, as the second-largest shareholder after China, committing $ 8 billion. Around 51 agreements were signed of which 30 were linked to this strategic corridor.
He said that the two countries have agreed on infrastructure projects totaling $6 billion which would upgrade connectivity from Khunjerab on the western border of China to the south of Pakistan to Gwadar in the first phase.
The CPEC will shorten the route for China’s energy imports from the Middle East by approximately 12,000 kilometers. The countries also promised to cooperate in education and healthcare.
He was speaking at CPEC Forum in Chinese city of Karamay on Wednesday.
It praised the significance of the Belt and Road Initiative and 21st Century Maritime Silk Road project for the political trust, economic cooperation and cultural exchanges between China and Pakistan.
As an initiative to strengthen the development of the China-Pakistan Economic Corridor on more concrete grounds, a high level delegation of Pakistani parliamentarian and officials have reached China on a three day visit. Chinese officials have, however, said the projects were “without prejudice” to the Kashmir dispute and were commercial ventures aimed at stabilising Pakistan. “This is sure to bring everlasting prosperity to the region”.
Furthermore, he emphasized that the recently established Parliamentary Oversight Committee would be responsible for monitoring the project.
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Hussain added that the project would improve the lives of Pakistanis and it also serves a main guarantee for the success of the country.
