Pakistan, China agree to align development plans, launch CPEC 2.0

Pakistan and China agreed to align their development strategies and build an upgraded version of the China-Pakistan Economic Corridor, known as CPEC 2.0, during wide-ranging talks in Beijing that also covered political ties, security cooperation and regional and international issues.

The Seventh Round of the Pakistan-China Foreign Ministers’ Strategic Dialogue was co-chaired in Beijing on January 4 by Chinese Foreign Minister Wang Yi and Pakistan’s Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, who was visiting China from January 3 to January 5 at Wang’s invitation, according to a joint press communiqué issued at the conclusion of the talks on Monday.

During the dialogue, the two sides exchanged views on strategic and political cooperation, defence and security, economy, trade, investment, and cultural and people-to-people exchanges. They also discussed international and regional issues of shared interest and agreed to enhance strategic communication, deepen strategic mutual trust, safeguard common interests, and promote economic and social development in both countries, as well as peace and prosperity in the region and beyond.
As part of their economic engagement, Pakistan and China agreed to develop an upgraded CPEC, a pioneering project of the Belt and Road Initiative. The two sides said the new phase would focus on the key sectors of industry, agriculture and mining, promote the building and operation of Gwadar Port, ensure the smooth passage of the Karakoram Highway, and enhance Pakistan’s capacity for sustainable development.

They also agreed to deepen cooperation in trade and investment, information technology, science and technology, cybersecurity, technical and vocational training and education, and people-to-people and cultural exchanges. The two sides stated that the year-round opening of the Khunjerab Pass would facilitate two-way trade and further strengthen people-to-people contacts. They also welcomed third-party participation in CPEC cooperation in accordance with the modalities agreed by both countries.