ISLAMABAD — Chinese vice premier is expected to travel to Pakistan on Monday, July 31 to attend 10 years of China-Pakistan Economic Corridor (CPEC) celebrations.
Sources familiar with the development, on the condition of anonymity, told Pakistan Observer that Iron Brothers Islamabad, and Beijing are celebrating the 10th anniversary of the flagship project of the Belt and Road Initiative at the end of this month with renewed vigor and anticipation.
China, having invested close to $30 billion in energy and infrastructure projects over the past decade in the South Asian nation, is set to commemorate this milestone during the anticipated visit of a high-ranking Chinese leader.
The high-profile visit to join in the festivities is touted as a major event before Pakistan’s elections and also marks the first high-level interaction between the two nations since the Chinese leader embarked on their third term in March, alongside the emergence of a new generation of Chinese leaders.
The identity of the visiting vice premier remains undisclosed, adhering to the request of local authorities, however, the country’s federal capital Islamabad is adorned in Pak-Chinese themed lights to give a warm welcome to Chinese vice premier.
During the upcoming visit, both sides are likely to discuss the progress of the CPEC and the strengthening of bilateral ties.
For the unversed, the second phase of CPEC, which includes special economic zones, faced delays due to policy changes under the PTI government. However, since the change in government in April of the previous year, CPEC regained momentum. China’s financial support to Pakistan during challenging times has been instrumental, enabling the nation to manage its foreign reserves and avoid sovereign default.
Amidst ongoing geopolitical shifts and concerns regarding the deepening China-US rivalry, Pakistan remains committed to its long-term strategic partnership with China. Despite the US’s democracy summit, Pakistan opted to stay away to prevent any potential negative fallout of aligning with China, which the West perceives as a powerful bloc. Islamabad maintains its stance on maintaining cooperative relationships with all influential countries.
The upcoming visit of the Chinese vice premier signifies the continued strength of the China-Pakistan alliance and reinforces Pakistan’s commitment to its strategic cooperation with China, despite external pressures. The occasion will likely draw significant attention from Western countries and those opposed to Beijing’s influence in the region.
Pakistan’s Special Investment Facilitation Council (SIFC) has been established to attract foreign investment and address the country’s economic challenges. As the CPEC enters its next phase, Pakistan aims to secure China’s support for its ambitious initiatives.
A potential visit after the parliamentary elections holds promise for further strengthening economic ties and advancing the long-term objectives of the CPEC. This visit is set to be a crucial turning point in the relationship between the two nations, enhancing cooperation and mutual development for years to come.
