China, Pakistan sign deals to beef up CPEC project

August 13, 2015

China and Pakistan have signed 20 more agreements worth 1.6 billion dollars to implement the ambitious China-Pakistan Economic Corridor (CPEC) project.
These agreements were signed at the CPEC Forum held at Karamay city in Xinjiang province of China bordering Pakistan-occupied Kashmir (PoK). In this forum both countries also issued the Karamay Manifesto.

About China-Pakistan Economic Corridor (CPEC) project

3,000 km strategic CPEC project is brainchild of China and is part of its ambitious six economic corridors conceived under Silk Road Economic Belt and 21st-Century Maritime Silk Road.
It connects Xinjiang Province of China with Pakistan’s strategic Gwadar Port and passes through PoK.
It was launched by Chinese President Xi Jinping during his visit to Pakistan in April 2015.
During this visit, around 51 agreements were signed of which 30 were linked to this strategic corridor.
Significance: CPEC project seeks to boost economic cooperation, political trust and cultural exchanges between China and Pakistan.
It is regarded as the biggest connectivity project between the two countries with total investments around 46 billion dollars.
The project includes building of railways, highways as well as pipelines in order to shorten China’s energy imports route from the Middle East by about 12,000 kms.
India’s Concern: As it passes through disputed territory of PoK, India has conveyed its objections to China.