Conference Background and Aims
The relationship between Pakistan and China is transforming. Over the past several decades, the two nations' friendship has been defined by collaboration in sectors such as transportation (Karakorum Highway), energy (C1/C2/C3/C4 and K2/K3 nuclear power plants), heavy industry (Heavy Mechanical and Electrical Complexes), defense (JF-17 fighter planes), and the deep-sea port of Gwadar. Now with the announcement of multibillion dollar China-Pakistan Economic Corridor (CPEC) program – which is part of Chinese President Xi Jinping's flagship 'One Belt, One Road' initiative – the bilateral relationship will also be covering economic, business to business, trade, people to people and social development aspects.
According to CPEC Long Term Plan 2016 "the corridor construction should fuel economic growth of Pakistan and is expected to speed it up by 1.5 percentage points on the original basis from 2016 to 2020. And another 1 percentage point from 2020 to 2030. From 2016 to 2020, the growth rate of China-Pakistan trade will reach 24% and bilateral direct investment being 25%; from 2020 to 2030. The speed of trade growth should be 16% and that of bilateral direct investment will be 20%. Industrial added value should exceed by 1.5 percentage points. A total number of 500,000 to 800,000 new jobs will be created. The length of newly built or upgraded roads and railways should reach 3,871 km and 1,529.07 km respectively. Power generated by newly built sources will reach 19.785 million kW, and length of optical fiber cable will reach 2,084 km". read more