Pakistan and China on Friday decided to intensify efforts to establish a Working Group for five new Economic Corridors as part of phase 2 of the China-Pakistan Economic Corridor (CPEC). This move aligns with the 5Es framework prepared by Pakistan’s Planning Ministry.
The Federal Minister of Planning, Development & Special Initiatives, Professor Ahsan Iqbal, held a productive meeting with Chinese envoy Jiang Zaidong at the Planning Ministry, lasting over an hour.
Jiang Zaidong congratulated Professor Ahsan Iqbal on his fourth term as Planning Minister and both sides expressed determination to fast-track phase 2 of the CPEC.
They also agreed to set up a working group focusing on five new economic corridors: Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development.
The Planning Ministry and China’s National Development and Reform Commission (NDRC) will develop separate concept papers for each economic corridor, outlining a clear roadmap for future sectoral development. These papers will be consolidated for presentation at the upcoming Joint Coordination Committee (JCC) meeting in 2024, as per the Planning Ministry’s announcement.