ISLAMABAD: Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza said on Friday the China-Pakistan Economic Corridor (CPEC) was not just beneficial for his country’s economy but also a “stabilizing force” for South Asia.

CPEC is a massive infrastructure and economic development initiative that was launched in 2015 as part of China’s Belt and Road Initiative (BRI). It aims to enhance connectivity between the two states through a network of roads, railways, energy projects, and special economic zones.

The primary goal of CPEC is to improve Pakistan’s infrastructure, boost trade, and create jobs while providing China with direct access to the Arabian Sea via Pakistan’s Gwadar Port.

It is widely viewed as a strategic partnership between the two countries that has the potential to reshape the region’s economic geography.

“Our relations with [the] People’s Republic of China are truly special and time-tested relationship that not only serves as a testament to our all-weather strategic cooperative partnership but also as a cornerstone for peace and stability, both for Pakistan and the region that are today fraught with challenges,” Mirza said while addressing the Security Cooperation and Asia-Pacific Prosperity and Stability Session of the 11th Beijing Xiangshan Forum in China.

“Ladies and gentlemen, [the] China-Pakistan Economic Corridor is a flagship project of China’s Belt and Road Initiative,” he continued. “It is an initiative of enhanced regional connectivity and economic development. Indeed, CPEC is not only a game changer for Pakistan’s economy, but also a stabilizing force in South Asia.”

The 11th Beijing Xiangshan Forum is being held from September 12 to 14, with unprecedented participation from over 100 countries and organizations. Under the theme of “Promoting Peace for a Shared Future,” this year’s event features critical discussions on global security, regional stability, and innovative technologies in defense.

The Pakistan government is already negotiating “CPEC 2.0” to mark the second phase of the joint corridor project carried out by the two countries, shifting the focus from infrastructure and energy projects to industrial cooperation, agriculture, socio-economic development and technological advancements.

CPEC 2.0 also aims to develop new Special Economic Zones (SEZs) to attract foreign investment and boost industrial growth, as part of Pakistan’s economic revitalization strategy.

– With input from China News Service via Reuters