One Belt One Road

‘One Belt, One Road’ is a paradigm of regional co-existence. The project firmly focuses on the Continent development goals. This model of shared destiny and cooperation is having a unique three dimensional character engulfing true spirit of reciprocity, kinship and inclusiveness. China will construct a new world economy that would serve generations. 

The mega project aimed at linking China, Central Asia, Russia, and Europe, with the Persian Gulf, South East Asia and the Indian Ocean with Guangxi Zhuang Autonomous Region and Yunnan as starting points. The land Corridor between China-Mongolia-Russia will be built with Chinese province Heilongjiang as starting point. Starting from Kolkata, the China-India-Bangladesh-Myanmar Corridor will also be built. The China-Central Asia-West Asia Corridor will be built with Xinjiang as a starting point. An exclusive China-Pakistan Economic Corridor (CPEC) will be built to connect Gwadar with Xinjiang.

China has chosen to begin the implementation of this big bang template with Pakistan, as both nations are the Iron friends. China Pakistan Economic Corridor (CPEC) is a significant opening move on the ‘Belt and Road initiative’ chessboard. CPEC is, in fact, a trunk passage way connecting the Silk Road Economic Belt in the north with the 21st-Century Maritime Silk Road in the south.

Branches from this trunk are also expected to connect Afghanistan, India and Iran with the Chinese ‘Belt and Road’ system. Decisions taken by President Xi Jinping and Prime Minister Nawaz Sharif and the signing of 51 MOUs were a historic first and one that had further consolidated relations with China, which would bring up a new era of progress for the people of Pakistan.

According to the plan ‘One Belt-One Road’ would be a series of initiatives under which several corridors will be built to boost regional economies to the tune of US$2.5 trillion benefiting over 4.4 billion population across 65 countries.

The initiative is not simply building roads, rails, and ports but introduces a comprehensive network of infrastructure development. Asian Infrastructure and Investment Bank (AIIB), The BRICS New Development Bank, the Silk Road Fund, as well as China-ASEAN Interbank Association, and SCO Interbank Association will also finance projects built under this initiative. 

‘One belt, one road’ initiative is an enduring methodical project that cannot be done overnight, thus states should undergo step-by-step advancement and by endorsing upon a pragmatic approach they should invoke various cooperation initiatives and mechanisms under the auspices of ‘one road, one belt’ initiative to make it more effective and mutually reinforcing.

Pakistan is making its choices prudently and with confidence, supporting all efforts for peace, stability and prosperity in the region. Government of Pakistan must engage and involve leaders of the local business community so as to look into the fringe business opportunities attached with the mega project.