write a report on cpec
Answers
Answer:
INTRODUCTION:
CPEC means Pak China Economic Corridor.It is a collection of infrastructure projects that are currently under construction throughout Pakistan. Originally valued at $46 billion, the value of CPEC projects is worth $62 billion as of 2017. CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks numerous energy projects, and special economic zones.
ESTABLISHED:
It was established on 18 feb 2015
SIGNED BY:
The project was launched on April 20, 2015 when Chinese President Xi Jinping and Pakistani Prime Minister Nawaz Sharif signed 51 agreements and Memorandums of Understanding valued at $46 billion.
ITS IMPORTANCE TO PAKISTAN:
CPEC is not just important but it is the guarantee for proven growth of Pakistan economy. CPEC is part of One Belt One Road. ... CPEC investment will be made in Pakistan much needed energy sector to overcome electricity shortage for sustained growth of Pakistan economy.
ITS IMPORTANCE TO CHINA:
Under CPEC, China would invest $46 billion in Pakistan for the development of infrastructure and energy. ... Pakistan will become the most strategically important country in the region because it will improve trade and economic connectivity between Asia, the Middle East and Europe.