CPEC offers opportunities for Pakistan, regional countries to promote economic development: president

ISLAMABAD, Feb. 18 (Xinhua) -- Pakistani President Asif Ali Zardari said on Tuesday that the China-Pakistan Economic Corridor (CPEC) offered immense opportunities for Pakistan, China and other regional countries to promote economic development.

Multiple infrastructure and road projects under the CPEC helped Pakistan to better link with neighboring countries including China, supporting trade and economic integration, the president said during a seminar on regional connectivity organized by Pakistani think-tank Pakistan-China Institute.

He said that the development of Gwadar Port, a key project under the CPEC in the country's southwest Balochistan province, would bring dividends for future generations by giving impetus to trade, economic cooperation and prosperity.

Stressing Pakistan's commitment to strengthen regional connectivity, Zardari said that Pakistan has great geostrategic importance which presented an option to enhance regional trade, terming the country as a "natural trade corridor" linking China, Central Asia and the Middle East.

The president also emphasized the importance of revitalizing historic trade routes to further strengthen economic and cultural ties across the region.

Speaking on the occasion, Chief Minister of Balochistan Sarfraz Bugti said that the CPEC is reflective of the long-standing friendship between Pakistan and China.

He said that after successfully implementing the first phase of the CPEC which modernized Pakistan's transportation system by building roads, ports and airports, the CPEC has entered its second phase of trade, industrialization, economic development and regional connectivity.

Terming Gwadar Port as a symbol of hope and opportunity for the people of Pakistan especially Balochistan, the chief minister said that the port would be transformed into a significant global port with state-of-the-art facilities to provide access to global markets and serve as a gateway to the world for regional countries. ■