Shahid Jameel
The BRI proposed by China has enjoyed the energetic development and made remarkable achievements since it was proposed five years ago, winning wide reputation from the international society and expanding the “circle of friends”. More and more developed countries from the western world have expressed their interests in this initiative including Italy. Xi encouraged the two sides to create highlights in bilateral cooperation, jointly build the Belt and Road, and promote the synergy of their development strategies and the planning of practical cooperation. Italy supports Xi’s initiative on jointly building the Belt and Road and believes that it will be conducive to Eurasian connectivity and common development, as well as to reviving the ancient Silk Road in modern times calling it a cultural exchange road.
The BRI is a great proposal that aims to bring new development opportunities to the world, especially relevant countries on different levels. By optimizing industrial layout, constructing industrial parks, and building ports, the initiative is enhancing the agglomeration effect of local economic development. The BRI also cuts cost for transnational economic activities through policy coordination, financial integration and unimpeded trade, in a bid to promote the smooth flow of commodities, personnel, information and capital.
Most see Pakistan-China friendship only in context of CPEC, a collection of infrastructure projects that are currently under construction throughout the South Asian country, but it is only a part of a broader bilateral relation. CPEC has to be completed in two phases. The objectives of the first phase were to resolve the issues pertaining to energy crisis and infrastructure, which has been accomplished. CPEC being a project of BRI is also touching the heights of success as this mega project has entered in its second phase. The first phase, which involved an expenditure of nearly $20 billion, targeted energy and infrastructure. The second phase will focus more on socio-economic development. Electric load shedding is no longer an issue and the necessary infrastructure is in place for the second phase.
As per the vision and will of the government of Pakistan, priority in this phase will be given to socio-economic development to help the Pakistani public to the maximum extent. It is right to say that the current government’s vision is better than those of previous governments, which overlooked the welfare of the common man. Projects including CPEC, have no value if the benefits cannot be enjoyed by the general public. CPEC with its allied projects are likely proved to be the solution to all the problems which directly or indirectly affect the life of a common man especially in eradicating poverty issues.
It is pertinent to mention that Pakistan and the European Union finalized a strategic engagement plan aimed at promoting durable economic development. The engagement plan lays particular emphasis on partnerships in the fields of trade, investment and energy. The EU foreign policy chief hailed Pakistan’s progress towards democratic stability and the reforms agenda of the current government. Pakistani reps told the EU delegation that Pakistan is open in engaging with India to resolve all out outstanding disputes through a sustained dialogue as it is the only sensible way to go forward. Last but not the least, BRI is the grand initiative by China for the establishment of economic infrastructure and geo-development in the early 21st century. As a practice to build a community with shared future for mankind, it is the best gift for the world presented by China.
