ISLAMABAD – The federal government has confirmed that Prime Minister Shehbaz Sharif’s upcoming trip to China will mark the official launch of the second phase of the China–Pakistan Economic Corridor (CPEC). Focused on industrial collaboration, this long-anticipated phase is set to begin after a delay of nearly five years.
At a high-level review meeting chaired in Islamabad, Planning Minister Ahsan Iqbal confirmed that both nations will enter the next phase of CPEC with clearly defined priorities and measurable outcomes. The launch coincides with the forthcoming session of the CPEC Joint Cooperation Committee (JCC), scheduled for October. In the meantime, the Prime Minister is expected to travel to Beijing later this month to attend the Shanghai Cooperation Organisation summit, where bilateral engagements are also planned.
Emphasising strategic direction over sheer scale, the minister noted that CPEC Phase II will prioritise high-impact, sustainable projects that institutionalise long-term benefits. In light of growing trade opportunities—given China’s annual imports exceeding two trillion dollars—officials aim to target $30 to $50 billion in outbound business by enhancing competitiveness and identifying export-ready sectors through data-driven studies.
Key components under review include the Multan–Sukkur Motorway, industrial parks, artificial intelligence capabilities, mining initiatives, and special economic zones. The government is also pushing for improved access for business professionals, urging authorities to streamline visa processes in both countries. A framework to ensure transparent, needs-based utilisation of China’s 10,000 training opportunities has also been directed.
The planning minister further extended an invitation to Chinese President Xi Jinping for a state visit to Islamabad in 2026, a symbolic gesture to commemorate 75 years of diplomatic relations between Pakistan and China.
This story has been reported by PakTribune. All rights reserved.