A World Bank report projects the expected increase in the foreign investment in Pakistan to 15.4 percent of the gross domestic products by 2017 after the completion of the projects related to the energy and infrastructure development under the China-Pakistan Economic Corridor (CPEC). According to the report, various businessmen in Canada, the United States, Australia and European Union have shown their interest in launching business ventures in Pakistan in collaboration with their local counterparts. Though a recent World Bank report shows that Pakistan has shed 10 points in the world ease of doing business index, the government has multiplied its efforts to attract maximum foreign direct investment after the signing of CPEC projects with China. Under the landmark CPEC project, Gwadar port will be connected to the Chinese city of Kashgar and will emerge as new business and trade hub after the revival of the Silk Road. The 2,100-kilometre-long corridor project, costing $46 billion, will entail special economic zones, road and rail network as well as airports.
The world is changing at a fast rate and countries are coming close to each other. However, despite close friendship between the governments of Pakistan and China, people are generally foreign to each other due to cultural, language and geographical barriers. As Gwadar is a new gateway of China to the Arabian Sea, the two nations are trying to walk into the future together. China has already built a new section of Karakorum Highway with a hope that the ambitious corridor project will complete in time despite hostilities from India and some other countries. It is hoped that the United States will also involve itself in the project as a partner and not as a rival. Afghanistan and the countries of the Central Asia should also join the corridor to open the opportunities of development, investment and prosperity.
After completion of the project, the Chinese goods would easily find a way to the markets in Africa, the Middle East and Europe through the saltwater port of Pakistan. The revival of the centuries-old Silk Road, connecting China with the Middle East and the rest of the world will usher in an era of economic development not only in Pakistan and China, but also in the region. Pakistan can also facilitate the SAARC countries, a home of three billion people, to market their goods in Afghanistan and central Asian states. The corridor has the potential not only to reduce the cost, but also time of transportation. It is the time the South Asian countries should forget the bitter past and look toward a bright future.
