A new trade troika

PAKISTAN enjoys friendly relationship both with China, Saudi Arabia and now the multi billion dollars China-Pakistan Economic Corridor (CPEC) has afforded an opportunity to the three countries to, in fact, form a new trade troika in the region for mutual benefit of their peoples. Minister for Information and Broadcasting Fawad Chaudhary while addressing a news conference said that Saudi Arabia would join the corridor project as the third major partner.
This was followed by the visit of a high level Saudi delegation that besides holding talks in the Federal Capital also visited Gwadar and expressed keen interest in establishing an oil refinery in the port city, which undoubtedly will change the entire landscape in terms of economic activity. Talking to the businessmen and journalists in Quetta on Wednesday, Chinese Ambassador to Pakistan Yao Jing also made it clear that his country has no objection over inclusion of Saudi Arabia in the CPEC and said it will rather welcome Riyadh’s as well as other countries’ investment in the mega project. In fact the very vision of belt and road project envisioned by Chinese President Xi Jingping is to link different regions of the world. Therefore, keeping in view the partnership approach of China, we were certain that the country would not object to Saudi or any other investment. The inclusion of Riyadh indeed will promote trilateral trade and benefit the three countries to further come close to each other.
Many experts also believe that with this the Saudi Arabia will find a huge new avenue to bolster its oil and other exports whereas Pakistan and China will get a wealthy partner, which will further widen the project’s sphere and influence on international economy. We are confident that both Pakistan and China will continue to take forward the CPEC with the same spirit of greater understanding and engagement to reap the full benefits of the project. How far Beijing is accommodating can be gauged from remarks of the Chinese envoy Yao that the CPEC projects are being reviewed keeping in view the agenda and vision of new Pakistani government. Such an approach from both sides indeed will thwart designs of enemies who are bent upon sabotaging this historical project.

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