China and Pakistan have agreed to push forward with the next phase of the China Pakistan Economic Corridor, known as CPEC 2.0, as the two countries seek to deepen economic integration and strengthen regional cnnectivity.

The commitment was announced in a joint statement issued at the conclusion of Pakistani Prime Minister Muhammad Shehbaz Sharif’s official visit to China, News.az reports.

Both sides agreed to convene a new meeting of the China Pakistan Economic Corridor Joint Cooperation Committee and promote the high quality development of CPEC projects. The initiative, considered a flagship component of China’s Belt and Road Initiative, has already delivered major investments in Pakistan’s transport, energy and industrial sectors.

Among the priorities identified in the statement is the phased advancement of the Karakoram Highway realignment project between Thakot and Raikot. The route is regarded as a critical transport corridor linking Pakistan with western China.

China and Pakistan also pledged to maximize the economic potential of the Khunjerab Pass, one of the world’s highest border crossings, in order to facilitate trade and strengthen overland connectivity between the two countries.

The two governments further welcomed the participation of third parties in CPEC projects under frameworks jointly agreed by Beijing and Islamabad, signaling a desire to attract broader international investment.

Officials said the upgraded version of CPEC would place greater emphasis on industrial cooperation, technological development, agriculture and sustainable economic growth.

Both countries expressed confidence that the corridor would continue serving as a key engine for regional development and strengthen economic ties across South Asia and beyond.

News.Az 

By Faig Mahmudov