China-Pakistan Economic Corridor focus of Xi-Sharif meeting in Samarkand

By Riyaz ul Khaliq

ISTANBUL (AA) – China's President Xi Jinping called on Friday for the smooth construction and operation of major projects associated with the multibillion-dollar China-Pakistan Economic Corridor (CPEC).

Xi made these comments during a bilateral meeting with Pakistani Prime Minister Shehbaz Sharif in the historic city of Samarkand, Uzbekistan, which is hosting the 22nd Meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO).

China and Pakistan are two permanent members of the regional grouping, accounting for more than 40% of the world's population.

The two countries must also fully utilize the role of the Joint Cooperation Committee (JCC) on the CPEC, Xi told Sharif, according to the Chinese state-run Xinhua News.

The CPEC is estimated to be over $50 billion bilateral investment cooperation arrangement between Islamabad and Beijing since 2014.

China has already invested approximately $28 billion in various energy and infrastructure projects in the South Asian country, allowing the world's second-largest economy to reach the warm waters of the Arabian Sea via Gwadar port in southwestern Balochistan province.

The JCC is the CPEC's top decision-making body, and it meets on an annual basis.

It is co-chaired by the federal minister of Planning, Development, and Special Initiatives of Pakistan and the vice chairman of China's National Development and Reform Commission.

While the two countries refer to each other as “iron brothers,” Xi stated that China and Pakistan “need to continue to firmly support each other, and build stronger synergy between their development strategies.”

With improved security and stability in Kabul, China and Pakistan appear to have reached an agreement to extend the CPEC into Afghanistan.​​​​​​​