China, Pak agree to firmly push forward construction of CPEC

China and Pakistan have agreed to firmly push forward the construction of the China-Pakistan Economic Corridor (CPEC), and complete the ongoing projects under it in a time-bound manner.

A joint statement issued on Sunday following the conclusion of Chinese Foreign Minister Wang Yi's two-day visit to Pakistan, said that during the discussions held in this regard, the two sides agreed to realise the full potential of the CPEC by focusing on socio-economic development, job creation, and better livelihood and accelerating cooperation in industrial parks and agriculture.

"Both sides believed that the China-Pakistan Economic Corridor, as a pioneering project of the Belt and Road Initiative, has entered a new phase of high-quality development," the statement read."The two sides agreed to continue to firmly push forward the construction of CPEC, complete its on-going projects in a timely manner, and realize its full potential by focusing on socio-economic development, job creation, and better livelihood and accelerating cooperation in industrial parks and agriculture," it added.

The CPEC is a multi-billion dollar development project, with a planned network of roads, railways and energy projects linking China's Xinjiang Uyghur Autonomous Region with Pakistan's strategic Gwadar Port on the Arabian Sea.

India is opposed to the project as it is being built through the Pakistan-occupied Kashmir (PoK).