Pak-China to Sign Contract for Third-Party Engagement in CPEC

Pak-China to Sign Contract for Third-Party Engagement in CPEC

Islamabad:  According to a news published on 03-10-2023, Pakistan and China are expected to finalize an agreement allowing third parties to participate in transforming China-Pakistan Economic Corridor (CPEC) projects. These developments will be established in the upcoming Belt and Road Forum (BRF).

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As per sources, a meeting chaired by the Planning, Development, and Special Initiatives Minister, Mr. Sami Saeed, in which the Ministry of Foreign Affairs (MOFA) disclosed a significant breakthrough.  The meeting was initiated to appraise the progress of CPEC initiatives. During the meeting, MOFA confirmed that a third-party addition to CPEC projects is in discussion with the Joint Working Group on International Cooperation and Coordination (JWG-ICC).

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This third-party involvement contract is mandated by the CPEC Joint Cooperation Committee (JCC) looking into these matters. In addition, a protocol is established by mutual agreement between the Islamic Republic of Pakistan and the Republic of China. The protocol states that third-party involvement would be made only after rigorous consultation and understanding between the two countries. During the meeting, the substantial progress made by the JWG-ICC, established in 2018, was highlighted to create an international environment conducive to the growth and promotion of CPEC.

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