China and Pakistan signed 20 agreements worth 1.6 billion US dollars to implement the ambitious China-Pakistan Economic Corridor (CPEC) project.
These agreements were signed during the CPEC Forum that was held at Karamay city in Xinjiang province of China bordering.
Both the countries together also issued ‘the Karamay Manifesto’ on the China-Pakistan Economic Corridor (CPEC), a major project under China’s Belt and Road Initiative.
China-Pakistan Economic Corridor (CPEC)
- CPEC project is the idea of China and was launched by Chinese President Xi Jinping during his visit to Pakistan in April 2015.
- It connects Xinjiang Province of China with Pakistan’s strategic Gwadar Port and passes through Pakistan occupied Kashmir.
- CPEC project seeks to boost economic cooperation, political trust and cultural exchanges between China and Pakistan.
- It is being regarded as the biggest connectivity project between the two countries with total investments around 46 billion US dollars.
