Chinese President Xi Jinping has arrived in Pakistan on Monday on his first visit to the country in nearly a decade. He is reportedly going to announce a $46 billion investment in energy and infrastructure.
China is expected to invest about $34 billion into energy projects and nearly $12 billion into infrastructure, with the main part of the investment to focus on the so-called China-Pakistan Economic Corridor (CPEC), according to the media reports. Beijing considers CPEC, a network of roads, railways and pipelines, as an opportunity to expand its trade and transport links and boost economic influence across Central and South Asia. Deals worth some $28 billion are ready to be signed during the visit, with the rest to follow.
“The real opportunity of this China-Pakistan Economic Corridor is that it changes the scope of the relationship from geopolitics to geoeconomics,” the Pakistani minister overseeing the investment projects, Ahsan Iqbal was cited as saying by The Guardian.