CPEC Phase II Launched at 14th JCC Meeting in Beijing: Ahsan Iqbal Unveils Vision for Pakistan’s $1 Trillion Economy

Beijing, Sept. 27 : Planning Minister Ahsan Iqbal announced the formal launch of China-Pakistan Economic Corridor (CPEC) Phase II after the conclusion of the 14th Joint Cooperation Committee (JCC) meeting in Beijing, according to a report by China Economic Net (CEN).

The minister said CPEC’s new phase aligns with Pakistan’s Five Es Framework — exports, equity, environment, energy, and e-governance — aimed at transforming the country into a $1 trillion economy by 2035.

Under the agreement, Pakistan and China will establish five specialized corridors:

1. Growth Corridor – boosting exports, job creation, and economic expansion.

2. Livelihood Corridor – focusing on poverty alleviation and socio-economic uplift.

3. Innovation Corridor – promoting technology, AI, research, and the “Digital Silk Route.”

4. Green Corridor – prioritizing renewable energy, sustainable development, and climate resilience.

5. Connectivity Corridor – enhancing transport links with Afghanistan, Central Asia, and beyond.

 

Calling CPEC Phase II people-centric, Ahsan Iqbal emphasized youth, education, and skill development. Pakistan has proposed training 10,000 Ph.D. scholars in China in artificial intelligence, engineering, and emerging sciences. By 2047, Pakistan envisions becoming a $3 trillion, technology-driven economy.

Additional initiatives include:

Establishing AI and quantum computing labs,

Launching a Future Skills Program in IT, robotics, fintech, and biotechnology,

Developing climate-smart agriculture projects,

Expanding vocational training with Chinese partners,

Building a mineral corridor in Balochistan, and

Upgrading the Karakoram Highway with regional connectivity in mind.

Ahsan Iqbal stressed that Phase II will gradually shift from government-to-government (G2G) to business-to-business (B2B) cooperation. Pakistan has already set up facilitation desks and streamlined visas to attract investment, following Prime Minister Shehbaz Sharif’s recent visit where $8.5 billion worth of agreements were signed.

Reiterating Pakistan’s commitment to the security of Chinese nationals, he said:

> “Chinese friends are our honored guests, and together we will defeat any attempts to sabotage this cooperation.”

 

The minister concluded by describing CPEC as a partnership that has “never seen an autumn; it always blossoms like spring,” adding:

> “The first decade transformed Pakistan’s infrastructure. The next will transform lives — creating jobs, driving innovation, and building a modern, inclusive economy.”