Cpec Agreement Details

In September and October 2015, the UK government announced two separate grants to the Pakistani government for road construction, which complement the CPEC. [56] [57] In November 2015, China adopted the CPEC in its 13th Five-Year Development Plan,[58] while China and Pakistan agreed in December 2015 to invest an additional $1.5 billion for the creation of an information and technology park under the CPEC project. [59] On April 8, 2016, Xinjiang Communist Party companies Zhang Chunxian signed additional $2 billion in infrastructure, solar and logistics agreements with their Pakistani counterparts. [60] The Thar Block-I funding agreement between ICBC, SSRL. In November 2016, China announced an additional investment of $8.5 billion in Pakistan, with $4.5 billion to upgrade Pakistan`s main rail line from Karachi to Peshawar, including rail tracks, speed and signage, and $4 billion for an LNG terminal and transmission lines to mitigate energy bottlenecks. [64] In February 2017, the Egyptian ambassador to Pakistan expressed interest in CPEC cooperation. [65] In January 2017, Chief Minister Pervez Khattak of Khyber Pakhtunkhwa said he had received assurances from Chinese investment firms that they would invest up to $20 billion in projects. [66] In March 2017, an agreement was signed on projects that included: a $1.5 billion oil refinery, $2 billion in irrigation projects, a $2 billion highway between Chitral and DI Khan, and $7 billion in hydroelectric projects. [67] During Afghan President Ashraf Ghani`s visit to India in April 2015, he stated, „We will not grant Pakistani trucks equal access to transit to Central Asia“ unless the Pakistani government has accepted India as part of the Afghanistan-Pakistan transit agreement in 2010.

[296] The current transit trade agreement allows Afghanistan access to the port of Karachi to export with India and allows the transit of Afghan goods to any border with Pakistan, but does not guarantee the right of Afghan trucks to cross the Wagah border, and the agreement does not authorize the export of Indian goods to Afghanistan via Pakistan. [297] Due to the continuing tensions between India and Pakistan, the Pakistani government has expressed its dislike for India`s inclusion in trade negotiations with Afghanistan and, as a result, little progress has been made between the Afghan and Pakistani parties.