The second phase of the China-Pakistan Economic Corridor (CPEC 2.0) will create new opportunities for joint investment and cooperation between Pakistan and China in agriculture, industry and mining, Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) Commercial Ambassador Adeel Munawar said on Wednesday.
Speaking in Lahore, Munawar welcomed China's commitment to upgrading CPEC and expressed gratitude to Chinese Ambassador Jiang Zaidong for supporting the initiative.
He assured the full support of the Pakistan China Joint Chamber of Commerce and Industry for the implementation of projects under CPEC 2.0 and said the next phase of the corridor would further strengthen economic cooperation between the two countries.
Munawar noted that CPEC had so far brought more than $25.9 billion in direct investment to Pakistan, generated over 260,000 jobs and added more than 8,000 megawatts to the country's electricity generation capacity.
He also appreciated the Chinese Embassy's role in accelerating work on major infrastructure projects, including the second phase of the Karakoram Highway realignment, while expanding community welfare initiatives aimed at improving education and water supply facilities, particularly in Balochistan.
The PCJCCI official said Pakistan and China continued to maintain close coordination on regional and international issues and supported each other on matters related to global governance reforms and multilateral cooperation.
He said Pakistan's strategic location offered China and the Central Asian republics one of the shortest and most efficient trade routes through Gwadar Port, strengthening regional connectivity and trade integration.
Munawar also highlighted the investment potential of Pakistan's Indus Delta region, saying it possessed significant hydrocarbon resources that could create future opportunities for energy cooperation and investment between the two countries.
He said a joint survey conducted by the Pakistan Navy's Hydrographic Department and the China Geological Survey had identified encouraging prospects for oil and gas reserves within Pakistan's Exclusive Economic Zone in the Indus Delta region.
According to Munawar, a third survey is expected to be carried out later this year, which could pave the way for further exploration, drilling activities and development of hydrocarbon resources with Chinese cooperation.
He expressed confidence that CPEC 2.0 would not only deepen economic ties between Pakistan and China but also contribute to regional development, trade expansion and long-term energy security.