Pakistan, China to map out CPEC Phase-II strategy at Beijing JCC meeting

Celina Ali

Islamabad: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal announced that Pakistan and China will finalise the roadmap for implementing the action plan of the second phase of the China-Pakistan Economic Corridor (CPEC) during the upcoming 14th meeting of the Joint Coordination Committee (JCC), scheduled for September 26 in Beijing.

Speaking to journalists before departing for China on Sunday, Iqbal stressed that the session would give “practical shape” to the new chapter of CPEC cooperation. “During Prime Minister Shehbaz Sharif’s recent visit, the 2025–29 Action Plan was finalised. Now, we will evolve a strategy for its implementation in partnership with our Chinese counterparts,” he said.

The planning minister hailed China as “Pakistan’s most reliable friend,” recalling Beijing’s consistent support through economic crises, natural disasters, and regional challenges. He underscored that both countries would move forward “step by step for mutual prosperity,” with Phase-II of CPEC marking what he described as “a new era of growth and transformation” for Pakistan.

Reflecting on the first phase, Iqbal noted that Pakistan focused on energy and infrastructure to address chronic shortfalls. He cited landmark projects completed with Chinese investment worth nearly $33 billion, including the Sahiwal, Port Qasim and Hub coal power plants, the Quaid-e-Azam Solar Park in Bahawalpur, and the Thar coal project. He added that an extensive network of motorways and highways had connected the north and south of the country, while Gwadar Port was turning Balochistan into a gateway for regional trade.

Outlining the priorities of the second phase, Iqbal said the focus would shift towards high-value sectors — including agricultural modernisation, advanced technologies, renewable and green energy, and the establishment of special economic zones (SEZs). These, he said, would spur industrialisation, enhance exports, and generate employment opportunities for Pakistan’s youth.

He highlighted that China imports goods worth US $ 2 trillion annually, yet Pakistan’s exports to China stand at only US $3 billion. “CPEC 2.0 can help bridge this trade gap by boosting Pakistan’s productive capacity and competitiveness,” Iqbal remarked.

The minister also noted that during Prime Minister Shehbaz Sharif’s participation in the recent Shanghai Cooperation Organisation (SCO) summit, Pakistan and China agreed to align CPEC Phase-II with Islamabad’s five-corridor ‘Uraan Pakistan’ development framework, which covers growth, livelihood, innovation, green economy and regional integration.

According to officials, this alignment is intended to make CPEC not just an economic corridor but also a comprehensive development initiative aimed at uplifting communities and promoting sustainability.

Observers point out that CPEC remains the flagship of China’s Belt and Road Initiative (BRI), and Beijing has recently reaffirmed its long-term commitment to Pakistan amid global economic uncertainty and shifting geopolitical alignments. For China, CPEC serves as both a strategic land bridge to the Arabian Sea and a showcase of BRI’s potential to drive connectivity and shared prosperity.

With the JCC meeting now set to translate the 2025-29 action plan into a concrete implementation strategy, both sides see CPEC Phase-II as a chance to deepen cooperation beyond roads and power plants – moving into innovation, sustainable development, and trade integration that could anchor Pakistan more firmly within the regional and global economy.