“When the corridor is constructed, it will expand the number of trade routes between China, Middle East and Africa”
China plans to build oil storage facilities and a refinery at Gwadar Port, with oil transported to its Xinjiang Uighur Autonomous Region via road and pipeline. Iran has also responded positively over the proposal to link the Iran–Pakistan gas pipeline with China, with the Iranian ambassador to China describing it as a “common interest” between the three countries.
CPEC is considered economically vital to Pakistan in helping it drive economic growth. Moody’s Investors Service has described the project as a “credit positive” for Pakistan.
THE ASIAN DEVELOPMENT BANK
The Bank terms the project as “CPEC will connect economic agents along a defined geography. It will provide connection between economic nodes or hubs, centered on urban landscapes, in which large amount of economic resources and actors are concentrated.”
CHINESE FOREIGN MINISTRY
According to Chinese Foreign Ministry Spokesperson Hua Chunying, the corridor will “serve as a driver for connectivity between South Asia and East Asia.”