China has put out a number of ideas, including a joint security business and an agreement to cooperate against terrorism, in light of the growing interest in expanding commercial ties under the second phase of the CPEC.
Beijing has once again shown its willingness to jumpstart the multibillion-dollar corridor project.
China has also suggested that the almost two dozen remaining Phase-I projects be included into Phase-II of the CPEC.
The projects include those pertaining to hydropower, special economic zones, LNG facilities, railroads, and road infrastructure.
The sources stated that in order to allay Chinese security worries, both parties may sign an agreement on cooperation in combating terrorism.
According to a joint statement released following the visit, Prime Minister Shehbaz Sharif and the Chinese government reaffirmed their commitment to fighting terrorism in all of its forms and manifestations with a “zero tolerance” attitude. They also decided to further strengthen their cooperation in countering terrorism and security through a comprehensive strategy.
According to the sources, China has also suggested creating a joint venture to guarantee the safety of its nationals who are employed in Pakistan or who will be during CPEC Phase-II.
Both parties have finished 38 projects totaling $25.2 billion under Phase I. Of them, the energy industry saw the completion of 17 projects valued at $18 billion.
There are now 26 projects in the works totaling $26.8 billion, several of which are a part of CPEC Phase II.
In addition to launching a project on ballistic protection vehicles, China has suggested that Phase-II include a project on vehicle-mounted mobile securing equipment.
In the areas of infrastructure, energy and minerals, economic growth, research and technology, security and safety, small livelihood aid, people-to-people interaction, and digital economy, Chinese authorities are open to working together.
