Importance of Belt and Road initiative is not hidden. Most
of the countries know the future prospects and opportunities that will be generated under
this initiative
As CPEC is the main project of Belt and Road initiative, it is already
progressing thus creating better opportunities for
Pakistan. Pakistan and China are two strategic partners of
this agreement however; recently, few
other countries are taking interest in CPEC to earn
potential opportunities in order to capitalize
their own economic interests. Saudi Arabia and Iran are example
of such actors. The economy of
Saudi Arabia is shrinking due to multiple reasons. So, there
are speculations that, Saudi Arabia is
soon entering to join multi-Billion Dollar project.
According to reports, Saudi Arabia is going to make Gwader
an oil City which will help Saudi
Arabia breaking economic barriers. However, Saudi
Arabia's inclusion in CPEC is yet to be
finalized. Federal Minister of Planning, Development and
Reforms, Khusru Bhaktiar recently
announced that, involvement of Saudi Arabia in mega projects
will not be part of China-Pakistan
Economic Corridor. According to Bakhtiar, CPEC framework
is bilateral agreement between
two countries China and Pakistan so, the essence of the
agreement will be same and Saudi
Arabia will not enter in this framework as third party investor. He also stated that, there is chance
of potential investment from other countries as well. The
economic benefits which will be
received by CPEC are hard to ignore but there is still time
to take such decisions to include any
other strategic partner in CPEC. This inclusion will
definitely have high impacts on China,
Pakistan and the project of CPEC.