Third-Party Participation
In a recent meeting chaired by Caretaker Minister for Planning, Development, and Special Measures Sami Saeed to assess CPEC project progress, the Ministry of Foreign Affairs disclosed the likelihood of signing an agreement for third-party participation in CPEC during the Pakistan-China Belt and Road Forum (BRF).
The Ministry of External Affairs had earlier imposed a ban on making public announcements about third-party involvement in CPEC projects, emphasizing that decisions on this matter would reached through consensus and mutual consultation between Pakistan and China.
The Ministry of Foreign Affairs also clarified that they established a Joint Working Group on International Cooperation and Coordination (JWG-ICC) in 2018 to foster a favorable international environment for the growth and development of CPEC.
During the meeting, they communicated that they had established the procedure for third-party participation in CPEC, along with terms of reference (TORs), through extensive inter-ministerial consultations and had submitted it to the Ministry of Planning for review and input.
The Caretaker Planning Minister expressed satisfaction with the progress made by the JWG and emphasized the importance of finalizing the procedure for approving the third phase of CPEC projects.
He instructed that these matters be addressed expeditiously to enable their signing during the upcoming Belt and Road Forum.
In conclusion, the forthcoming Belt and Road Forum holds promise for signing an agreement on third-party participation in CPEC, signaling potential enhancements in the economic corridor’s development.
This milestone underscores the commitment to facilitating international cooperation and coordination within the project’s framework.
