ISLAMABAD: Pakistan’s Ambassador to China, Moin-ul-Haque on Saturday said the China-Pakistan Economic Corridor (CPEC), with Gwadar port as its main component, will play a vital role in future economic development of Pakistan.

In an interview with CGTN Radio, he said the CPEC is one of the most important flagship project of the five corridors launched under Belt and Road Initiative. The Ambassador said under the first phase of the CPEC, several major energy projects, including hydro, wind and solar projects, have been executed.

He said under the second component of this phase, infrastructure, highways, waterways and bridges have been built across Pakistan to improve the communication and road infrastructure. Moin-ul-Haque said the third important component of the first phase was the Gwadar port which is almost complete and functional.

About special Economic Zones (SEZs) being set up in Gwadar, he said a large number of Chinese companies are setting up their businesses there. He said the CPEC is entering into phase two which is even more important and focused on industrialization, agriculture, social well-being of the people, poverty alleviation and green economy.