Exports are expected to continue to anchor economic activity, supported by the influx of foreign direct investment (FDI). "Besides contributing to Pakistan's economic turnaround, CPEC is poised to contribute to regional prosperity," Pakistani Foreign Minister Shah Mahmood Qureshi said. The Asia–Pacific Gateway and Corridor Initiative is an integrated set of investment and policy measures of the Canadian federal government that are focused on trade with the Asia–Pacific Region. IN 2015, China and Pakistan forged strategic links with the signing of the China-Pakistan Economic Corridor (CPEC) agreement. James Wallar in an article titled ‘Indo-Pacific Economic Corridor: Opportunity for U.S., Indian and ASEAN statesmanship’ argues: ‘The East Asia Summit (EAS) would be a natural fit. The China-Pakistan Economic Corridor (CPEC), one of the most ambitious components of Beijing’s Belt and Road Initiative, was announced to great fanfare in 2015. All three were created under the National Policy Framework for Strategic Gateways and Trade Corridors. Download Full PDF Package. And India is expected to be a vital player in both projects. China has strongly refuted suggestions its multibillion-dollar economic corridor now under construction with Pakistan has "hidden" military designs as well. Through the China-Pakistan CPEC initiative, the global economic patterns will change and trade will take on a new shape, says the Chinese Global Times. Malaysia is home to five investment corridors (a type of special economic zone). This initiative complements the Pacific Island Forum’s Pacific Humanitarian Pathway for COVID-19, which Australia has helped operationalise with dedicated funding through the World Food Programme (WFP) and through our corridor. India has been opposing the China Pakistan Economic Corridor on the grounds that it will cut through Pakistan Administered Kashmir which it claims. It can also use the economic corridor for negotiating downstream industries to be located within India. Governments, consumers, The Asia-Pacific is the part of the world in or near the Western Pacific Ocean.Asia-Pacific varies in area depending on context, but it generally includes East Asia, South Asia, Southeast Asia, and Oceania.. This corridor is adjusted up and down with the policy rate. Economic Corridor (EEC) infrastructure will be crucial to continuing the growth momentum. 2.2. The China-Pakistan Economic Corridor (CPEC) passes through sovereign Indian Territory. The Asia-Africa Growth Corridor is an economic cooperation agreement between 10 Asian countries and 7 African countries, launched in 2017 by the governments of India and Japan. Download PDF. Recent announcements of pan-regional projects such as the Indo-Japanese Asia-Africa Growth Corridor, and the revived US Indo-Pacific Economic Corridor and New Silk Road initiative, are welcome developments. The following article is based on a speech given by Tridivesh Singh Maini at the Japan Foundation-ICRIER Young Scholars’ Forum on June 24, 2016. assumed that China-Pakistan Economic Corridor (CPEC) is the revival of ... (EEZ) and Asia Pacific Economic Zone (APEZ) ─ which are the most dynamic economic zones in the world. ... an initiative of this size is another aspect that would be difficult to arrange in countries lacking China’s command economy. “China has a larger vision of its engagement with Afghanistan, which […] Dasha River Ecological Corridor. Islamabad, Pakistan – The China-Pakistan Economic Corridor (CPEC) is a USD 46 billion joint project to enhance connectivity and industrial cooperation. East Asia through Effective Economic Corridor Management Context: China-Mongolia-Russian Federation Economic Corridor Program • 32 approved projects covering several fields of cooperation (i.e. With natural gas reserves of about 200 trillion cubic feet, the largest in the Asia-Pacific, Bangladesh could become one of the major energy exporting countries. • Viet Nam ’s medium-term growth is projected to grow to 6.5% on average in 2019-23 from 5.9% in 2012-16. Asian member countries (10): Bangladesh, India, Iran , Japan , the Maldives , Mongolia , Myanmar , … Reuters. With the rising involvement of the US in the new growth areas of Asia, the idea of the Indo-Pacific Economic Corridor was conceptualized during the US-India Strategic Dialogue of 2013, when Secretary of State John Kerry referred to the potential of the Indo-Pacific Economic Corridor, in transforming the prospects for development and investments as well as for trade and transit between … [1], India on 25 May 2017 launched a vision document for Asia-Africa Growth Corridor or AAGC at the African Development Bank meeting in Gujarat. The backstop keeps the inter-bank interest rate from veering too far from the target. Rory Medcalf looks at the rise of the term "Indo-Pacific" and its implications for shifts in economic and political power in Asia. Digital connectivity will also support the growth of innovative technology and services between Asia and Africa. The China-Pakistan Economic Corridor, the star project of the Belt and Road Initiative, holds immense potential for improved ties, increased tourism, and enhanced trade between the two countries. A short summary of this paper. He said the two countries should also strengthen cultural exchanges to enrich the concept of … Eastern Economic Corridor : 20 percent of the Thailand’s total GDP. China has strongly refuted suggestions its multibillion-dollar economic corridor now under construction with Pakistan has "hidden" military designs as well. The $46 billion China-Pakistan Economic Corridor stretches from Kashgar in China's western Xinjiang province to … The objective is to create an integrated economic space through the cross-border integration of the main cities of the region. There are five main aspects. political and economic conditions in the region have created a political window of opportunity to strengthen the economies and economic prosperity of Bangladesh, Burma, and India through enhanced economic engagement with other Southeast Asian neighbors — namely a strong Indo-Pacific Economic Corridor (IPEC). READ PAPER. China-Pakistan Economic Corridor A Game Changer. BANGKOK, Jan. 12, 2021 /PRNewswire/ -- Thailand's high-tech Eastern Economic Corridor (EEC) will this year become the first part of Southeast Asia to offer 5G telecommunications connectivity as it targets becoming the region's gateway and digital innovation hub, EEC Secretary General Kanit Sangsubhan said. These offer distinct investment roadmaps whose development is overseen by their individual governing bodies. It is China’s biggest-ever overseas investment, and for Pakistan, it provides an unprecedented opportunity to promote the economic potential and rights of the country’s women. APTA Asia-Pacific Trade Agreement ASEAN Association of Southeast Asian Nations BAU Baseline scenario (CGE model) BCIM Bangladesh-China-India-Myanmar economic corridor of BRI BRI Belt and Road Initiative CAWA China-Central Asia-West Asia economic corridor of BRI CESconstant elasticity of substitution CGE computable general equilibrium China, Mongolia and Russia will cooperate in seven areas to build a trilateral economic corridor, according to guidelines released last week. According to the annual budget proposal by the US government, the US will revive two infrastructure projects: the New Silk Road project covering Afghanistan and its neighboring countries and the Indo-Pacific Economic Corridor linking South Asia and Southeast Asia. The China Pakistan Economic Corridor (hereafter CPEC) is the flagship of China’s One Belt One Road (OBOR) initiative envisioned by president Xi Jinping back in 2013 for the economic integration of Eurasia through belts and roads initiatives. Xi also called on the two countries to push forward the development of China-Laos Economic Corridor and China-Laos railway as well as the Belt and Road Initiative (BRI). Asia-Pacific’s leading current affairs magazine. Other government agencies are also involved in the development and realization of the goals of the Initiative. The China-Pakistan Economic Corridor (CPEC) passes through sovereign Indian Territory. The CCI-New International Land-Sea Trade Corridor (ILSTC), which connects the 21st Century Maritime Silk Road and the overland Silk Road Economic Belt of the Belt and Road Initiative, has enhanced connectivity between China, Singapore and a wider region, said the foreign minister. The Asia-Africa Growth Corridor or AAGC is an economic cooperation agreement between the governments of India, Japan and multiple African countries. So our concerns in this regard have been conveyed to both China and Pakistan," Spokesperson of the Ministry of External Affairs, Vikas Swarup told the media. This international trade related article is a stub. By Ellen Boonstra, Asia correspondent >>. Asia Pacific Business Review The China-Pakistan economic corridor of the belt and road initiative concept, context and assessment. The China-Pakistan Economic Corridor (CPEC) is transforming the remote but spectacular Gilgit-Baltistan or the GB region of Pakistan. The China Pakistan Economic Corridor (CPEC), presently under construction at a cost of $46 billion, aims to improve Pakistani infrastructure and deepen The China-Pakistan Economic Corridor (CPEC) has set an example for the rest of the world. economic Corridor to be an important initiative for jobs growth ... region with strong links to east asian and asia-Pacific global cities and thereby to significant trade opportunities and to international flows of information, ideas, people, finance and cultural activity. And India is expected to be a vital player in both projects. Western Economic Diversification Canada facilitates Gateway discussion and funding in the four Western Canadian provinces of British Columbia, Alberta, Saskatchewan and Manitoba. This examination was accomplished by completing document and literature reviews, key informant interviews, and an analysis of national transportation and economic data. Scholar Pakistan. Description of the Subject - Almaty-Bishkek Economic Corridor. Earlier this year, the Gwadar port, one of the key projects under the economic corridor, officially started taking cargo under the Afghanistan-Pakistan Transit Trade Agreement. You can help Wikipedia by expanding it. Experts believe that the CPEC project is most vulnerable to militant threats. The AAGC would consist of four main components: development and cooperation projects, quality infrastructure and institutional connectivity, capacity and skill enhancement and people-to-people partnerships. “If CPEC is no more than a single economic corridor from Xinjiang to Gwadar, then, of course, there is not much that India can expect. Whilst the Chinese “open up strategy” attracted foreign investors and promoted its … The second phase of China Pakistan Economic Corridor (CPEC) would focus on Afghanistan as the US prepares to withdraw from the region. Asia Pacific China, Russia, Mongolia ink economic corridor plan. There is scope for Asia to share its experiences of growth and development with Africa. With the rapid economic growth of Asian Pacific economies in the passing decades, the center of international navigation is moving east to the Asia Pacific. These are: (a) effective mobilization of financial resources; (b) their alignment with socio-economic development and development strategies of partner countries and regions; (c) application of high-quality standards in terms of compliance with international standards established to mitigate environmental and social impact; (d) provision of quality of infrastructure taking into account aspects of economic efficiency and durability, inclusiveness, safety and disaster-resilience, sustainability as well as convenience and amenities; and (e) contribution to the local society and economy.[4]. You can help Wikipedia by expanding it. New Delhi (Sputnik) — "Our concerns are well known. India-China Border Tensions Intensify As PLA Troops Occupy Heights & Build Fortifications China has pushed its way to conquer Pakistan’s construction sector with its The Asia–Pacific Gateway and Corridor is a system of transportation infrastructure, including British Columbia Lower Mainland and Prince Rupert ports, road and rail connections that reach across Western Canada and into the economic heartlands of North America, as well as major airports and border crossings. Economic Corridor (EEC) infrastructure will be crucial to continuing the growth momentum. Asia Pacific. The Initiative is led by Transport Canada and its international marketing is done by the Department of Foreign Affairs and International Trade. A general view of Gwadar port in Gwadar, Pakistan Oct. 4, 2017. This paper. This article related or pertaining to the economy of India is a stub. It aims for Indo-Japanese collaboration to develop quality infrastructure in Africa, complemented by digital connectivity, which would undertake the realization of the idea of creating free and open Indo-Pacific Region. China-Pakistan Economic Corridor A Game Changer. Indo-Pacific Economic Corridor: Opportunities and Challenges –Tridivesh Singh Maini. Keeping the momentum So our concerns in this regard have been conveyed to both China and Pakistan," Spokesperson of the Ministry of External Affairs, Vikas Swarup told the media. The China Mongolia-Russia economic corridor would connect China’s Silk Road Economic Belt to Russia's transcontinental rail plan and Mongolia's Prairie Road program” (RT, 2015) Russian media noted that this concept coincided with Russia’s Eurasian transport corridor initiative, which involves high-speed rail and road links between Moscow and Beijing. It is a Chinese initiative. According to the Vision Document many fields of collaboration were laid out. The three neighbours will improve transport facilities by expanding land, air and sea connections, said the guidelines issued by the National Development and Reform Commission. The port is at the heart of the $50 billion Chinese investment in the China-Pakistan Economic Corridor (CPEC). It's proven the huge potential of the Gwadar port, Alvi said, adding that a number of developmental projects are currently in full swing in the country to further boost trade between Pakistan and Central Asian states. Outside of government, much of the policy research on Gateway issues is conducted by the Asia Pacific Foundation of Canada. Asian countries are now increasingly participating in ownership of the world shipping fleet. Indo-Pacific Economic Corridor (IPEC) project is aimed at promotion of stability and prosperity of South and Southeast Asian economies, using funds managed by the U.S. State Department. Asia-Pacific’s leading current affairs magazine. TWO YEARS AGO the Thai Government launched ‘Thailand 4.0’, a vision to transform the Thai economy into an innovation-driven one. The China–Pakistan Economic Corridor (CPEC) is part of China’s Belt and Road Initiative, which aims to connect Asia, Africa, and Europe through a vast network of highways, rail lines, and sea routes. According to the annual budget proposal by the US government, the US will revive two infrastructure projects: the New Silk Road project covering Afghanistan and its neighboring countries and the Indo-Pacific Economic Corridor linking South Asia and Southeast Asia. Moreover, due to the changing global travel policies and SOPs, particularly in the United States, Pakistan may become a more lucrative tourist destination for Chinese travelers. Rory Medcalf looks at the rise of the term "Indo-Pacific" and its implications for shifts in economic and political power in Asia. Keeping the momentum Tourism too will get a boost. Date: Thursday, September 22, 2016 Authors: Aisha Mukhtar and Fareeha Ummar. chain and exporters with greater access to foreign markets. Indo-Pacific Economic Corridor (IPEC) project is aimed at promotion of stability and prosperity of South and Southeast Asian economies, using funds managed by the U.S. State Department. The China-Pakistan Economic Corridor (CPEC), one of the most ambitious components of Beijing’s Belt and Road Initiative, was announced to great fanfare in 2015. The Asia–Pacific Gateway and Corridor is a system of transportation infrastructure, including British Columbia Lower Mainland and Prince Rupert ports, road and rail connections that reach across Western Canada and into the economic heartlands of North America, as well as major airports and border crossings. Naimat Khattak. The Foundation has been a longtime advocate for a coordinated and comprehensive approach to the development of the Asia-Pacific Gateway and works with both the federal and provincial governments by leading public discussions and by disseminating information from its research activities.[1]. Scholar Pakistan. Among key activities under IPEC there is an advancement of • Viet Nam ’s medium-term growth is projected to grow to 6.5% on average in 2019-23 from 5.9% in 2012-16. [2], Unlike OBOR, now BRI (Belt and Road Initiative), which entails development of both land corridor (new economic belt) and ocean (marine silk road), AAGC will essentially be a sea corridor linking Africa with India and other countries of South-East Asia and Oceania by reviving ancient sea-routes and creating new sea corridors that will link ports in Jamnagar (Gujarat) with Djibouti in the Gulf of Aden and similarly the ports of Mombasa and Zanzibar will be connected to ports near Madurai; Kolkata will be linked to Sittwe port in Myanmar.[3]. The Asia–Pacific Gateway and Corridor Initiative is one of three gateway projects initiated by the government. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. When central bank policymakers want to adjust the inter-bank market rate in line with economic conditions, they simply change the position of the corridor. 36 Full PDFs related to this paper. Dublin-Belfast economic corridor will enhance economic and social cooperation, Varadkar says Cross-Border councils come together to promote … The connectivity aspects of the AAGC will be supplemented with quality infrastructure. Learn how and when to remove this template message, Research and Information System for Developing Countries, Economic Research Institute for ASEAN and East Asia, International North–South Transport Corridor, http://www.eria.org/Asia-Africa-Growth-Corridor-Document.pdf, http://indianexpress.com/article/explained/to-counter-obor-india-and-japan-propose-asia-africa-sea-corridor-4681749/, "India, Japan come up with AAGC to counter China's OBOR", "Asia-Africa Growth Corridor: Vision document focusses on inclusivity", https://en.wikipedia.org/w/index.php?title=Asia-Africa_Growth_Corridor&oldid=988573571, Articles needing additional references from August 2017, All articles needing additional references, Pages using infobox organization with unknown parameters, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 November 2020, at 00:14. Afghan President Ghani Refuses to join CPEC, without Access to India The article published in the Chinese […] CPEC Fostering Regional Trade and Economic Integration Geopolitically Pakistan is the most suitable economic corridor for trade and transit activities providing a gateway to Central Asia, South Asia, East Asia and West Asia. The mission of the Initiative is to establish Canada's Asia-Pacific Gateway and Corridor as the best transportation network facilitating global supply chains between North America and Asia. The Asia-Pacific Gateway and Corridor Initiative Footnote 1 is a contribution program Footnote 2 launched in 2006 to conduct research to identify potential areas for investment and to fund infrastructure projects to support Asia-Pacific trade. The Almaty -Bishkek (Kyrgyz Republic) Economic Corridor is a pilot corridor developed by the Central Asia Regional Economic Cooperation (CAREC) Programme.. Exports are expected to continue to anchor economic activity, supported by the influx of foreign direct investment (FDI). The Eastern Economic Corridor of Innovation or EECi is an innovation hub located at the heart of the Eastern Economic Corridor (EEC) in Wangchan District, Rayong Province. The OBOR is part of China’s grand strategy of its peaceful rise as a and economy of both the Gateways and Border Crossings Fund (GBCF) and the Asia-Pacific Gateway and Corridor Initiative (APGCI). For the planned submarine communications cable system, see, Department of Foreign Affairs and International Trade, Ontario–Quebec Continental Gateway and Trade Corridor, National Policy Framework for Strategic Gateways and Trade Corridors, Asia Pacific Foundation of Canada Gateway Project, https://en.wikipedia.org/w/index.php?title=Asia–Pacific_Gateway_and_Corridor_Initiative&oldid=918328690, Creative Commons Attribution-ShareAlike License, This page was last edited on 28 September 2019, at 03:55. China’s ambitious plan to transport oil across the Himalayas in Pakistan under the China-Pakistan Economic Corridor (CPEC) might be “economically unsustainable” and actually benefit the US in the ongoing US-China rivalry. Although the unfolding U.S.-China competition has not tangibly affected regional cooperation, as Washington’s enthusiasm for and investment in the U.S.-led Indo-Pacific Economic Corridor (IPEC) remain low compared with China’s down payment, the potential change in the balance of power in South Asia has triggered increasing concern from and collaboration between the United States and India. All Sections Search. This major tie-up provides Beijing with vital access to the Arabian Sea, while adding an extension to China’s Belt and Road Initiative (BRI). It is a Chinese initiative. transportation infrastructure, industrial sector, border-crossing points development, trade facilitation and customs procedures, The corridor plans to offer a more economical and quicker alternative ... and developing stories to watch across the Asia-Pacific. Naimat Khattak. The Corridor is also supporting people to return home and a limited number of international experts. Beijing’s flagship programme, the China-Pakistan Economic Corridor (CPEC) worth approximately $62 billion, has already received criticism from India and the US. The Asia-Africa Growth Corridor or AAGC is an economic cooperation agreement between the governments of India, Japan and multiple African countries. New Delhi (Sputnik) — "Our concerns are well known. Its ultimate goal is to support the transformation of Thailand into a country that thrives on innovation and enhances the quality-of-life of its people on a sustainable and self sufficiency path. This would further cause discomfort for China vis-à-vis its economic interests and security in the region of the Asia- Pacific. The others are the Ontario–Quebec Continental Gateway and Trade Corridor and the Atlantic Gateway. China has invested billions of dollars in Pakistan under the CPEC project and is keen to expand the initiative to mineral-rich Afghanistan. NAY PYI TAW, Jan. 12 (Xinhua) -- Visiting Chinese State Councilor and Foreign Minister Wang Yi and Myanmar's Commander-in-Chief of Defense Services Min Aung Hlaing agreed here on Tuesday to accelerate the construction of the China-Myanmar Economic Corridor (CMEC) to boost bilateral ties. Jun 24, 2016 Article history. The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It is similar to the federal government s Asia Pacific Gateway and Corridor Initiative Official relations with Asia across the Pacific This idea was the premise for the creation of the Asia Pacific Gateway and Corridor Initiative whose mission infrastructure and capacity. Islamabad, Pakistan – The China-Pakistan Economic Corridor (CPEC) is a USD 46 billion joint project to enhance connectivity and industrial cooperation. There's much more to the China-Pakistan Economic Corridor than the rosy headlines touting friendship between Islamabad and Beijing. ISLAMABAD, March 19 (Xinhua) -- Pakistani Foreign Minister Shah Mahmood Qureshi said on Thursday that the China-Pakistan Economic Corridor (CPEC) is a "quintessential" connectivity project. All major players of the region are members – India, the United States, China, Japan, Korea, Australia, New Zealand, Russia and the ASEAN 10 member states. March 2020; Asia-Pacific Economic … The AAGC will give priority to development projects in health and pharmaceuticals, agriculture and agro-processing, disaster management and skill enhancement. The Research and Information System for Developing Countries (RIS), New Delhi, the Economic Research Institute for ASEAN and East Asia (ERIA), Jakarta, and Institute of Developing Economies (IDE-JETRO), Tokyo, have developed the Vision Document based on consultations with Asian and African think-tanks. It will be essential to ensure that these projects continue to receive adequate support, and to create synergies between them that can help to make the whole greater than the sum … NAY PYI TAW, Jan. 12 (Xinhua) -- Visiting Chinese State Councilor and Foreign Minister Wang Yi and Myanmar's Commander-in-Chief of Defense Services Min Aung Hlaing agreed here on Tuesday to accelerate the construction of the China-Myanmar Economic Corridor (CMEC) to boost bilateral ties.

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