The changing geopolitical environment of the world has elevated importance of the trilateral partnership that binds Pakistan, China and Saudi Arab together resulting in enhanced regional economic cooperation. This partnership ensures stability in addition to reaping economic benefits.
The alliance is culmination of mutual interests and reciprocal relationship between the three countries.
Pakistan – Saudi Arab Relationship
The ties between Pakistan and Saudi Arab are deep rooted and affectionate rooted in history. The relations get solidified by mutual religion that both countries share. Thus, they have a longstanding partnership marked by mutual support during challenging times.
This was evident in April when a A “high-level” Saudi Arabia delegation led by Foreign Minister Prince Faisal bin Farhan arrived in Pakistan on a two-day visit. The visit took place to expedite follow up on the understanding reached between Prime Minister Shehbaz Sharif and Crown Prince Mohammad bin Salman during their recent meeting in Makkah to strengthen bilateral economic cooperation. Pakistan has proposed 25 projects seeking investments totaling over $32 billion, including a $2 billion rail link connecting major mining sites to Gwadar.
As Pakistan is at critical crossroads economically, the inception of the Special Investment Facilitation Council (SIFC) represents a pivotal juncture in Pakistan’s economic evolution. The SIFC’s establishment signifies Pakistan’s commitment to economic resurgence and foreign investment attraction. The SIFC’s garnering investment from Saudi Arab can prove to a stepping stone towards economic growth.
Pakistan – China Relationship
Sino-Pakistan relations have demonstrated a high level of consistency, since the beginning of their diplomatic relations in 1951. For Pakistan, China is a role model as far as social and human development is concerned. Turning around the economy of China within one generation is a lesson that Pakistan strives to learn.
China Pakistan Economic Corridor stands as a testament to the consistent bilateral relations and the partnership that extends beyond the economic domain. CPEC is a carefully designed initiative aimed at fostering meaningful cooperation between China and its neighboring regions, benefiting not only China but also West, Central, and South Asia.
The strategic significance of the China-Pakistan Economic Corridor should be assessed from historical, economic, cultural, and geopolitical perspectives, based on the principle of a win-win situation. Looking ahead, it appears that China and Pakistan will continue to pursue a policy of constructive engagement, driven by their mutually beneficial relationship.
CPEC reflects two key trends in China-Pakistan relations: a long history of economic cooperation over the past six decades, which has built strong confidence to embark on major projects, and a shared aspiration for a prosperous and stable future for their peoples.
Convergence of Relations
The involvement of Pakistan, China, and Saudi Arabia highlights a commitment to multilateral cooperation that goes beyond traditional bilateral relationships. This trilateral approach leverages each country’s unique strengths to foster shared development and stability.
Saudi Arab is opting of diversification of economy moving beyond the realm of oil. The strategic economic alliances formed through these exchanges could greatly enhance Pakistan’s infrastructure. By focusing on energy, mining, and manufacturing, these initiatives aim to boost Pakistan’s economy and lay the groundwork for long-term growth. Upon full implementation, they are expected to significantly contribute to creating employment and skill development in the region.
Pakistan’s primary concerns with the CPEC stemmed from its ambitious development plans which could damage environment. To cater to this, Pakistan and China’s have moved towards a Green CPEC initiative which focuses on environment sustainability.
As China already is significantly investing in Pakistan under the umbrella of CPEC, Saudi Arab’s economic engagement with Pakistan will add a new dimension to these relations built on mutual prosperity and commitment to a reliable future. In this aspect, Pakistan’s strategic location, with Gwadar as a key warm water port leverages its position in this partnership to cultivate maximum benefit out of this partnership. A three dimensional alliance s not merely a diplomatic or commercial agreement but a strategic collaboration aimed at ensuring regional stability and economic prosperity.
This partnership will ensure both regional security and economic development. However, regional and global threats continue to undermine this alliance. The commitment of the countries in this new axis will be essential in moving forward in order to fortify this diplomatic and economic trilateral relationship.
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