APEC sees China make progress in Silk Road initiatives

China and Pakistan signed several agreements on the sidelines of the recent Asia-Pacific Economic Cooperation (APEC) Summit in Beijing, including the further development of Pakistan’s Gwadar Port, which is expected to become an important part of China’s plans to build new Silk Roads, Guangzhou’s 21st Century Business Herald reports.

China began investing in Gwadar Port on the southeast coast of Pakistan in March 2002 and it is set to become a key hub for goods to be delivered to China both by sea and land routes in the future, the paper said.

This is because China and Pakistan are building an economic corridor between the two countries which includes the construction of highways, rail links, oil and gas pipelines and communication fiber optic cables. Continue reading