This international trade related article is a stub. You can help Wikipedia by expanding it. ... an initiative of this size is another aspect that would be difficult to arrange in countries lacking China’s command economy. And India is expected to be a vital player in both projects. 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). China has invested billions of dollars in Pakistan under the CPEC project and is keen to expand the initiative to mineral-rich Afghanistan. It is a Chinese initiative. Reuters. 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. Islamabad, Pakistan – The China-Pakistan Economic Corridor (CPEC) is a USD 46 billion joint project to enhance connectivity and industrial cooperation. According to the Vision Document many fields of collaboration were laid out. The China-Pakistan Economic Corridor (CPEC) passes through sovereign Indian Territory. New Delhi (Sputnik) — "Our concerns are well known. 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. 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. 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. READ PAPER. 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. 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. Asia Pacific. 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. The Asia-Africa Growth Corridor or AAGC is an economic cooperation agreement between the governments of India, Japan and multiple African countries. China has strongly refuted suggestions its multibillion-dollar economic corridor now under construction with Pakistan has "hidden" military designs as well. Asian member countries (10): Bangladesh, India, Iran , Japan , the Maldives , Mongolia , Myanmar , … 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 … 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. Economic Corridor (EEC) infrastructure will be crucial to continuing the growth momentum. 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. 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. Asian countries are now increasingly participating in ownership of the world shipping fleet. 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. Exports are expected to continue to anchor economic activity, supported by the influx of foreign direct investment (FDI). 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. 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. Asia Pacific Business Review The China-Pakistan economic corridor of the belt and road initiative concept, context and assessment. Asia Pacific China, Russia, Mongolia ink economic corridor plan. 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. The Asia–Pacific Gateway and Corridor Initiative is one of three gateway projects initiated by the government. Jun 24, 2016 Article history. The China-Pakistan Economic Corridor (CPEC) passes through sovereign Indian Territory. The OBOR is part of China’s grand strategy of its peaceful rise as a [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 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. 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. 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. 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. 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 These offer distinct investment roadmaps whose development is overseen by their individual governing bodies. The $46 billion China-Pakistan Economic Corridor stretches from Kashgar in China's western Xinjiang province to … 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). Governments, consumers, China, Mongolia and Russia will cooperate in seven areas to build a trilateral economic corridor, according to guidelines released last week. The connectivity aspects of the AAGC will be supplemented with quality infrastructure. Whilst the Chinese “open up strategy” attracted foreign investors and promoted its … Naimat Khattak. 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. Outside of government, much of the policy research on Gateway issues is conducted by the Asia Pacific Foundation of Canada. The China-Pakistan Economic Corridor (CPEC) is transforming the remote but spectacular Gilgit-Baltistan or the GB region of Pakistan. All Sections Search. 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. There is scope for Asia to share its experiences of growth and development with Africa. This examination was accomplished by completing document and literature reviews, key informant interviews, and an analysis of national transportation and economic data. 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. He said the two countries should also strengthen cultural exchanges to enrich the concept of … Digital connectivity will also support the growth of innovative technology and services between Asia and Africa. It is a Chinese initiative. By Ellen Boonstra, Asia correspondent >>. The objective is to create an integrated economic space through the cross-border integration of the main cities of the region. 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. Malaysia is home to five investment corridors (a type of special economic zone). “China has a larger vision of its engagement with Afghanistan, which […] • Viet Nam ’s medium-term growth is projected to grow to 6.5% on average in 2019-23 from 5.9% in 2012-16. Eastern Economic Corridor : 20 percent of the Thailand’s total GDP. The Asia-Africa Growth Corridor or AAGC is an economic cooperation agreement between the governments of India, Japan and multiple African countries. 2.2. 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. 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]. 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. 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 Corridor is also supporting people to return home and a limited number of international experts. 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. 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. 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. 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. China-Pakistan Economic Corridor A Game Changer. 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. 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.