China’s Consul General Sun Yan announced on May 5, 2026, that the second phase of the China-Pakistan Economic Corridor (CPEC 2.0) will prioritize high-quality development. This includes industrialisation, agricultural modernisation, technological innovation, and a focus on green growth and livelihood improvement. The announcement was made during a conference at the Lahore Chamber of Commerce and Industry (LCCI) celebrating the 10th anniversary of the Gold Ring Economic Forum (GREF).
Sun Yan described the China-Pakistan relationship as an ‘ironclad partnership’ built on trust and shared objectives. He emphasized CPEC’s significant contributions to Pakistan’s energy security, infrastructure, and industrial growth. The new phase is expected to open further avenues for investment and employment, with Gwadar Port positioned as a key regional trade hub linking the Arabian Sea with Central Asia. Sun Yan also invited broader international participation in CPEC under mutually agreed frameworks.
Iran’s Consul General Mehran Movahedfar lauded Pakistan’s constructive role in promoting regional peace and stability. He expressed gratitude towards Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, stressing that sustainable peace requires mutual respect and inclusive regional engagement.
LCCI Senior Vice President Tanveer Ahmad Sheikh highlighted the combined market potential of the Golden Ring countries, including Pakistan, China, Iran, Türkiye, and Russia, which exceeds $6.5 trillion. He outlined policy priorities such as enhanced financial connectivity, removal of non-tariff barriers, and the promotion of export-oriented sectors like textiles, agriculture, and pharmaceuticals.
Published in SouthAsianDesk, May 7, 2026
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