Geo-Economic Benefits of the CPEC Project for Pakistan

Abstract

In recent years, Pakistan has embarked on a strategic realignment, prioritizing geo-economics as a central pillar of its foreign policy. In this study, the core question that is addressed is whether geo-economic turn in Pakistan’s foreign policy has led to greater interdependence or enhanced economic, political, and strategic power for Pakistan? The analysis delves into the various dimensions of Pakistan's geo-economic turn, including its efforts to foster regional connectivity, engage in the economic diplomacy, and attract foreign investment. It also examines the nation's evolving relationships with key regional players, such as China, India, Afghanistan, and Central Asian states. Through the study of documents related to the China-Pakistan Economic Corridor (CPEC) and interviews conducted by policymakers and researchers, different dimensions of geo-economics are explored in this paper. A comprehensive review of economic indicators and strategic partnerships helped us to analyze the extent to which Pakistan's geo-economic approach has yielded positive outcomes.