Iran keen to join CPEC

Islamabad: Iran may soon join the China-Pakistan Economic Corridor (CPEC) as the mega project’s benefits to the region become obvious with each passing day.

China and Pakistan have been open to all countries to join CPEC. China even asked the United States to give up propaganda against the CPEC and try to get its share of business instead by investment, China Economic Net reported.

Iran has expressed interest in joining the CPEC as the $ 60 billion worth of Chinese-funded project enters into next phase of industrial and agriculture cooperation. Over the weekend, Iran’s Commercial Attache to Pakistan, Morad Nemati Zargaran, who was leading a delegation which visited Karachi Chamber of Commerce and Industry (KCCI) said CPEC was essential and opened up huge opportunities for both the countries.

“Iran wants to become part of this project which would surely ensure prosperity in the entire region,” Zargaran said.

The Iranian diplomat said the business communities of the two countries should meet more frequently to improve their contacts and hold exhibitions which would help in improving bilateral trade and investment.

The CPEC is rapidly becoming a source of national integration, economic prosperity and regional stability. The corridor is poised to play a vital role in the development of least developed areas in Pakistan and in promoting regional connectivity.

The benefits of CPEC therefore extends beyond the two countries’ interests. It will benefit the whole region, especially Pakistan, and particularly, Iran, as regional expansion of the CPEC can help Pakistan to strengthen its economic ties with Iran.

The relations between Pakistan and Iran have remained very cordial. Both have very close affiliations, but at this time the volume of trade between them is extremely low.

CPEC is an opportunity for Pakistan and Iran to enhance their economic ties because Pakistan’s Gawadar port and Iran’s Chabahar port both have a unique geostrategic and geopolitical importance. Both ports can be considered as sister ports.

These ports provide a direct entrance into the Persian Gulf through the Strait of Hormuz. If CPEC is linked to Chabahar, it will further boost economic connectivity and cooperation between Pakistan and Iran.

It is an excellent opportunity for Iran to exploit its economic relations with the entire world, and regional countries. Pakistan also wants to avail this opportunity by increasing its collaboration with Iran.

Partnership with Iran on the CPEC project will give relief to Pakistan in a number of ways. Pakistan is an energy-deficient country and is continuously trying to find cheap energy from different sources.

Iran will be another option for Pakistan in a trilateral arrangement between Pakistan, Iran and China, especially for development of Baluchistan which shares the border with Iran.

Provision of electricity and gas from across the border with Iran will be extremely cost effective and may find a willing partner in China who may also invest in such cooperation.