BELT AND ROAD INITIATIVE

Abstract

Chinese Belt and Road Initiative (BRI) is primarily aimed at strategic interconnectedness of Asia, Europe and Africa and regional economic connectivity in South Asia, East, West and Central Asia by maintaining connection among partner countries in highly interconnected globalised World. Pakistan’s integration into BRI through CPEC can play a vital role in terms of regional economic and political development encompassing variety of opportunities for Pakistan. This Chinese initiative will diffuse geopolitical rivalries, giving leverage to geo-economics over geo-politics in South Asian region. BRI also poses multiple and critical geo-strategic challenges for the region especially for Pakistan. The objectives of the study are to explore the possible outcomes of Belt and Road Initiative, Prospects of regional economic developments, Challenges and Opportunities for the region especially for Pakistan. The study brings out the emerging trends concerning primacy of the geo-economics over geopolitics albeit in the nascent stage amid CPEC. The challenges likely to be faced by Pakistan by these developments would equally present numerous opportunities. These, if capitalised through prudent policies and execution would enhance strategic relevance of Pakistan among comity of nations. The paper attempts to proffer relevant policy level recommendations for the implementation.