China Pakistan Economic Corridor (CPEC); Most Valuable Dream for Pakistan through Economic Integration in the Region but May Not Become True without Upgradation of Physical Infrastructure and Legal System!

Abstract

To achieve the goal of sustainable economic development of Pakistan through logistics arrangements in CPEC, this research paper identifies and analyses benefits of CPEC, and also examines and highlights the legal system of Pakistan and its associated deficiencies in this context. Furthermore, this research paper critically examines the present logistics arrangement between China and Pakistan with reference to trade in services commitments and their impacts on such agreement. Governance, law and policy issues towards achieving Sustainable Development Goals (SDGs) are also big concerns for Pakistan. This will raise diverse legal and policy issues hence create uncertainty and conflict of laws both domestic and internationally. These issues can be handled and solved through upgrading domestic transport and logistics laws and making them in line with international practice. Furthermore coordination and cooperation between local institutes and agencies is most important initiative to gain maximum benefits. Adoption and accession of international conventions of transport and logistics will also have key role to play for better results from CPEC. The current research is rested on qualitative and socio- legal methods of research whereby the authors opt for a qualitative research design as opposed to a quantitative one. The research design would be the analysis between road transport and logistics investment laws exists in Pakistan and Chinese model of logistics arrangement formulated in CPEC by both countries. This research paper will discuss these in detail. Firstly, China Pakistan bilateral trade relations and impacts on Pakistan economy. Secondly, CPEC transport and logistics investment in physical infrastructure in Pakistan. Thirdly, analysis of current rules and regulations applicable for China Pakistan bilateral trade and logistics arrangements. Fourthly, CPEC investment and future challenges for Pakistan and finally proposed comprehensive logistics investment framework agreement.