Abstract:
The China Pakistan Economic Corridor (CPEC) is one of the major bilateral initiatives that aim to link Gwadar Port in the southern province of Baluchistan with the Xinjiang region of China through a network of roads, railway, and energy projects. This will prove to be an important component of China's Belt and Road Initiative (BRI) and potentially revolutionize regional connectivity, drives economic growth, and enhances intra-Asian trade and investment. But the project also has major issues, like concerns about politics and security, other include concerns about the environment, society, finances, and the absence of dispute resolution mechanisms between local investors and foreign investors. This thesis examines and evaluates the laws and practices related to dispute resolutions in Pakistan and China particularly the bilateral investment agreements pertaining to CPEC. This thesis also examines both the challenges and opportunities of CPEC, mostly focusing what the dispute settling mechanisms ought to be. It reviews how disputes are handled among all the parties involved, including government, private sector entities, and local communities. This study establishes the significance of having clear, fair, and workable mechanisms of dispute resolution systems that could resolve conflicts emerging during the various phases of a project, be it planning and construction or operational and management stages, these are the necessities that are needed to be developed so that confidence in the stakeholder community can be sustained over the long run to the success of CPEC. This thesis employs non doctrinal research methodology combined with case study method. The research seeks to contribute nuanced insights to the field of international investment law and enhance understanding of the complexities inherent in resolving disputes arising from bilateral investments. Beyond dispute resolution analysis, this research also addresses the broader economic and social effects of CPEC. The research findings show that the initiative holds the potential to generate economic growth, create jobs, and strengthen regional integration, but this will only happen if critical risks are addressed. The analysis suggests that CPEC is a transformational initiative capable of altering regional dynamics if administered proficiently. To achieve its maximum potential, ongoing efforts are required to enhance governance structures, reduce risks, and guarantee inclusivity in decision-making. This study enhances the existing literature on CPEC by providing insights into its diverse consequences and emphasizing the necessity of effective channels to resolve disagreements and issues. This establishes a basis for more study and policy suggestions to guarantee the sustainability and success of CPEC in the future.
