CPEC has added practical dimension to Pakistan-China strategic partnership : FM

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ISLAMABAD, Jul 20 (APP):Foreign Minister Abdullah Hussain Haroon on Friday said that China Pakistan Economic Corridor (CPEC) had added a practical dimension to the strategic partnership between the two countries and through its energy and infrastructure projects, CPEC has already started yielding dividends for Pakistan.
He said that Pakistan-China relations were a shining example of win-win cooperation and commended President Xi Jinping’s visionary Belt and Road Initiative and CPEC as the flagship project of BRI.
The foreign minister was speaking at a function about Belt and Road Initiative (BRI) and CPEC at the Ministry of Foreign Affairs.
Henry Tillman, Chairman and Chief Executive Officer, Grisons Peak Investment Bank, UK, which is an authority on BRI & CPEC and other Chinese economic initiatives the world over in a comprehensive
presentation, outlined the impressive successes and milestones achieved by CPEC.
Agreeing with the foreign minister, Tillman highlighted the successes of BRI and CPEC projects and
their economic impact. He said that CPEC was benefiting Pakistan in practical terms especially in the
energy and infrastructure sectors.
Several power projects had been completed and a number of roads had been built, he said and
added many projects in energy and infrastructure were in completion phases. He said that CPEC
would generate 800,000 jobs.
Tillman also highlighted the expected positive spillover impact of BRI and CPEC on FDI from
other countries, as well as development of Pakistan’s construction, manufacturing, tourism and
e-commerce sectors.
He focused on the tremendous opportunities to be made available through the Special Economic
Zones, which were already attracting international interest and could act as catalysts for accelerated
economic and industrial growth.
Appreciating the success of CPEC, Tillman opined that in comparison to other BRI corridors Pakistan
had done well in fast tracking CPEC, due to which negativity about Pakistan was dissipating, many
major companies were coming to Pakistan, revenue was being generated and new opportunities for
investment were opening up.
President Xi Jinping had shown his full confidence in Pakistan by committing to invest more than
US $ 60 billion through CPEC. He stressed that Pakistan had the gift of being ahead of everyone
else involved in BRI.
The event is part of Ministry of Foreign Affairs’ ongoing efforts to highlight the positive impact
of CPEC on Pakistan’s economy and its importance for regional connectivity.
The event which was hosted by Foreign Minister Abdullah Hussain Haroon, was attended inter
alia by Minister for Finance, Dr. Shamshad Akhtar; Minister for Law and Justice Syed Ali Zafar,
Ambassador of People’s Republic of China to Pakistan, HE Yao Jing, CEOs of Chinese Companies
and senior government officials.
A large number of members of Islamabad’s think tank community and academia also
participated.