BEIJING, July 11 (APP):Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal Chaudhary said that China Pakistan Economic Corridor (CPEC) is a landmark project in the development history of Pakistan-China relations which will bring prosperity and socio-economic uplift to the people of Pakistan and also contribute to the regional connectivity and development.

He made these remarks during a meeting with Chairman, China International Development Cooperation Agency (CIDCA), Luo Zhaohui here.

He was accompanied by Chief Economist Planning Division Dr. Muhammad Nadeem Javaid and senior officials of the Embassy.

Paying rich tribute to the leadership of the two countries for providing strategic guidance to the development of CPEC, the minister highlighted key projects that have been completed since the launch of CPEC a decade ago.

During the meeting, Planning Minister conveyed best wishes and congratulations of Prime Minister Shehbaz Sharif to Chairman CIDCA on the successful holding of the “First High-Level Conference of the Forum on Global Action for Shared Development”.

The minister appreciated the strong partnership between Planning Division and CIDCA on socio-economic development projects in different areas including agriculture, health, education, vocational education, water supply, and poverty alleviation under the CPEC framework.

He especially commended CIDCA’s strong support for development projects in Gwadar.

Commending the Global Development Initiative (GDI) of President Xi Jinping which Pakistan has joined as the first partner country, the Minister expressed hope that the two sides will further strengthen bilateral cooperation in priority areas under this historic framework.

Chairman Luo appreciated the contributions of the minister to the advancement of CPEC and assured him of CIDCA’s long-term commitment to the high-quality development of CPEC.

He also welcomed the Minister’s proposal of setting-up Expert Groups on enhancing Pakistan’s export potential and development of Special Economic Zones & industrial parks on the basis of the Chinese experience.

BEIJING, July 11 (APP):Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal briefed the Chinese companies on the latest steps taken by the Government of Pakistan to facilitate investment and stated that Phase II of the China-Pakistan Economic Corridor (CPEC) was increasing the bilateral cooperation in industrial, infrastructure and information technology sectors.

The minister hosted a dinner for the Chinese Companies working in Pakistan on CPEC-related projects, in Beijing.
The dinner was organized as part of celebrations of the Decade of CPEC (2013-23) to acknowledge the contributions of Chinese enterprises and companies in Pakistan’s development through CPEC-related projects.

Addressing the participants, he also emphasized on business-to-business collaboration would be the hallmark of this phase of CPEC.

The minister also highlighted that the Government of Pakistan had formulated a Special Investment Facilitation Council (SIFC) for the economic revival of the country.

The SIFC will be chaired by the Prime Minister of Pakistan, with the Chief of Army Staff and Federal Ministers as its members. This is in line with the Government of Pakistan’s vision to promote investment and prioritize exports.
Prof Ahsan Iqbal encouraged Chinese enterprises and investors to explore more investment opportunities in Pakistan.

He said both China and Pakistan would benefit from greater Chinese investment in Pakistan. It would not only support Pakistan’s economy but would provide an avenue for Chinese companies to sell products manufactured in Pakistan into the Chinese market and elsewhere in the world.

He solicited the support of Chinese Companies working in Pakistan to attract more foreign direct investment from China into Pakistan.

The minister recalled that the CPEC journey had started during Prime Minister Nawaz Sharif’s visit to China and within a few years it grew to encompass more than 25-billion-dollar projects, ranging from energy to infrastructure and information technology.

He appreciated the active role and support of Chinese leadership and enterprises in this endeavour, in particular during Pakistan’s economic hardship.

The dinner was followed by a cake-cutting ceremony to commemorate the Decade of CPEC (2013-23).

Chairmen, Presidents and senior representatives of over 20 Chinese companies and enterprises participated in the event, which also provided them an opportunity to share their ideas and suggestions for further increasing the mutually beneficial cooperation between Pakistan and China.

The minister is on a visit to China (9-12 July 2023) during which he will lead Pakistan’s delegation to the 12th (Special) JCC Meeting.