BEIJING: Pakistan’s Ambassador to China Masood Khalid on Saturday said the industrial cooperation was an important component of the China-Pakistan Economic Corridor (CPEC) and now the two countries were jointly working for the establishment of special industrial zones in Pakistan.
“China has a vast experience of setting up industrial parks and economic zones and Pakistan will establish special economic zones with its cooperation to strengthen economy and create employment opportunities for the local people,” he said while addressing a seminar held here to discuss industrial cooperation between China and Pakistan and setting up of economic zones under the CPEC framework.
The seminar organised by Pakistani Centre for Studies at Peking University was attended by diplomats, intellectuals, and academicians from the two countries.
Ambassador Khalid said China and Pakistan were strategic partners and all weather friends and added that both the countries had historical and deep-rooted relations based on mutual trust.
He said the relations between the two countries had been strengthening with the passage of time and now the Pak-China friendship was an example for other countries of the region.
“The CPEC is a flagship project under the Belt and Road Initiative and reflective of the vision of the top leadership of the two countries,” he added.
Ambassador Khalid said the CPEC project witnessed progress since its beginning in 2013 as a number of electricity generation projects had been completed to overcome electricity shortage in the country.
Pakistan, he said, was determined for the successful completion of CPEC projects and the government had made comprehensive arrangements for the security of Chinese citizens working on the projects under CPEC.
He said the CPEC would not only promote peace and stability but also bring economic prosperity in the region.
The ambassador expressed the confidence that the CPEC would play an important role in the economic development of both China and Pakistan and benefit their people.
Ministry of Planning, Development and Reforms Director CPEC Project Hassan Dawood Butt informed the participants that there was a consensus between Pakistan and China to enhance industrial cooperation at a fast pace. In that regards, the Chinese experts were working with the Pakistani institutions, he added.
SDPI Head Abid Qayyum Sulehri said the country’s economy would register a higher growth with the establishment of special economic zones in the country, alleviate poverty and create employment opportunities for local people.
Other speakers expressed satisfaction over the pace of work on the projects being completed under CPEC and said it was an example for other countries of the Belt and Road Initiative.
Establishment of special industrial zones under CPEC is a step in the right direction to strengthen Pakistan economy and providing employment to millions unemployed youth. While identifying potential projects, emphasis should be to the processing agro base and agro allied products into value added exportable commodities. Just for reference, half of Pakistani cotton is exported in raw form that fetches very little foreign exchange. But if converted into value added products like fashion garments and other made ups, it can bring say 20 times more FE and can provide employment to hundred thousands youth along with many other socio economic benefits to the people of Pakistan. m. aslam ch