ISLAMABAD: Ambassador of China to Pakistan, Yao Jing has said that the business community of Pakistan should get benefits from special economic zones to be set up under China Pakistan Economic Corridor (CPEC) and also develop mutually beneficial JVs with Chinese counterparts.
He said that CPEC is a win-win project for both countries as it would contribute to its long-term economic development as well as the development of the whole region. It would further strengthen bilateral relations between the two countries, he said.
In a meeting with the business community on his visit to FPCCI (Federation of Pakistan Chambers of Commerce and Industry) Capital Office, Yao said that there are joint ventures in economic zones and both countries will work together aiming for 80 per cent exports. He said that China is going to facilitate the business community by offering one-year multiple visas after the recommendation of respective Chambers and Federation.
Chinese Ambassador said China considered Pakistan as a most reliable friend and wanted to see it economically developed as a strong Pakistan was good for China and for the region. He said China believes that CPEC would put Pakistan on the path of industrialisation, jobs creation and regional connectivity. He said CPEC would also help Pakistan in overcoming energy problems and improving its economic growth through the construction of roads and railways network.
FPCCI President Ghazanfar Bilour said that Pakistan’s strategic partnership with China is based on high degree of trust and commonality of interests. As a spokesman for the private sector, i wish to restate that the business community of Pakistan perceives China as a time-tested friend and a very important partner in its economic development and bilateral trade. Earlier in 2007-08, Pakistan’s major export destination was USA, UAE, Afghanistan, UK, and Germany. Now, China is Pakistan’s largest trading partner and Pakistan is China’s second largest trading partner in South Asia.
He added that the Karakorum Highway which was constructed by both countries in 1970-80’s as a joint venture. This shortest communication network now has transformed into Pak-China Economic Corridor (CPEC) and it would boost commerce and trade between the countries. He said $65 billion CPEC investment is the potential of Pakistan’s economy. China supports Pakistani industries to enhance the capacity and technology transfer and by investing in Pakistan, Chinese investors would be able to produce competitive products and promote exports from Pakistan to South Asia, Middle East and other regional markets.
