- MoU signed for industrial cooperation with an aim to attract investments in special economic zones
- JCC agrees to implement poverty alleviation demonstration projects in all regions of Pakistan
BEIJING: Planning, Development and Reform Minister Makhdum Khusro Bakhtiar on Thursday reiterated Pakistan’s firm commitment to the China Pakistan Economic Corridor (CPEC), which he termed as “the heart and soul of Pak-China economic cooperation”.
Bakhtiar made these remarks in Beijing at the 8th meeting of the Joint Coordination Committee (JCC) which he co-chaired along with China’s National Development and Reform Commission Vice Chairman Ning Jizhe. Sindh Chief Minister Murad Ali Shah, Board of Investment Chairman Haroon Sharif, and representatives of provincial governments and officials from both sides attended the meeting.
Appreciating the progress made under CPEC, the planning minister said, “The stage is now set to take the corridor to the next level wherein the cooperation could be diversified to more trade and industrial collaborations, socioeconomic development, agriculture, people-to-people interaction and knowledge sharing, as per the clear vision of our leadership.”
Highlights of the JCC included the conclusion of a memorandum of understanding on industrial cooperation and establishment of a cooperation framework on socioeconomic development.
The MoU of industrial cooperation would include cooperation in diverse industries such as textiles, petrochemicals, iron and steel, and mines and minerals.
The planning minister said that cooperation in the industrial sector would help attract investment in special economic zones and would also encourage Chinese industrialists to relocate their business.
Both sides on the occasion agreed to expedite cooperation for the development of special economic zones. For the next phase of CPEC, both sides agreed to cooperate in maritime sector, port development and automobile sector.
The neighboring countries also discussed in details ways to promote joint ventures and industrial relocation from China in order to harness Pakistan’s export potential.
The two sides reviewed the first meeting of the recently established Joint Working Group on socioeconomic cooperation which discussed a detailed action plan in six areas for future cooperation, including education, agriculture, poverty alleviation, skill development, healthcare, water supply, and vocational training.
The JCC agreed on poverty alleviation demonstration projects in all regions of Pakistan. It was decided that the first meeting of the Joint Working Group on agriculture would take place early next year.
In his remarks, NDRC Vice Chairman Ning Jizhe said that CPEC serves the fundamental interest of Pakistan and China and their people. Calling the visit of Prime Minister Imran Khan to China as “phenomenal success”, he expressed confidence that the Pakistan-China relationship would continue to grow and prosper.
While reviewing the areas of cooperation under CPEC, both sides expressed satisfaction and showed a willingness to expedite work on all projects, including Gwadar.
Planning Minister Bakhtiar said that Gwadar is the jewel of CPEC and with the development of its auxiliary projects, it is poised to become the next big economic and transshipment hub of the region.
Following the JCC meeting, the NDRC Chairman hosted a banquet in the honour of Bakhtiar at Diaoyutai State Guest House. This was followed by a signing ceremony in which the MoU on industrial cooperation was signed.
Both sides agreed to broaden the scope of CPEC by further strengthening the JCC mechanism through increased frequency of exchanges.
