Pakistan and China have agreed to fast track implementation of industrial cooperation under China Pakistan Economic Corridor, utilizing Chinese experiences to ensure speedy development of special economic zones in Pakistan
Islamabad (Pakistan Point News / Online - 30th August, 2019) Pakistan and China have agreed to fast track implementation of industrial cooperation under China Pakistan Economic Corridor, utilizing Chinese experiences to ensure speedy development of special economic zones in Pakistan.It was decided in a meeting at board of Investment jointly chaired by Secretary BoI Omer Rasul and Deputy Director General of National Development & Reform Commission (NDRC), China the other day.
Officials from China and Project Management Unit BOI were also present on the occasion.Secretary BoI Omer Rasul briefed the NDRC delegation regarding the steps being taken by Pakistan side to ensure early implementation of industrial cooperation. He told that after completion of the first phase of CPEC, project in energy and road infrastructure sectors have achieved its commercial operation and in the second phase, all is set to start implementation of industrial cooperation as envisioned.
He intimated that ground breaking of Rashakai SEZ in Khyber Pakhtunkhwa is planned next month. Two more SEZs; China Special Economic Zone, Dhabeji at Sindh and Allama Iqbal Industrial City (M3), Faisalabad would follow similar pattern of development, he added. Government of Pakistan has alerted all the line ministries and sufficient funds have been allocated to start provision of utilities in line with the development of these SEZs, he informed.
He underscored the need of creating a government to government (G2G) framework to give a firm push to industrial cooperation which would be carried out in business to business mode.The delegation of NDRC appreciated Pakistan's efforts and informed that Chinese investors are willing to invest in the development and population of SEZs under CPEC. Mr. Gao Jiandeclared industrial cooperation as a main gain and real focus of CPEC that could help the country to develop its industrial cluster based on its potentials. The Chinese side offered to train and equip Pakistan's small and medium enterprises (SMEs), making them technologically sound and competitive to ensure rise in export.Both sides further discussed agenda for Joint Working Group (JWG) on industrial cooperation and forthcoming Joint Cooperation Committee (JCC), expected to be held in October or November this year.
