Pakistan to welcome relocation of industry from China

Gwadar Pro

Islamabad: Pakistani side has said it would welcome relocation of industry from China and institute a regime to encourage inflow of Chinese investments to Pakistan.

In a meeting with Chairman China-Pakistan Economic Corridor (CPEC) Authority, Lt. General Asim Salim Bajwa (retd) on Monday evening, Foreign Secretary Sohail Mahmoud maintained that CPEC energy and infrastructure projects had created thousands of jobs and had boosted industrial growth and productivity.

Pakistan and China, he said, were firmly committed to the timely completion of CPEC projects and making it a high-quality demonstration project of the Belt and Road Initiative.
“It is testified to the fact that CPEC’s contribution to strengthening Pakistan’s economic landscape has been real and substantial, ” he emphasized.

The Foreign Secretary underlined that Pakistan’s focus in the next Phase of CPEC is on industrialization and socio-economic development, areas that will create vast jobs and growth opportunities for the common people.
“Three out of the nine CPEC Special Economic Zones (SEZs ) namely Rashakai, Dhabeji and Allama Iqbal, have been prioritized and Pakistan would welcome foreign direct investment in those projects,” he said, quoted by an official statement.

The Foreign Secretary underlined that the government particularly focused on strengthening agricultural cooperation between Pakistan and China.

In that regard, a Plan of Action, detailing the contours of this collaboration, was already being discussed between the two governments. The Foreign Secretary hoped that the Plan of Action will be expeditiously implemented.

It was reaffirmed in the meeting that post-coronavirus, through collective efforts of China and Pakistan, CPEC would become a hub for the regional trade and connectivity and would deepen people-to-people exchanges at a wider level.
Asim Salim Bajwa underscored that the CPEC Authority was committed to ensuring that CPEC projects were completed on time.

He hoped that the 10th Joint Cooperation Committee (JCC), likely to be held in the near future, will create more economic opportunities and contribute to further expansion of CPEC projects.