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Second CPEC phase to boost industrial cooperation

ISLAMABAD 28th July: The second phase of China-Pakistan Economic Corridor (CPEC) is very important for Pakistan as it will give a boost to industrial cooperation and give birth to Special Economic Zones (SEZs), remarked Sichuan University Deputy Dean International Studies Professor Dr Song Zhihui.

Speaking at the ICCI, Song stressed that the setting up of SEZs would in turn create new opportunities for entrepreneurs of both countries for forming joint ventures and investing in areas of interest.

“The first phase of CPEC focused on energy and infrastructure development in Pakistan while the second phase will focus on industrial cooperation, which will yield beneficial results for the economy of Pakistan,” he said.

“Several companies of China are interested in investing and setting up factories in Pakistan because it is the best place for them.” He expressed the desire to organise a tourism promotion conference for Pakistan in a bid to highlight its tourism potential. Song added that China was eager to enhance imports from Pakistan, which would uplift Pakistan’s exports. He urged the ICCI to cooperate in connecting right partners with Chinese counterparts in SEZs and other areas.

Speaking to the delegation, ICCI President Ahmed Hassan Moughal said the establishment of SEZs in Pakistan under CPEC would kick off a new phase of business opportunities in the country.

He asked Chinese companies to enter Pakistan with technology transfer for joint ventures and investment.

“Due to the growing population and emerging market, many sectors of Pakistan’s economy offer immense potential for investment and Chinese companies should benefit from these emerging opportunities,” he said. 

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