China terms 2nd phase of CPEC very important for Pakistan


Observer Report


The 2nd phase of CPEC was very important for Pakistan as it would give boost to industrial cooperation and establish many Special Economic Zones in Pakistan creating new opportunities for entrepreneurs of both countries to set up JVs and investment in areas of interest.
This was said by Prof. Dr. Song Zhihui, Senior Researcher on One Belt One Road project and Deputy Dean of International Studies, Sichuan University while addressing business community at Islamabad Chamber of Commerce & Industry. He was accompanied by Kashif M. Khan, Managing Director, Global Entrepreneurship Network, Pakistan.
Prof. Dr. Song Zhihui said that the first phase of CPEC focused on energy and infrastructure development in Pakistan while the 2nd phase would focus on industrial cooperation that would yield beneficial results for the economy of Pakistan. He said that many companies of China were interested to invest in Pakistan and set up factories here as Pakistan was a best place for them. He said he wanted to organize a tourism promotion conference for Pakistan to highlight its tourism potential. He said China wanted to enhance its imports from Pakistan that would increase Pakistan’s exports. He said ICCI should cooperate in connecting right partners with Chinese counterparts in SEZs and in other sectors.
Addressing the delegation, Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that establishment of SEZs in Pakistan under CPEC would start a new phase of business opportunities in our country and stressed that Chinese companies should come to Pakistan with technology transfer for JVs and investment. He said that due to rising population and emerging market, many sectors of Pakistan’s economy offered great potential for investment and Chinese companies should take benefit of this emerging opportunities. He said that by investing in Pakistan, Chinese companies would be able to meet the needs of local market and export surplus products to many countries including Middle East, Central Asia and other regions. He assured that ICCI would extend all possible cooperation to Chinese companies for finding right partners in Pakistan.
Rafat Farid Senior Vice President ICCI and others also spoke at the occasion and highlighted the potential areas of cooperation between the enterprises of both countries. Both sides discussed prospects for further strengthening business collaboration between the two countries for achieving win-win outcomes.

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