CPEC helps Pakistan grow & overcome its financial deficit: PM Abbasi

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HAINAN, south China : Pakistani Prime Minister Shahid Khaqan Abbasi lauded the China-Pakistan Economic Corridor (CPEC) citing all the benefits it gives to both countries.

Abbasi made the remarks in Hainan, south China, during the ongoing Boao Forum for Asia (BFA) annual conference.

He said the CPEC is going well and that it continues to be a good initiative in the region and part of connectivity in Asia. Pakistan has seen growth in the region and is very optimistic about Belt and Road Initiative and is sure that it will benefit the region and the world.

As for debt paying ability, he said numbers speak for themselves. With five percent of economic growth, all are positive signs.

The corridor has already helped Pakistan grow and overcome its financial deficit. Pakistan has seen 1,700 miles of multi-lane motor ways built and special economic zones set up. Infrastructure in the south Asian country is also improving: The Gwadar port is operational, providing the whole Central Asia access to the sea.

He said China is champion of economic liberalization while the US is talking about protectionism. Pakistan does not believe in protectionism. Opening and liberalization is the way forward.

Abbasi said Pakistan adopted yuan as reserve currency as a management strategy of its finance. It will also benefit bilateral trade which is improving. On the other hand, it will help yuan become an international currency.

Pakistan will join the Shanghai Cooperation Organization (SCO) Summit in June in Qingdao. Abbasi said SCO is a regional multilateral cooperation mechanism. The inclusion of Pakistan will also benefit other parties. He said both India and Pakistan are joining and Pakistan views the move to improving bilateral relations.

Abbasi will meet Chinese President Xi Jinping on the sidelines of the BFA and he said he believes in the vision of China, not just for the region but the world.

Orignally published by INP

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