Pure. China's all-weather strategic cooperative partnership is strong and lasting: PM

 

Pure. China's all-weather strategic cooperative partnership is strong and lasting: PM

Image source : Such tv

Pakistan and China China signs the Economic Corridor Industrial Cooperation Framework Agreement (CPC) The agreement was signed by the Minister of State and President of the Investment Council, Muhammad Azfar Ahsan, and the President of the National Development and Reform Commission (NRDC ).

Prime Minister Imran Khan is in China for a four-day visit to attend the opening ceremony of the Winter Olympics and meet with Chinese leaders.

The agreement was signed by the Minister of State and Chairman of the Investment Council Muhammad Azfar Ahsan and Chairman of the National Development and Reform Commission (NRDC).

The Joint Industrial Cooperation Working Group (JWG) aims to attract foreign direct investment (FDI), promote the development of industrial and economic zones, and implement public and private projects. Initiate, plan, implement and monitor them.

JWG's engagement with China aims to increase Pakistan's labor productivity and industrial competitiveness, increase exports and maintain diversification.

At the eighth meeting of the C-Pac Joint Cooperation Committee held in 2018, the two parties signed a Memorandum of Understanding that led to future industrial cooperation commitments between the two parties.

C-Pac has entered its second phase, focusing on the development and industrialization of Special Economic Zones (SEZs), where the need for a comprehensive framework agreement has become unavoidable.

Similar deals have been signed for C-Pac's Early Harvest projects in the energy and infrastructure fields.

Thanks to the continued efforts of the Board of Investments (BOI), the two parties agreed to transform the existing MoU into a framework agreement in 2020.

After extensive consultations between the parties and the approval of the Prime Minister, BOI shared a draft framework with the NDRC in November 2020, which was prepared taking into account the requirements of the second phase of the C-Pack.

The framework agreement signing ceremony is an important outcome of the Prime Minister's visit and the fact that he has a priority program from China demonstrates his interest in C-Pack.

Despite Corona, work on C-Pack projects progressed gradually, says PM

Prime Minister Imran Khan held a virtual meeting with Lifeing, chairman of China's National Development and Reform Commission.

The meeting reviewed the progress of ongoing projects under the C-Pack and discussed preparations for future initiatives.

The prime minister said that Pak. China's all-weather strategic cooperative partnership is strong and lasting.

He said that despite the Corona outbreak, Pak. Work on all China Economic Corridor (CPEC) projects has progressed gradually, bringing tangible benefits to the people of both countries.

He appreciated the efforts of the National Development and Reform Commission of China and relevant authorities on both sides in this regard.

Expressing his satisfaction with C-Pac's Early Harvest projects, the Prime Minister said that these projects have changed the economic landscape of Pakistan and laid a solid foundation for sustainable economic growth.

He pledged to continue efforts to make Gwadar a regional hub for trade and industry and to prioritize ongoing work on ML-1 and other major energy projects.

On the occasion, the Chinese Commission Chairman said that China has become Pakistan's largest trade and investment partner in the past seven years, and the two sides are also willing to maintain comprehensive economic and trade relations in the future.

Expressing China's readiness to help Pakistan in the fields of industrialization, modern agriculture, science, technology and socio-economic development, the China Commission chairman said all relevant Chinese institutions should invest in China projects. -Pac. Efforts will continue to be made to encourage public and private institutions.

In this sense, the two parties decided to establish new green, digital, health, commercial and industrial corridors, which would strengthen the series of cooperation for the subsectors of these sectors.

During the meeting, the two sides also welcomed the signing of the Industrial Cooperation Framework Agreement between the Pakistan Board of Investment and the China NDRC to transform China's industrial units into C-Pac Special Economic Zones. And it will facilitate investment from China and elsewhere.

Source: suchtv