Pakistan-China relations transforming into enhanced economic ties: PM

KARACHI: Prime Minister Shehbaz Sharif, emphasising the transformation of friendly relations between China and Pakistan into enhanced investment, economic and trade ties, said that the next phase of CPEC will mainly involve business to business arrangements particularly in industrial sector.

He expressed the views while addressing the representatives of international companies doing business in Pakistan including China here on Friday. Governor and Chief Minister of Sindh, Federal Ministers, prominent businessmen and senior officers were also present on this occasion.

“Pakistan and China are two iron brothers and now we have to convert these relations of brotherhood and friendship into enhanced investment, economic and trade relations particularly in the fields of agriculture, information technology, mines, minerals and infrastructure,” he said.

Being an agrarian economy with over 60pc rural population Pakistan need to further strengthen and augment its agricultural produce, he said and informed that Pakistani agricultural exports increased by $3 billion in the last financial year while we have fixed a target of additional $7 billion for the current fiscal year.

Terming it as a quantum leap that required vigorous efforts along with adoption of modern technology and techniques and best practices, PM Shehbaz said that China could be our best partner in achieving this target of boosting agricultural exports and value addition in exports.

Referring to his recent visit of China the PM said that fascinated by wonderful technology and educational culture in Chinese educational institutions he decided to send 1000 Pakistani boys and girls for advance training in China in Agriculture. That program was almost finalized and now these students would go to China for refresher courses, he added.

Encouraging the Chinese businessmen to enter into business cooperation agreement with Pakistani counterparts the PM said that next phase of the China-Pakistan Economic Corridor (CPEC) will mainly consist of business-to-business arrangements and joint ventures in industry particularly in textile, agriculture production and then export of these products to different countries.

He added that Pakistan and China could devise a common mechanism for production and export of such products and it will be a win-win situation for both the countries.

He said that Pak-China friendship is not only higher than mountains but now it is touching skies as Pakistan has sent its own satellite into space with the assistance of China.