Islamabad: Pakistan and China on Friday intensified efforts to establish a Working Group on five new Economic Corridors under phase 2 of the CPEC, aligning with the 5Es framework already prepared by the Planning Ministry.
\nThis was discussed during a meeting between the Federal Minister of Planning, Development & Special Initiatives, Professor Ahsan Iqbal, and the Chinese envoy, Jiang Zaidong, which lasted over one hour at the Planning Ministry.
\nChinese Ambassador Jiang Zaidong congratulated Professor Ahsan Iqbal on assuming the role of Planning Minister for the fourth time. Both sides have agreed to expedite phase 2 of the CPEC, while deciding to establish a working group on five new economic corridors, including the Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development.
\nBoth the Planning Ministry and the National Development and Reform Commission (NDRC) of China will prepare separate concept papers on the new economic corridors, which will provide a clear roadmap for each sector in the future. These concept papers will be consolidated before presentation at the upcoming Joint Coordination Committee (JCC) meeting expected in 2024, stated the Planning Ministry.
\nThe Planning Ministry has already initiated the implementation of the 5Es framework, which includes Export, Energy, Equity, E-Pakistan, and Environment. This framework will be aligned with the five new economic corridors to advance Pakistan\u2019s prosperity in each sector under the vision of Prime Minister Shahbaz Sharif, emphasized the Minister, highlighting the importance of accelerating Pakistan\u2019s export capabilities through enterprise development and job creation.
\nDuring the meeting, the Planning Minister outlined a strategic approach to maximize the success of Special Economic Zones (SEZs) within Pakistan. He proposed a \u201cone plus Four\u201d model, wherein each SEZ in Pakistan would be partnered with one province from China, one industry group to develop specialized clusters within the SEZs, one SEZ from China to provide technical expertise, and a state-owned enterprise to spearhead SEZ development.
\nMinister Iqbal emphasized that this collaborative framework would expedite the establishment and growth of SEZs in Pakistan, enhancing their competitiveness and attractiveness to investors.
\nThe Chinese envoy appreciated Pakistan\u2019s efforts to implement the CPEC, particularly the initiation of phase 2. Addressing Pakistan\u2019s need to boost the efficiency of SEZs to increase foreign exchange, the Chinese envoy suggested that officers in charge of SEZs must visit Chinese industrial parks to observe firsthand the efficiency measures practiced by Chinese authorities. The Ambassador further highlighted Pakistan\u2019s commendable transition from an agricultural to an industrial economy.
\nProf. Ahsan Iqbal stressed that the success of SEZs depends on their ability to become clusters of specific industries, fostering economies of scale, and creating a vibrant ecosystem conducive to innovation and growth.
\nThe discussions also focused on enhancing regional connectivity, with a special emphasis on critical infrastructure projects like the Gwadar Port and the M-8 motorway, which will strengthen trade links and facilitate regional integration.
\nThe Planning Minister emphasized China\u2019s industrial progress as exemplary and a motivational force for Pakistan to follow suit.
\nThe minister appreciated Chinese assistance in helping Pakistan develop its exports. He stated that Pakistan\u2019s current challenge is to determine how quickly it can build its exports through earned foreign exchange, not borrowed money.
\nThe Minister assured the Ambassador that security is a prerequisite for development, and Pakistan acknowledges the full recognition of CPEC construction and security risks. However, these risks will not disrupt work on CPEC projects. Pakistan has made significant efforts to safeguard the security of Chinese workers and will further implement top-level security measures for Chinese personnel.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad: Pakistan and China on Friday intensified efforts to establish a Working Group on five new Economic Corridors under phase 2 of the CPEC, aligning with the 5Es framework already prepared by the Planning Ministry. This was discussed during a meeting between the Federal Minister of Planning, Development & Special Initiatives, Professor Ahsan Iqbal, and […]<\/p>\n","protected":false},"author":2,"featured_media":2146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,16],"tags":[142],"ppma_author":[95],"class_list":{"0":"post-2145","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest","8":"category-pakistan","9":"tag-top-stories-2"},"yoast_head":"\n