ISLAMABAD, Oct 14 (APP): Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Wednesday urged Chinese investors to establish manufacturing facilities in Pakistan and use the country as a regional production and export hub, as the second phase of the China-Pakistan Economic Corridor (CPEC 2.0) focused on industrial development, export growth and private-sector investment.
The minister was speaking during a meeting with a business delegation from Xinjiang, China, led by Yuan Jianmin, Senior Advisor to the Xinjiang Government, a news release said.
Highlighting the historic Pakistan-China partnership, Ahsan Iqbal said Xinjiang held a special place in bilateral relations, with the shared border, people-to-people contacts and the Karakoram Highway serving as enduring symbols of friendship and connectivity.
He stressed the need to remove barriers to trade and strengthen business-to-business linkages to make CPEC 2.0 more successful than its first phase.
Recalling the corridor’s achievements, the minister said an agreement signed in July 2013 had translated into more than $25 billion in investment within five years.
Chinese investment in power generation had added around 8,000 megawatts to Pakistan’s capacity, helping the country overcome severe energy shortages and supporting its economic transformation.
He said CPEC 2.0 would prioritize industrial cooperation, greater participation of Pakistan’s private sector, mining and minerals, information technology, advanced technologies and educational exchanges.
Emphasizing the importance of export-led growth, Ahsan Iqbal said an additional $7 billion in exports over the next three years could help strengthen the economy, generate employment and reduce reliance on external financial assistance.
He urged Chinese companies to invest in export-oriented manufacturing in Pakistan, saying deeper industrial cooperation would enable the country to move towards higher-value production, expand its export base and create employment opportunities while serving regional and international markets.
Yuan Jianmin appreciated Ahsan Iqbal’s longstanding contribution to Pakistan-China economic cooperation, describing him as the “torch bearer of CPEC” in recognition of his pivotal role in advancing the flagship project.
Recalling their first meeting in May 2013, he acknowledged the minister’s trust, encouragement and consistent support for CPEC and bilateral cooperation.
Yuan Jianmin highlighted opportunities to expand cross-border trade through the Khunjerab Pass, establish a China-Pakistan border trade market and increase Pakistani exports to China.
He also identified investment opportunities for Chinese companies in manufacturing, new energy, artificial intelligence and advanced technologies, expressing confidence that CPEC 2.0 would deliver substantial results under the leadership of both countries.
The meeting reaffirmed the shared commitment to translating the longstanding Pakistan-China friendship into stronger commercial partnerships, expanded trade and mutually beneficial investment.
Source: APP (Associated Press of Pakistan)
