2nd phase of CPEC to focus on industrial cooperation: BoI chief

Author:

The second phase of China-Pakistan Economic Corridor (CPEC) will focus on industrial cooperation to explore business opportunities in textile, industry, agriculture, science and technology, tourism and other areas.

This was decided in a meeting of Chairman Board of Investment (BOI) Atif R Bokhari with Ambassador of China to Pakistan Yao Jing here on Tuesday.

Chinese Ambassador Yao Jing called on the chairman BOI here at Board of Investment. The meeting was also attended by Secretary BOI and Project Director PMU of BOI on CPEC Industrial Cooperation, Asim Ayub.

During the meeting, it was accentuated that 2nd phase of CPEC would focus on industrial cooperation involving investors to explore business opportunities in different areas. It was also discussed that G2G cooperation would extend to B2B cooperation.

The chairman BOI underscored that the challenges posed by the coronavirus pandemic have provided Pakistan and China an opportunity to delve deeper into strategizing for better implementation and cooperation. He said the CPEC has played an important role in the development agenda of the present government in Pakistan. He said during the high-level exchanges between the leaders of Pakistan and China, the two sides agreed that the focus of the second phase of the CPEC was to complete all projects under construction in a timely manner and continue to realize their full potential for socio-economic development, job creation, improvement of people’s livelihood, accelerated industrial development, industrial parks and cooperation in the agricultural fields.

“We are confident that all projects in the CPEC will be completed in a timely manner to achieve the desired goals and set a new example for international cooperation based on common interests, common goals and common future,” he said.

Asim Ayub informed the meeting that first draft of Framework agreement on Industrial cooperation will be shared with NDRC by end of May after due consultations with the stakeholders.

The meeting developed consensus to hold Joint Working Group on IC in 2nd week of June 2020.