Phase II of CPEC to be a catalyst for industrial and agricultural development

Professor Dr. Song Zhihui, senior researcher on Belt and Road Initiative talked about the vitality of China Pakistan Economic Corridor (CPEC) to the Industrial and agricultural sector of Pakistan. Moreover, he discussed the willingness of Chinese companies to expand their role in CPEC to shrink the trade deficit between China and Pakistan.

Islamabad: The 2nd phase of CPEC was very important for Pakistan as it would give boost to industrial cooperation and establish many Special Economic Zones in Pakistan creating new opportunities for entrepreneurs of both countries to set up JVs and investment in areas of interest.This was said by Prof.

Dr. Song Zhihui, Senior Researcher on One Belt One Road project and Deputy Dean of International Studies, Sichuan University while addressing business community at Islamabad Chamber of Commerce & Industry.

He was accompanied by Kashif M. Khan, Managing Director, Global Entrepreneurship Network, and Pakistan.Prof. Dr. Song Zhihui said that the first phase of CPEC focused on energy and infrastructure development in Pakistan while the 2nd phase would focus on industrial cooperation that would yield beneficial results for the economy of Pakistan.

He said that many companies of China were interested to invest in Pakistan and set up factories here as Pakistan was a best place for them. He said he wanted to organize a tourism promotion conference for Pakistan to highlight its tourism potential.

He said China wanted to enhance its imports from Pakistan that would increase Pakistan’s exports. He said ICCI should cooperate in connecting right partners with Chinese counterparts in SEZs and in other sectors.