CPEC provided new opportunities for Pak-China economic ties: Ambassador Yao Jing

Arif Qureshi

Islamabad: Mr. Yao Jing, the Chinese Ambassador to Pakistan said that after 6 years successful implementation of CPEC project under the umbrella of Belt and Road Initiative (BRI), it is now established that CPEC and other corridors under BRI are projects of international cooperation, where 126 countries joined these projects.  He said BRI provided credible and tangible benefits to the beneficiary’s countries and CPEC is one of the successful examples.

Chinese envoy expressed these views during a special Seminar titled “Six Years of Belt and Road Initiative (BRI) and China Pakistan Economic Corridor (CPEC)” hosted by the Sustainable Development Policy Institute (SDPI) in collaboration with Islamabad Stock Exchange (ISE) here at Islamabad on Thursday.

“I am looking CPEC in the context of historic China and Pakistan relations, where CPEC provided new focus and new opportunities on economic front”, said Yao adding that CPEC under more clear and consistent policies coupled with set direction will help Pakistan in the long term. On Coronavirus epidemic, Yao said that this catastrophe would not stop the economic cooperation between China and Pakistan, and we are thankful to the Pakistani government and people for showing solidarity in our difficult time which provide us strength and more confidence.

Speaker National Assembly of Pakistan, Asad Qaiser said that China Pakistan Economic Corridor (CPEC) is a backbone of our economy amid critical economic challenges of the country. Terming CPEC a fortune change of the country, Asad Qaiser said through knowledge sharing and technology transfer, we are hopeful that Pakistan would soon get out of the current economic quagmire. On Coronavirus outbreak in China, Asad said that through all thick and thin China always help Pakistan and in this catastrophe of Coronavirus, despites concerns, the government and people of Pakistan will be standing with China and will provide all out support in their difficult times.

Executive Director, SDPI, Dr Abid Qaiyum Suleri said that six years back when CPEC started, In Pakistan, the power system was crippled, as there was regular pattern of 2 hours power outage and now one can see the difference only due to CPEC investment in energy sector. He said there are some myths that are associated with CPEC such as China’s CPEC model is new colonialism and Pakistan will be full of Chinese workers and dominance, another myth is that Pakistan would fall in debt trap Gwadar is a strategic project and not a commercial project.

Shakeel Ahmed Ramay, Head China Study Center, SDPI said BRI is really helping counter extreme poverty, particularly in developing countries, through the provision of employment opportunities and boosting exports.  President, Islamabad Stock Exchange (ISE), Zahid Latif Khan said that CPEC is the most successfully implemented project under BRI. The governments of China and Pakistan are expanding its scope in global value chain, social sector development, and blue economy.

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