LAHORE: Pakistan-China Joint Chambers of Commerce and Industry President Moazzam Ghurki said on Monday that China-Pakistan Economic Corridor (CPEC) initiative was important for Pakistan as it would lead to accelerated economic growth of the country and boost regional security.
Chairing a meeting at the PCJCCI Secretariat, Ghurki declared CPEC as a model of partnership, collaboration, connectivity and shared prosperity bringing high levels of industrial and agriculture cooperation.
He talked about the importance of SEZs in enhancing B2B collaboration while the government was ensuring a smooth transition towards CPEC’s second phase, which will lead to the socioeconomic development of marginalized areas.
Ghurki that according to the World Bank’s Global Economic Prospects report, the world economy probably shrank by 4.3% in 2020 due to Covid-19 and the financial crisis. The challenges for Pakistan are many as the country is struggling to eliminate poverty and bring economic development in the time of a hike in the inflation rate.
CPEC a Principal Tool for Development
He further said that the CPEC is now the principal tool for the pursuit of bilateral relations at renewed and heightened ebb of engagement.
Fang Yulong, PCJCCI Senior Vice President, said that China’s next transformation is successfully underway and a “New Economy” is emerging, and it is ready to make a global impact through innovations and economic policies leveraging its demographic and financial diversity.
In order to accrue the benefits of this transformation, Team CPEC will mobilize all resources for accomplishing the difficult task of timely implementation of CPEC projects in Pakistan, which would result in further inclusive growth.
Vice President PCJCCI Hamza Khalid emphasized that in the second phase of CPEC, the government is working to develop marginalized areas of the country and promising greater regional integration.
