This country's eyeing to become key partner of CPEC

Published: April 6, 2017

ISLAMABAD: The United Kingdom has expressed its desire to become a key partner in the multibillion-dollar China-Pakistan Economic Corridor (CPEC).

“Britain is a country of global influence and can be an important partner for China and Pakistan in the delivery of the China-Pakistan Economic Corridor which has the potential to build closer links between our countries,” said UK Minister of State for International Trade Greg Hands during a business roundtable on the UK participation in the CPEC on Wednesday.

“We have a clear ambition to increase trade with both China and Pakistan and UK businesses are well placed to capitalise on the new opportunities in the region,” he added.

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Speaking on the occasion, organised by the Department of International Trade at Foreign and Commonwealth Office (FCO) London, Pakistan High Commissioner Syed Ibne Abbas said excellent ties between Pakistan and China are time tested and exemplary in state relations.

“On CPEC $54 billion investment in four areas namely infrastructure, energy, Special Economic Zones and Gwadar port would give necessary impetus to Pakistan’s economy, thus creating enormous opportunities for the global corporate enterprises,” he added.

Abbas also highlighted the successes which Pakistan has achieved in the economic front in the recent past which include 5.2% economic growth rate, achievement of “emerging market” status by international credit rating agencies, declaration of Pakistan Stock Exchange as one amongst the five best performing stock exchanges of the world.

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He invited British investors and businesses to explore Pakistan for the business opportunities on account of its strategic location, resilient economy and growing consumer market.

Chinese Ambassador to UK Liu Xiaoming said relations between Pakistan and China are mutually beneficial.

He went on to say that Pakistan’s geographic position, demographic dividend and economic potential would continue to give the CPEC a great advantage.

The China’s One Belt One Road initiative is open to all and so far more than 100 countries and International organisations have expressed support for this initiative, he added.

The session came ahead of a larger CPEC conference in May which will be hosted by the UK government and Royal United Services Institute (RUSI) to show how the Britain’s world-leading expertise in areas such as financial and professional services, and energy and infrastructure can support China and Pakistan’s economic vision.

Other participants in the roundtable include experts from City UK, RUSI and the China Britain Business Council. HSBC, Deloitte and Standard Chartered also discussed how they and other British firms could support the delivery of CPEC.

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Reader Comments (5)

  • yamuri
    Apr 6, 2017 - 1:43AM

    The UK or any Western country cant be trusted. They will as usual manage to buy loyalties of the corrupt Pakistani politicians and ultimately leave the.project in.pieces once they have sucked the money out of it.Recommend

  • BrainBro
    Apr 6, 2017 - 6:51AM

    This is a good development, but in the end of the day, actual UK-based businesses need to setup their shops in Karachi, Lahore and Islambad. Just mere statements, and memorandum of understandings, will not bear any fruit.
    More western companies need to join in to provide intellectual-legitimacy to the project.Recommend

  • Gemini
    Apr 6, 2017 - 12:25PM

    @yamuri: That was past when mughal rulers were made fool, Now there are media sources, paper work, world bank guarantee’s and much more to make your deal safe enough. Don’t live in fools paradise modern economy works like this. Japan, USA, Germany, China are not having good relations diplomatically but economically they all are depended.Recommend

  • nakhtar
    Apr 6, 2017 - 2:28PM

    The importance of CPEC cannot be ignored due to its large access point and geographical significance. Lot many countries are becoming interested due to their own interest. Pakistan has to be very composed at this juncture in time. Lots of vultures will definitely come to put their finger in this project. We should be very vigilant in shaking hand with these countries and should know that this opportunity is due to our friend country China. Country like UK has never been a friend of Pakistan and we all know what they have been doing with Pakistan, by hibernating the terrorist in their own country and to destabilize Pakistan with every possible opportunity. I am not saying I am against it but we need to be careful while negotiating with them. However, I suggest that a panel of experts and technocrats from China and Pakistan should be made to negotiate these kind of inclusion. Recommend

  • Asif
    Apr 6, 2017 - 2:54PM

    What intellectual legitimacy? Road building has been around for 1000 yearsRecommend

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