Pakistan, China to fast-track industrial cooperation

Chinese experience to ensure speedy development of SEZs

ISLAMABAD: Pakistan and China have agreed to fast-track industrial cooperation between the two sides under the China-Pakistan Economic Corridor (CPEC).

During a meeting between delegations of the National Development and Reforms Commission (NDRC) and the Board of Investment (BOI), it was noted that Chinese experience would help ensure speedy development of the Special Economic Zones (SEZs) in Pakistan.

Chairing the meeting, BOI Secretary Omer Rasul briefed NDRC members on the steps being taken by Pakistan to ensure deep industrial cooperation between the two countries.

"Following the completion of first phase of CPEC, projects in energy and road infrastructure sectors have commenced," he said. "In the second phase, we are set to kick off industrial cooperation as envisioned."



He revealed that the groundbreaking of Rashakai SEZ in Khyber-Pakhtunkhwa was planned for next month. "Two more SEZs - Dhabeji SEZ in Sindh and Allama Iqbal Industrial City (M3) in Faisalabad - will follow a similar pattern of development."

The government had alerted all the line ministries and sufficient funds had been allocated for the provision of utilities to the SEZs, he said.

Rasul underscored the need for establishing a government-to-government (G2G) framework in an effort to give a firm push to industrial cooperation.

Appreciating Pakistan's efforts, the NDRC delegation informed the BOI secretary that Chinese investors were willing to invest in the development of SEZs under CPEC.



Gao Jian, who jointly chaired the meeting, declared industrial cooperation as the main focus of CPEC. "This will help Pakistan develop its industrial cluster according to its potential," he said

The Chinese side offered to train and equip Pakistan's small and medium enterprises (SMEs) in order to turn them technologically sound and globally competitive.

Both sides also discussed the agenda for a meeting of the Joint Working Group on industrial cooperation and the forthcoming Joint Cooperation Committee (JCC) huddle, which was expected to be held in October or November this year.