China hails development of Rashakai SEZ

China said on Wednesday that the development of Rashakai Special Economic Zone (SEZ) would boost high quality development of the China-Pakistan Economic Corridor (CPEC) and inject a new momentum into Pakistan’s economic development.

Chinese foreign ministry’s spokesperson told a regular briefing in Beijing that all sides attached great importance to the Rashakai project. “It will surely boost high quality development of the CPEC and inject new momentum into Pakistan’s economic development,” spokesperson Wang Wenbin said.

On Monday, Prime Minister Imran Khan and Chinese Ambassador Yao Jing witnessed the signing ceremony of the 'Development Agreement of Rashakai Special Zone', while Deputy Director of the Chair of Chinese side of the Joint Cooperation Committee (JCC) of CPEC, Ning Jizhe attended via video link.

Spokesperson Wang Wenbin said that the signing of the agreement meant that the project had reached a substantial development stage. “It will play an important and exemplary role for industrial cooperation between the two sides,” he added.

The Rashakai SEZ is one of the nine SEZs, prioritised under the CPEC framework. “This is the first agreement signed between the two sides under the CPEC. All sides attach great importance to this project,” Wang said in a response to question from APP.

According to the China Road and Bridge Corporation (CRBC), the developer of the SEZ, the leading industries of Rashakai SEZ, would comprise plants for processing of farm produce, automobile, home appliances, textile, consumer electronics, construction materials and logistics.