ISLAMABAD: Federal Minister for Planning, Development and Reform Prof Ahsan Iqbal said on Tuesday Pak-China Economic Corridor project would lift friendship to new heights as this project would have profound impact not only on Pakistan and China but entire region.
The Minister was talking to Chinese business delegation of Guangzhou Bureau of Foreign Trade & Economic Cooperation led by Cao Zhicong which called on here today.
Federal Minister welcoming the delegation said, “Pakistan and China enjoy time tested friendship.
Pak-China Economic Corridor project will lift friendship to new heights as this project will have profound impact not only on Pakistan and China but entire region.
Pakistan is a hub of business activities for South Asia, Central Asia and China. The corridor project will impact lives of three billion people in Asia”.
He said, “China-Pakistan economic corridor projects envisage $34 billion investment in energy sector and around $11 billion in infrastructure sector.
These projects offer immense opportunities to businesses in both countries and will give boost to Pakistan’s economy.
“All energy projects are investment mode by Chinese side and will give tremendous boost to investment climate in Pakistan.”
He said “Pakistan has been given GSP plus status by EU, which has opened new vistas of co-operation between Pakistan and China for joint production facilities.
A free trade zone is being established in Gawadar port,which offers very attractive prospects to Chinese investors. Gawadar port is being developed to become a leading port in the region.
Through Gawadar port, the cost of transportation for western China will be reduced by five times.
Ahsan Iqbal said, “People of Pakistan are eagerly looking forward to visit of Chinese president in near future.”
People of Pakistan appreciate the Chinese leadership for standing with Pakistan at a time when Pakistan is facing serious energy challenges, he said.
Pakistan, a market of nearly 200 million, is an important investment destination which offers very attractive opportunities for international investors, he added.