BEIJING: Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar has said that China-Pakistan Economic Corridor (CPEC) is now entering into second phase with focus on industrial cooperation, trade, agriculture and socio-economic development.
He said that increase in trade, investment and financial flows would bring peace and prosperity to the region through enhanced competition reducing regional disparities and social inequality.
Minister for Planning expressed these views while addressing the thematic session on Connectivity of Policy of 2nd Belt & Road Forum for International Cooperation here on Thursday.
Ministers and dignitaries from various countries, Secretary Planning Zafar Hasan and Project Director Hassan Daud were also present in the session.
Khusro Bakhtiar said that currently 22 projects were undergoing fast implementation, higher in pace in comparison with any other corridor of the BRI initiative, making CPEC the central corridor of the initiative.
The Minister stated that President Xi Jinping’s Belt & Road Initiative reflects the far-sighted economic vision which is opening gateways of cooperation among the countries along the route.