ISLAMABAD: Pakistan and China have decided to expedite the phase two of CPEC projects and establish a Working Group on five new Economic Corridors under this phase.

The understanding to this effect was reached during a meeting between Minister for Planning and Development Ahsan Iqbal and Chinese Ambassador to Pakistan Jiang Zaidong here Friday (22nd March, 2024).

The five new corridors include the Corridors of Job Creation, Innovation, Green Energy, and Inclusive Regional Development.

The corridors align with the Planning Ministry’s 5Es framework which envisages E-Pakistan, Environment, Energy and Equity and Empowerment.

The synching of 5Es framework with the five new corridors will advance Pakistan’s prosperity in each sector as per the vision of Prime Minister Shehbaz Sharif.

The Planning Ministry and National Development and Reform Commission of China will prepare separate concept papers on the new economic corridors providing a clear roadmap for each sector.

Speaking on the occasion, the Planning Minister outlined a strategic approach to maximize the success of Special Economic Zones in Pakistan through partnerships between the Chinese and Pakistani SEZs.

He appreciated Chinese assistance to Pakistan in enhancing its exports.

The Minister assured the Ambassador that security is a prerequisite for development and Pakistan has made significant efforts to safeguard Chinese workers and will further implement top-level security measures in this regard.

The Chinese Ambassador appreciated Pakistan’s efforts to implement the CPEC.

He suggested that officers in charge of Special Economic Zones in Pakistan must visit Chinese industrial parks to learn from the efficiency measures practiced by Chinese authorities.

The discussions also focused on enhancing regional connectivity with emphasis on projects like Gwadar Port and M-8 Motorway to strengthen trade links.

Newspakistan.tv