CPEC would create many opportunities for FDI in Pakistan: Chinese Consul General

LAHORE: Speakers at a conference on “Significance of the Belt and Road Initiative in Regional Connectivity” were of the view that the initiative would bring about prosperity and stability in the region by improving the economic conditions of most countries of the world.

A three-day international conference was organised by the Punjab University Regional Integration Centre (RIC) in collaboration with the Chinese Embassy at Al-Raazi Hall on Wednesday.

Addressing the inaugural session, Consul General Zhao Shiren said the project is purely economic to improve the conditions of most of the countries.

He said the initiative would bring about prosperity and stability to the countries of the region and China-Pakistan Economic Corridor (CPEC) would create excellent opportunities for foreign direct investment in Pakistan.

He said there was a need to do away with propaganda about CPEC and create a national consensus.

Sarmad Ali said the people of the regional countries could be connected through media and the media should play its role in eliminating propaganda against the BRI.

Punjab Higher Education Commission (PHEC) Chairman Dr Shahid Munir said CPEC is the biggest project for economic and social development of Pakistan which should be accompanied by the Knowledge Technology Transfer Corridor.

He said China could set up industries due to cheap labour in Pakistan and it could reduce transportation and production cost.

He said the introduction of a common currency would strengthen the countries of the Belt and Road Initiative economically. “Pakistan is rich in natural resources and coal reserves alone are valued at $30 trillion. He said China could help Pakistan utilise these natural resources and sell them to the world.

Rear Admiral Shafaat Ali Khan said the West used the sea for its expansion and occupied the world while China used it to promote economic and social relations. “We need to strengthen our narrative to counter propaganda against us,” he said.

Prof Mehmet Seyfettin Trol said the initiative could boost ties among Central Asia, the Middle East, Europe and other countries. He said Turkey would always stand by Pakistan and would never isolate it.

Presenting a model of regional cooperation, Hassan Daud Butt said Pakistan could not miss this initiative. He said now Asian countries were in a position to make economic decisions in the world. He said Pakistan needed to improve its human resource capabilities. “Now there is a need to promote glocalisation,” he said.

PU former VC Dr Saleem Mazhar said besides economic corridors, language, literature and cultural corridors should also be established so that the nations of the region could interact with each other.

He said the universities could play an important role in creating peace, love and harmony.