CPEC a strategic project with economic, logistics, connectivity value: President Alvi

President Dr Arif Alvi on Friday said that the China Pakistan Economic Corridor (CPEC) is a strategic project with immense economic, financial, logistical and connectivity value for Pakistan and China as well as regional countries.

In a meeting with the Chinese Ambassador to Pakistan, Nong Rong, at Aiwan-e-Sadr, the president stated that Pakistan would welcome other countries to partner and benefit from this project.

President Alvi said that full operationalisation of CPEC and the planned Special Economic Zones (SEZs) was an important milestone and urged the Chinese IT sector to invest in SEZs and benefit from Pakistan’s cost-effective human resources and tax incentives.

He underlined that Pakistan had taken tangible steps to ensure the safety and security of Chinese workers, and nationals. He noted that China has a role of great importance in the region. “Close cooperation between the two countries in marketing JF-17 aircraft to the global market will help in expediting the export of the fighter aircrafts,” said the Pakistani head of state.

Alvi further said that both countries should explore options to use local currency for bilateral trade and investment. “This will not only reduce the cost but also increase the volume and quality of the trade and investment between the two countries,” he said.