Pakistan wants to build JVs connected with Chinese global value chains, Chinese envoy pledges support
Talking to Chinese Ambassador Yao Jing, Federal Minister for Planning, Development and Special Initiatives, Asad Umar affirmed that in the upcoming weeks, work on CPEC projects would be fast-tracked. Minister told Chinese envoy that government is focussed on establishment and operationalization of SEZs, and its top-most concern is to enable SEZs for the launch of joint ventures (JVs) to kick start production and boost commercial activities. Asad Umar stressed on the need for Pakistani manufacturing units to be connected with Chinese global value chains. Reciprocating the greetings, Yao Jing assured that China is eager to deepen bilateral ties in commerce and industrial sectors. He also underscored the need to increase collaboration in agriculture sector.
ISLAMABAD, Jan 10 (APP):Minister for Planning, Development and Special Initiatives Asad Umar Friday said that the pace of projects under China Pakistan Economic Corridor (CPEC) would be accelerated in weeks and months to come.
He was talking to Ambassador of China to Pakistan Yao Jing here on Friday.
Matters relating to CPEC and economic cooperation between the two countries in general, came under discussion.
The Minister expressed his satisfaction at the progress of various projects under CPEC. He said that the establishment and operationalization of Special Economic Zones (SEZs) is currently the top priority. The SEZ would enable setting up of joint ventures in manufacturing which would integrate the enterprises from both sides.
Asad Umar emphasized that it was important for Pakistani manufacturing industries to become part of the global value chain by partnering with the Chinese companies.
The Ambassador assured the minister that the Chinese side was keen to promote such relationships between businesses and manufacturing industries.
Collaboration in the agriculture sector was also discussed. The minister said that massive potential exists in agriculture sector by modernizing and upgrading its various sub-sectors.
He underlined the need to expand collaboration in agriculture sector, which is extremely important for the Pakistani economy.
Yao Jing expressed the hope that bilateral partnership between the two countries would be taken to new heights in future.
The Ambassador appreciated the government of Pakistan’s efforts to expedite the work on CPEC projects.
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