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CPEC faces new opportunities to boost industrial cooperation: Global Times

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BEIJING, Jun 1 (APP): Since being officially launched in 2015, the China-Pakistan Economic Corridor (CPEC), the Belt and Road Initiative’s (BRI) flagship project, has begun to bear fruit.

As construction of the CPEC project has come into the new stage of promoting industry and industrial park cooperation, Pakistan is facing new opportunities to fast-track the development of its industries which can help it compete globally, according to an article published by Global Times on Tuesday.

Industry cooperation has come along slower, relative to other aspects in overall CPEC cooperation in recent years. At the early stage of the project, there were issues including energy supply shortage, infrastructure deficiency and inefficient implementation of the incentive policies.

At that time, some in Pakistan lacked a clear understanding of the direction of industrial development, despite seeing the value building on the country’s core competitiveness.

Since the 1970s, Pakistan has started the process to promote economic liberalization and the economy’s opening-up. Joining the BRI and CPEC cooperation is part of the country’s efforts in accelerating its opening-up process.

In these couple of years, the country focused on industrial park construction while try to undertake industrial relocation from China.

Now, Pakistan has largely surpassed India in many aspects when it comes to economic opening-up.

Since the COVID-19 outbreak, the significance of the construction of the CPEC has become a key highlight for the country’s economic development. The construction of the CPEC will play a supporting role in Pakistan’s economic recovery in the post-pandemic era. Pakistan should seize the opportunity to formulate scientific development plans to advance domestic industries with competitive advantages.

Speaking of China-Pakistan industrial cooperation, agriculture is the sector that could help Pakistan consolidate its industrial advantages and industrial chain, and help the country quickly gain foreign exchange earnings through exports. At the same time, China should open its market to Pakistani agricultural products and fruits, and expand imports of Pakistani agricultural and industrial products.

The textile industry is a traditionally strong industry in Pakistan. When China’s textile industry is shifting outward due to labor price rises, Pakistan should seize the opportunity to use the advantages accumulated by China’s textile industry to upgrade its own industry and accept orders from aboard. In addition, the Indian textile industry has largely come to standstill due to the latest resurgence of the pandemic, and a large number of global orders have been transferred to other markets, including China.

Pakistan should seize the opportunity of global value chain and industrial chain restructuring to develop its emerging industries.

For example, since 2020, affected by India’s increasingly hostile attitude towards Chinese companies, many Chinese mobile phone brands in India have begun to move their factories to countries like Vietnam, the Philippines, and Indonesia. This is also an opportunity for Pakistan.

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DPM in Beijing on official visit to China

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Deputy Prime Minister Ishaq Dar arrived in Beijing today on a one-day official visit to China.

Upon arrival at the airport, he was received by Ambassador Yue Xiaoyong and Pakistan’s envoy to China Khalil Hashmi.

Later, Chinese Foreign Minister Wang Yi received Ishaq Dar at the Diaoytai State Guest House for their bilateral meeting.

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Pakistan, KSA, Turkiye & Egypt discuss ways to end war in region

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Pakistan, Saudi Arabia, Turkiye and Egypt have discussed the possible ways to bring an early and permanent end to the war in the region.

This was stated by Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar in his televised statement after the conclusion of the quadrilateral meeting of the Foreign Ministers of Pakistan, Saudi Arabia, Turkiye and Egypt, held in Islamabad today.

The Deputy Prime Minister said the Foreign Ministers expressed concern that the ongoing conflict is extremely unfortunate for its devastating impact on lives and livelihoods across the wider region.

He said they agreed that this war is not in favour of anyone and would only lead to death and destruction. The unity of Muslim Ummah in these challenging times is of utmost importance.

Ishaq Dar said the Foreign Ministers reaffirmed unity to contain the situation, reduce the risk of military escalation and create conditions for structured negotiations between relevant parties. He said the Foreign Ministers held a very detailed and in-depth discussion on the current regional situation.

The Deputy Prime Minister briefed the visiting Foreign Ministers on the prospects of potential US-Iran talks in Islamabad. The visiting Foreign Ministers expressed their full support to the initiative.

He said the Foreign Ministers advocated dialogue and diplomacy as the only viable pathway to prevent conflicts and to promote regional peace and harmony.

Ishaq Dar said the Foreign Ministers called for upholding principles of the UN Charter, including respect for sovereignty and territorial integrity of all states.

The Deputy Prime Minister said the Foreign Ministers also discussed ways and means to further strengthen mutual cooperation among the four brotherly countries. In this regard, we decided to constitute a Committee of four senior officials from the respective Ministries of Foreign Affairs to work out the modalities through mutual understanding and consensus.

The Deputy Prime Minister and Foreign Minister expressed his profound gratitude to the Foreign Ministers of Saudi Arabia, Turkiye and Egypt, for their support to Pakistan’s efforts for peace in the region.

He said, under the leadership of the Prime Minister Shehbaz Sharif, Pakistan has maintained regular engagement with its regional and international partners. Pakistan has remained actively involved in all efforts and initiatives aimed at bringing this conflict to an end.

The Deputy Prime Minister said Pakistan also has a very important relationship with the United States. He said Pakistan remained actively engaged with the US leadership as well, as part of our efforts to de-escalate the situation and finding a peaceful resolution of the conflict. In this context, the Deputy Prime Minister said Pakistan is very happy that both Iran and the US have expressed their confidence in Pakistan to facilitate the talks.

The Deputy Prime Minister said Pakistan will be honoured to host and facilitate meaningful talks between the two sides in coming days, for a comprehensive and lasting settlement of the ongoing conflict.

Ishaq Dar said he had a detailed telephonic conversation with Chinese Foreign Minister Wang Yi and China fully supports Pakistan’s initiative to host Iran-US talks.

He also mentioned his telephonic conversation with the Secretary General of the United Nations Antonio Guterres saying that the UN Secretary General has expressed his full support for the peace initiative by Pakistan.

Ishaq Dar said his counterparts from different countries around the world have all extended their full support and confidence in our efforts. He said Pakistan will continue its efforts with sincerity and commitment.

Ishaq Dar said Pakistan will require prayers and support of the entire international community for the success of its endeavours to achieve peace and bring a permanent end to this war.

Source:- Radio Pakistan

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Speaker of Russian Federal Assembly to arrive in Islamabad today

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Speaker of the Federation Council of the Federal Assembly of the Russian Federation Valentina Matvienko will arrive in Islamabad for three day official visit today.

This visit is expected to mark a pivotal moment in the growing diplomatic and parliamentary ties between the two nations.

During her stay, Valentina Matvienko is scheduled to meet with President Asif Ali Zardari and Prime Minister Shehbaz Sharif besides addressing a special session of the Senate tomorrow.

This visit, featuring significant discussions and strategic engagements, underscores the commitment of both nations to fostering stronger relations.

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