Adviser to the Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood said that the second phase of the China-Pakistan Economic Corridor will now expedite the industrial collaboration, which would help attract private investments and diversify the country’s exports. The National Assembly Speaker, Asad Qaiser, has decided to form a parliamentary committee on CPEC, which will review the progress of the mega project. Pakistan will start exporting 300,000 metric tonnes (MT) of sugar to China from the month of June 2019. The Deputy Chief of Mission of the Chinese Embassy, Lijian Zhao has said that there was a consensus on the third parties inclusion in CPEC, where the third party can invest in socioeconomic development projects.
Please read below for additional details in this edition of China Watch [April 01 – 07] by CRSS.
CPEC to boost industrial collaboration: Dawood:
The Adviser to Prime Minister on Commerce and Textile, Abdur Razak Dawood said that now that the China-Pakistan Economic Corridor (CPEC) has reached its second phase, the focus would be to expedite industrial cooperation through the Special Economic Zones (SEZs). He made these remarks during the first meeting of the CPEC Business Council. Minister for Planning, Development and Reform, Makhdoom Khusro Bakhtiyar highlighted the importance of the council, saying that it’s an ideal link between the government and the business community. He also said that Pakistan has identified 20-25 giant companies for joint ventures with Chinese companies under CPEC.[i]
NA speaker forms panel on CPEC to oversee projects:
The National Assembly Speaker, Asad Qaiser, has decided to form a parliamentary committee on CPEC, which will review the progress of the mega project. The committee comprises of 14 National Assembly members and 7 senators. The committee will monitor the implementation of CPEC, and provide timely recommendations for the speedy progress of CPEC. The committee will also publish reports which will be presented in both houses of the parliament.[ii]
Pakistan to export 300,000 MT of sugar to China under Free Trade Agreement:
Under the Free Trade Agreement (FTA)-II between Pakistan and China, which is expected to be signed during Prime Minister Imran Khan’s visit to China for the Belt and Road Forum, Pakistan is expected to export more than 300,000 metric tons of sugar to China. With this rise in exports, Pakistan is expected to generate more than $110 million in revenue. It is also expected that Pakistan’s exports to China are expected to rise up to $3.2 billion by 2020, under the FTA-II.[iii]
Pak-India war will destroy entire South Asia: Chinese envoy:
Addressing a conference on CPEC, the Deputy Chief of Mission (DCM) of the Chinese Embassy, Lijian Zhao said that there was a consensus on the third parties inclusion in CPEC, where the third party can invest in socioeconomic development projects. Apprising the audience on the development of CPEC in Pakistan, the DCM said that the Multan-Sukkur Motorway will be inaugurated in July, ahead of schedule, and the second phase of CPEC is advancing rapidly. Finally, he said that the region cannot afford a war between Pakistan and India, as it will destroy the whole region.[iv]
This report is compiled and written by Syeda Uruba Nisar, Social Media Associate at the Centre for Research and Security Studies (CRSS), Islamabad.
[ii] NA speaker forms panel on CPEC to oversee projects. (2019, April 5). DAWN. Retrieved April 8, 2019, from https://www.dawn.com/news/1474021/na-speaker-forms-panel-on-cpec-to-oversee-projects
[iii] Pakistan to export 300,000 MT of sugar to China under Free Trade Agreement. (2019, April 3). Daily Pakistan. Retrieved April 8, 2019, from https://en.dailypakistan.com.pk/business/pakistan-to-export-300000-mt-of-sugar-to-china-under-free-trade-agreement/
[iv] Pak-India war will destroy entire South Asia: Chinese envoy. (2019, April 2). ARY News. Retrieved April 8, 2019, from https://arynews.tv/en/pak-india-war-destroy-south-asia-chinese-envoy/