CPEC Progress Appraisal

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The 6th Joint Working Group (JWG) held in Islamabad. Representatives of Pakistan Embassy Beijing and Chinese Embassy Islamabad were also present in the meeting along with other JWG members. Both sides reviewed the progress of CPEC Special Economic Zones (SEZs), particularly Rashakai, Allama Iqbal, Dhabeji and Bostan SEZs and expressed satisfaction over the achievements so far. Furthermore, both sides vowed to take forward the Framework Agreement in a pragmatic manner, which was signed during PM’s visit to China in Feb. Contrary to the previous JWG meetings, the 6th JWG witnessed active participation and presentations by the provincial NDRCs in China to strengthen business to business collaborations at the provincial levels between the two countries. Jiangsu, Zhejiang, Shandong and Guangdong provinces committed to encourage their enterprises to develop linkages with Pakistan’s provincial BOIs and invest therein. Provincial NDRCs vowed to collaborate with Pakistan’s provincial BOIs for joint efforts to bring in meaningful FDI and strike business to business (B2B) ventures. The Chinese side showed great interest in the mining sector of Pakistan. China Geological Survey and Metallurgical Corporation of China presented their possible proposals for collaboration in the mining sector of Pakistan. Pakistan Mineral Development Corporation (PMDC) also delivered a detailed presentation highlighting the potential of the sector and possible investment opportunities for Chinese investors. The Board of Investment also presented proposals of establishing a Special Economic Zone at government to government (G2G) basis and CPEC Tower in Islamabad. Pertinent to mention that CPEC has entered into its second phase and China has further planned to extend the CPEC to Afghanistan under the umbrella of BRI to enhance the economic connectivity.

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