CPEC has transformed Pak China bilateral relations: Ahsan Iqbal
Chitral Times Report
Islamabad: Federal Minister for Planning, Development and
Reform Prof. Ahsan Iqbal said that China Pakistan Economic Corridor
has transformed Pak-China bilateral relations from strategic nature
to economic cooperation. China has emerged as a top country in
respect of Foreign Direct Investment (FDI) in Pakistan.
The Minister expressed these views on Saturday at Planning
Commission during a meeting with Professor Justin Yifu Lin,
Councilor of State Council and Vice Chairman of All-China
Federation of Industries & Commerce and former Senior Vice
President and Chief Economist of the World Bank.
The meeting was also attended by senior officials from Ministry of
Planning, Development and Reform.
He said that CPEC project has now gained significance not only for
Pakistan but also for the entire world. “CPEC has introduced a new
perception of Pakistan and relations of both the countries have
moved forward from geo strategic to economic partnership”.
The Minister said that China’s FDI was 13 percent of the total
foreign investment in 2013, far behind other countries. “But now
after CPEC, China has emerged as the top country in respect of FDI
in Pakistan” added Ahsan Iqbal.
Ahsan Iqbal said that Europe and USA remained world leaders in
economy for centuries after the downfall of Asia. “But now after
CPEC, Asia is regaining its historic role as a leader in
industries, trade and economy” said the Minister.
The Minister reiterated that Pakistan wants to further enhance
bilateral relations and cooperation with China in diverse areas
including trade, investment, education, communication and health.
He also said that the cooperation under CPEC has paved way for a
significant change in different sectors, proving a project of
sustainable growth and prosperity for the both neighbors. “It has
scaled up Pakistan’s growth rate from 2.5 to 4.8 just in 3 years”
remarked Minister Ahsan Iqbal.
Federal Minister said China has developed its industry,
agriculture, health and education on modern lines adding that on
Pakistan’s side, serious efforts are needed to ensure transfer of
knowledge and technology. Ahsan Iqbal hoped that Professor Justin
Yifu can play a very crucial role in linking opportunities on both
Professor Justin Yifu Lin on this occasion said China considers
Pakistan’s development as its own development.
He said promotion of industrial and trade relations between two
countries will help develop a conducive environment for trade in
the region. He said that the industrial cooperation between both
the countries will help Pakistan to emerge as a new center of trade
and industrial production that will enhance export and reduce trade
deficit of Pakistan.
During the meeting Chief Economist, Dr. Nadeem Javid briefed the
participants on State of the Economy of Pakistan, Vision 2025,
growth strategy and challenges
Prof. Lin is Director of New Structural Economics, Dean of
Institute of South-South Cooperation and Development, and Honorary
Dean of the National School of Development at Peking University. He
is also Councilor of State Council and Vice Chairman of All-China
Federation of Industries and Commerce. He has also served as the
Senior Vice President and Chief Economist of the World Bank
Prior to joining the Bank, Mr. Lin served for 15 years as Founding
Director and Professor of the China Centre for Economic Research (CCER)
at Peking University and is the author of 24 books including;
Against the Consensus: Reflections on the Great Recession, The
Quest for Prosperity: How Developing Economies Can Take Off, New
Structural Economics: A Framework for Rethinking Development and
Policy, Demystifying the Chinese Economy, Benti and Changwu:
Dialogues on Methodology in Economics, Economic Development and
Transition: Thought, Strategy, and Viability.
Mr. Lin is visiting Pakistan on the invitation of the Minister
Ahsan Iqbal. He will visit Lahore and Karachi where he will deliver
lecture and interact with think tanks, business schools, academia
and business community.