Islamabad: In a strategic move to bolster economic ties with China, the Pakistani government conducted a high-level review of China-Pakistan Economic Corridor (CPEC) projects on October 2, 2024. The meeting, chaired by Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, comes just weeks before the mid-October Shanghai Cooperation Organization (SCO) Summit, underscoring the urgency and significance of these discussions.
According to Press Information Department, the session convened key government secretaries and additional secretaries from all relevant ministries to synergize efforts and prepare for the Chinese Premier’s upcoming visit. The meeting focused on reviewing the progress of ongoing CPEC projects and devising a comprehensive action plan to enhance bilateral economic and developmental collaborations.
Minister Iqbal emphasized the crucial role of multi-sectoral collaboration within the government to fully leverage the potential of CPEC initiatives. He highlighted the importance of the forthcoming SCO summit as a pivotal moment for Pakistan to present itself as a prime destination for business-to-business (B2B) investments and to secure tangible outcomes that will drive forward the nation’s economic agenda.
The discussions also touched on key priority sectors such as infrastructure, road connectivity, IT, agriculture, industrial cooperation, and more, aiming to advance concrete progress in these areas during the high-level engagements. Minister Iqbal reaffirmed Pakistan’s commitment to deepening ties with China through CPEC, a partnership that has notably helped stabilize Pakistan’s economy since its inception in 2013.
The government’s proactive approach towards attracting foreign investment and integrating into global value chains was also discussed, with Minister Iqbal stressing these efforts as vital to Pakistan’s long-term economic growth and sustainability.
With the SCO Summit approaching, Pakistan is poised to showcase its readiness for significant economic ventures and its strategic position in regional connectivity and cooperation initiatives.