China a reliable partner in our development efforts, says Sartaj Aziz

F.P. Report

Islamabad: “Relations between Pakistan and China have become a model of State to State relations and China has become a reliable partner in our national development efforts” said Mr. Sartaj Aziz Deputy Chairman Planning Commission while addressing to the 60 member Chinese business delegation currently visiting Pakistan.

Mr. Sartaj Aziz welcomed the Chinese delegation and said that Pakistan is an ideal destination for Chinese investors due to the good will for Chinese and potential of investments in the China Pakistan Economic Corridor, which has changed the economic outlook of Pakistan, this is also being acknowledged globally.

Deputy Chairman Planning commission said that Pakistan’s macroeconomic indicators continue to improve and solidify grounds for a sustained upward growth trajectory because key constraints impeding the economy from achieving high growth such as power supply and security situation have improved. Real GDP growth increased last year to a decade high of 5.3%. Supportive policies like historic low interest rate, high infrastructure spending and better law and order has encouraged a number of firms to pursue expansion plans. He said that the government has announced an incentive package for exporters and this will provide opportunity to private sectors including foreign investors to fully benefit from these conditions by modernizing their business processes, investing in research and development, improving human capital, seeking international certifications, and meeting quality standards.

Mr. Aziz said that CPEC is most important pillar of One Belt One Road initiative and both the countries have agreed to build roads, railways, and oil and gas pipelines under this project. He said that nine Special Economic Zones to be built under CPEC which will be open for all investors across the world to come and invest in their fields of interest. He further said that Chinese technical standards are widely accepted and if those are adopted in sectors like agriculture and livestock, minerals, textile, sports and surgical goods then these could become important export items for China and rest of the world.

Deputy Chairman said that government of Pakistan will ensure seamless security for the Chinese friends. In this regard, a special security division has been raised and same arrangement will be made for investors as well.