Next phase of CPEC to focus on socioeconomic uplift

Next phase of CPEC would focus on socioeconomic uplift: PM Imran Khan

F.P. Report

BEIJING: Prime Minister Imran Khan has said that next phase of multibillion China-Pakistan Economic Corridor (CPEC) would focus on socioeconomic uplift and poverty alleviation.

PM Imran Khan said this at the second Belt and Road Forum in Beijing on Friday. In his speech, PM Khan said that Pakistan and China friendship are invincible and adding that the both countries are now entering in the next phase of CPEC which would focus on lifting people out of poverty.

He said “We are expanding the frontiers of knowledge through deeper cooperation in the fields of education, innovation and technology. [Under] CPEC, special economic zones will be set up”.

Joint efforts were needed to mitigate the adverse impact of climate change, establish Belt and Road Initiative tourism corridors to promote people-to-people and intercultural understanding, anti-corruption efforts, poverty alleviation fund and concerted efforts to further liberalize trade and investment, PM added.

Premier Khan said the Belt and Road Initiative offers a model of collaboration, partnership, connectivity and shared prosperity, and called for joint efforts towards addressing obstacles on the way to sustainable growth.

Pakistan is amongst Belt and Road Initiative’s earliest and most enthusiastic proponents, the premier said, adding that the CPEC project has addressed Pakistan’s energy and infrastructure gaps.

Prime Minister Imran said both the countries are signing the second phase of Free Trade Agreement to further bolster bilateral trade and economic relations.

He thanked China and its leadership for extending unwavering support to Pakistan, and said relations between the two countries remain strong and stand tall in the face of any challenge.

Pakistan will continue to work on the basis of mutual respect and equal opportunity with China and other Belt and Road Initiative partners, he added.

Prime Minister Imran also invited international investors to make use of Pakistan’s liberal investment regime and participate in the country’s economy, particularly in infrastructure, railways, dams, IT and manufacturing sectors.

Among the leaders in attendance are Russian President Vladimir Putin, and Italian Prime Minister Giuseppe Conte, whose country became the first G7 member to sign up to Belt and Road.

But EU powers Germany and France are sending ministers instead.

The United States, which sent a senior White House official to the first BRI summit in 2017, has not dispatched any officials from Washington.

Prime Minister Imran arrived in Beijing on Thursday night on a four-day tour, his second visit to China since assuming office in August last year.

The prime minister is visiting the country on the invitation of Chinese President Xi Jinping to attend the second Belt and Road Forum in Beijing.

Since President Xi launched the Belt and Road in 2013, China has invested $90 billion in projects while banks have provided upwards of $300 billion in loans, according to Chinese officials.

Addressing the summit earlier today, Xi rejected accusations that the Belt and Road is a “debt trap” and a geopolitical tool for Beijing´s ambitions of becoming a global superpower.

“The Belt and Road is not an exclusive club,” Xi said. In a nod to the concerns over loans, he said “we also need to ensure the commercial and fiscal sustainability of all projects so that they will achieve the intended goals as planned.”

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