PM claims that CPEC-II presents opportunities for the private sector.

Prime Minister Shehbaz Sharif stated on Tuesday that the second phase of the China Pakistan Economic Corridor (CPEC-II) presents a chance for the private sectors of both nations to establish collaborative business partnerships.

He emphasised that the China-Pakistan Economic Corridor (CPEC) has played a significant role in promoting Pakistan’s socio-economic growth and benefiting the people of both nations.

The individual expressed optimism that the second phase of the China-Pakistan Economic Corridor (CPEC) will lead to increased industrial, scientific, and environmentally sustainable progress inside the nation.

During a meeting with a prominent team from the Chinese International Development Cooperation Agency (CIDCA), headed by Chairman Luo Zhaohui, the prime minister expressed that China is Pakistan’s most reliable ally and acknowledged China’s unwavering assistance to Pakistan.

The prime minister expressed appreciation for CIDCA’s crucial contribution to Pakistan’s economic progress, particularly highlighting its significant assistance during the 2022 floods and its efforts in providing relief, rehabilitation, and reconstruction in the country.

Prior to this, he observed the signing of four Memorandums of Understanding (MoUs) that centred around flood rehabilitation, information and communication technologies, Juncao Technology, and China-Pakistan Development Cooperation Planning (2024-2028). Additionally, a Letter of Exchange was signed to establish a First Aid Centre in Balochistan, and a Protocol on Cooperation in Human Resources Development was agreed upon under the Global Development Initiative.

The statement issued by the PM Office indicates that these agreements represent the strengthening collaboration between Pakistan and China in multiple industries.

The conference was attended by Chinese Ambassador in Pakistan Jiang Zaidong, as well as Federal Ministers for Foreign Affairs, Economic Affairs, Finance, Interior, Planning & Development, SAPM Tariq Fatemi, and senior officials of Pakistan.