ISLAMABAD: Pakistan and China on Friday decided to intensify efforts to establish a Working Group for five new Economic Corridors as part of phase 2 of the China-Pakistan Economic Corridor (CPEC). This move aligns with the 5Es framework prepared by Pakistan’s Planning Ministry.
The Federal Minister of Planning, Development & Special Initiatives, Professor Ahsan Iqbal, held a productive meeting with Chinese envoy Jiang Zaidong at the Planning Ministry, lasting over an hour.
Jiang Zaidong congratulated Professor Ahsan Iqbal on his fourth term as Planning Minister and both sides expressed determination to fast-track phase 2 of the CPEC.
They also agreed to set up a working group focusing on five new economic corridors: Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development.
The Planning Ministry and China’s National Development and Reform Commission (NDRC) will develop separate concept papers for each economic corridor, outlining a clear roadmap for future sectoral development. These papers will be consolidated for presentation at the upcoming Joint Coordination Committee (JCC) meeting in 2024, as per the Planning Ministry’s announcement.
Emphasizing Prime Minister Shahbaz Sharif’s vision for advancing Pakistan’s prosperity, Minister Iqbal highlighted the importance of aligning the 5Es framework with the new economic corridors to boost sectors like Export, Energy, Equity, E-Pakistan, and Environment.
Regarding Special Economic Zones (SEZs), Minister Iqbal proposed a “one plus Four” model to enhance their success, partnering each SEZ in Pakistan with a Chinese province, an industry group for specialized clusters, a Chinese SEZ for technical expertise, and a state-owned enterprise for development leadership.
The Chinese envoy praised Pakistan’s CPEC efforts, particularly phase 2 initiation, and suggested SEZ officers visit Chinese industrial parks for efficiency insights. Minister Iqbal stressed SEZs’ role as industry clusters fostering innovation and growth.
Discussions also revolved around enhancing regional connectivity, focusing on critical projects like Gwadar Port and M-8 motorway. Minister Iqbal praised China’s industrial progress, seeing it as a model for Pakistan’s development.
Minister Iqbal assured top-level security measures for Chinese personnel, emphasizing Pakistan’s commitment to CPEC’s success despite security challenges.
