ISLAMABAD – China appreciated the efforts undertaken by the Pakistani sideto elevate the memorandum of understanding (MoU) on industrial cooperationinto a framework for an increased cooperation under China Pakistan EconomicCorridor (CPEC) and agreed to continue consultation for its signing at theearliest.
The Chinese side also appreciated the idea of joint industrial diagnosticstudies followed by an action plan, said a press release issued by Board ofInvestment (BoI) here on Tuesday.
The 5th meeting of Joint Working Group (JWG) on Industrial Cooperation (IC)under CPEC was held via video conference here.
The meeting was co-chaired by BoI Additional Secretary Khashih-ur-Rehman,and National Development and Reform Commission (NDRC) director general,China Ying Xiong, officials from line ministries, provincial governments,and embassies attended the meeting.
Concluding the meeting, the BoI additional secretary said it is the righttime to resume the activities with mutual consensus in due course for whichthe Pakistani side will ensure all out support.
He also requested the Chinese side to arrange industrial visits ofPakistani delegations to provide them with firsthand experience ofsuccessful industrial models in China.
The meeting also discussed progress made on Rashakai, Dhabeji, Allama IqbalIndustrial City and Bostan Special Economic Zones (SEZs) under CPEC, therevival project of Pakistan Steel Mills, China Pakistan Young WorkersExchange and Cooperation, and Karachi Coastal Comprehensive DevelopmentZone.
BoI Additional Secretary/EDG Khashih-ur-Rehman expressed that elevation ofthe MoU on IC between Pakistan and China, into a comprehensive frameworkwould create new avenues for strengthening industrial cooperation underCPEC which is also open to third party participation.
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BoI Project Management Unit (PMUC-CPEC-ICDP) on IC Project Director AsimAyub appreciated the Chinese side for accepting the draft frameworkagreement shared by the Pakistani side in early November 2020.
He commented that early signing of the framework agreement on IC would helpto achieve maximum objectives of CPEC in line with its long-term plan.
Immense efforts have been ensured by the Pakistani side to devise the draftframework, taking all the provinces and other stakeholders on board andfinal approval of the Honorable Prime Minister was also obtainedaccordingly.
He stressed that a framework agreement is needed for the hour for ameasurable impact with regards to IC, SEZs, Business to Business and Peopleto People collaboration.
The project director further accentuated that Pakistan highly regards theidea of industrial diagnosis by the Chinese side and extended its highestsupport to the group of experts from CIECC for the Textile IndustrialDiagnosis last year.
However, he was of the view that the industrial diagnosis needs to becarried out in a joint manner involving experts from both sides who maysubmit the diagnosis report to the JWG along with an action plan that wouldbe imperative for the respective industrial sector.
