ISLAMABAD – Minister for Planning, Development and Reform Makhdum KhusroBakhtyar on Monday said that under China Pakistan Economic Corridor’s(CPEC) next phase, the industrial base of the country would be expandedwhich would help in increasing the country’s exports.

The minister said that China has total trade volume worth $4000 billionwith the world; however Pakistan has only $ 80 billion of trade with globalmarket. He was addressing the 3rd annual, two-day conference on CPECconsortium of universities.

Khusro Bakhtyar said the Chinese government is investing $1 billion insocio- economic sector in two years including cooperation in highereducation.

The Chinese government has offered 20,000 scholarships for Pakistanistudents to avail chances of higher education besides financing to build1000 small schools in different areas of the country.

“We have broaden the cooperation through CPEC, in areas of Socio- EconomicDevelopment, agriculture, industries, infrastructure, energy and people topeople contact through the universities for enhancing the multilateralrelations between the two countries,” he said.

Khusro Bakhtyar said that diagnostics study through concrete research isrequired for evaluating the different potential sector to harmonize thesocio- economic development of the both sides.

He said that academia and industrial sector link would be necessary forfilling gaps and connecting the both side to shape the future economicgrowth.

After the 4th industrial revolution, the concept of knowledge economy hasbeen enhanced for working on the new innovative concept of industrialsector, adding that hi- tech was priority of the government to introduceinnovative concepts.

Khusro said the government wanted to add new sectors including iron, minesand minerals, oil and gas sector, copper, pipe line, textiles and automobile sector to exploit potential of trade through CPEC.