Ahsan Iqbal Seeks Stronger Pakistan-China Business Cooperation Under CPEC
CPEC 2.0 Focuses on Technology Transfer and Private-Sector Investment
ISLAMABAD: (Staff Reporter) – Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has called for stronger business-to-business cooperation between Pakistan and China, saying the second phase of the China-Pakistan Economic Corridor (CPEC 2.0) will focus on industrial growth, exports, technology transfer and private-sector investment.
He made the remarks during a meeting with a business delegation from China’s Xinjiang region, led by Yuan Jianmin, Senior Advisor to the Xinjiang Government.
Highlighting the longstanding friendship between the two countries, Ahsan Iqbal said Xinjiang held particular importance in Pakistan-China relations. He pointed to the shared border, people-to-people connections and the Karakoram Highway as enduring symbols of bilateral friendship and regional connectivity.
The minister stressed the need to remove trade barriers and expand commercial links between businesses in both countries, saying stronger economic partnerships would be essential to making CPEC 2.0 more successful than its first phase.
Recalling the achievements of the initiative, Ahsan Iqbal said an agreement signed in July 2013 had led to more than $25 billion in investment within five years. He added that Chinese investment in the power sector had increased Pakistan’s electricity generation capacity by around 8,000 megawatts, helping address severe energy shortages and supporting economic development.
He said the second phase of CPEC would prioritise industrial cooperation, greater participation by Pakistan’s private sector, mining and minerals, information technology, advanced technologies and educational exchanges.
Emphasising the importance of export-led economic growth, the minister said an additional $7 billion in exports over the next three years could help Pakistan strengthen its economy, create jobs and reduce dependence on external financial assistance.
Ahsan Iqbal encouraged Chinese companies to establish manufacturing facilities in Pakistan and use the country as a production and export hub for regional and international markets. He said investment focused on industrial development and exports could help Pakistan move towards higher-value production, expand employment opportunities and strengthen its export base.
Yuan Jianmin praised Ahsan Iqbal’s longstanding role in advancing economic cooperation between the two countries, describing him as a torchbearer of CPEC. Recalling their first meeting in May 2013, Yuan acknowledged the minister’s support, encouragement and commitment to the flagship economic initiative.
The Chinese delegation leader also highlighted opportunities to expand cross-border trade through the Khunjerab Pass, establish a Pakistan-China border trade market and increase Pakistani exports to China.
He identified further investment prospects for Chinese companies in manufacturing, new energy, artificial intelligence and advanced technologies, expressing confidence that CPEC 2.0 would produce significant results through continued cooperation between the two countries.
The meeting concluded with a reaffirmation of Pakistan and China’s commitment to turning their longstanding friendship into stronger commercial partnerships, increased bilateral trade and mutually beneficial investment.
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