Pakistan-China Partnership Enters New Economic Phase

ISLAMABAD: (Web Desk) – Federal Minister for Planning Ahsan Iqbal has said that Pakistan–China cooperation has entered a new phase that goes beyond infrastructure development and is now centered on production, exports, job creation and sustainable growth.

Speaking at the China–Pakistan Mineral Cooperation Forum on Wednesday, he said that as the two countries mark 75 years of diplomatic relations, their partnership has emerged as a strong symbol of continuity, mutual trust and strategic depth. He noted that the China–Pakistan Economic Corridor (CPEC) has transformed Pakistan’s development landscape through major investments in energy, road networks, Gwadar Port and national connectivity.

During the forum, Pakistan and China jointly launched the Pak-China E-Mining Platform, a digital initiative designed to improve information-sharing, project coordination and cooperation between Pakistani authorities and Chinese companies. The platform aims to unlock over $10 billion in investment in Pakistan’s mineral sector.

Ahsan Iqbal said that CPEC 2.0 aligns closely with Pakistan’s national economic transformation plan, “Uraan Pakistan,” which targets building a $1 trillion economy by 2035. He added that during his recent visit to China, a Memorandum of Understanding (MoU) was signed to connect Uraan Pakistan’s Five Es with President Xi Jinping’s Five Growth Corridors, creating strong synergy in planning, investment and implementation.

Highlighting the importance of the mineral sector, the minister said Pakistan’s mineral reserves are estimated at $6 trillion, yet current mineral exports stand at only $2 billion annually. With improved governance, modern technology and international partnerships, he said exports could increase to $6–8 billion per year, generating millions of jobs.

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He stressed the need to expand Pak-China mineral cooperation beyond extraction to include value addition, processing, smelting and refining. Projects such as Saindak, Dodar and Thar were cited as successful examples, while recent investment agreements reflect growing investor confidence.

Ahsan Iqbal emphasized that mineral development must be sustainable, environmentally responsible and inclusive, ensuring that resource-rich regions like Balochistan and Khyber Pakhtunkhwa benefit through employment, education and health services.

He reiterated that the security of Chinese citizens and investments remains a top priority for the Pakistani government, with effective measures being implemented under the Special Investment Facilitation Council (SIFC).

Inviting further Chinese investment, the minister highlighted opportunities in copper, gold, rare earth elements and other strategic minerals, saying Pakistan aims to convert its mineral wealth into industrial strength, export competitiveness and shared prosperity.

Making a direct appeal, he urged China to open its vast import market to Pakistan, noting that even a small trade quota could help the country break free from repeated IMF bailouts. He pointed out that China’s annual imports total around $2 trillion, and securing a modest share could significantly boost Pakistan’s economy. He said Pakistan’s exports to China could rise from $3 billion to $50 billion by 2035, easing foreign exchange pressures and supporting long-term growth.

He added that the recent high-level visit of Pakistan’s prime minister to China elevated this cooperation to a new strategic level. Hundreds of companies from both sides participated in a large B2B conference during the visit, resulting in the signing of multiple MoUs and trade agreements across sectors including minerals, energy, manufacturing, agriculture, IT and logistics.

The Pak-China E-Mining Platform is expected to enhance transparency, efficiency and collaboration in mineral development. The forum, organized by the China Chamber of Commerce in Pakistan, was attended by more than 70 Chinese companies, over 100 Pakistani firms and around 800 participants, reflecting strong bilateral interest.

Chinese Ambassador to Pakistan Jiang Zaidong, delivering the keynote address, reaffirmed China’s keen interest in investing in Pakistan’s mining sector and supporting capacity-building and technological advancement. He underscored the importance of sustainability and international standards in mining, noting that responsible practices can improve resource utilization and strengthen relations with local communities. He added that the Saindak project alone has trained more than 5,200 local workers, highlighting the long-term benefits of such cooperation.