Prime Minister Shehbaz Sharif: CPEC’s Second Phase to Transform Pakistan’s Economy

ISLAMABAD—On Thursday, Prime Minister Muhammad Shehbaz Sharif emphasized that the second phase of the China-Pakistan Economic Corridor (CPEC) holds significant promise for transforming Pakistan’s economy. Speaking at an event organized by the Chinese Embassy to commemorate China’s 75th anniversary, the Prime Minister highlighted the vast potential for mutual cooperation across various sectors.

“We are entering the second phase of CPEC, which presents immense opportunities in agriculture, information technology, mining, and numerous other areas of mutual interest,” he stated, underscoring the initiative’s transformative impact on Pakistan’s economic landscape.

During his address, Prime Minister Sharif extended his congratulations to the Chinese government and its citizens, recognizing China’s status as a global power and a key partner in international affairs. The event was attended by President Asif Ali Zardari, federal ministers, diplomats, dignitaries, and high-ranking civil and military officials, reflecting the importance of the occasion and the enduring friendship between Pakistan and China.

Both leaders reaffirmed their commitment to working together for a prosperous future, emphasizing the strength and significance of the Pakistan-China partnership. “The friendship between Pakistan and China is higher than the Himalayas and deeper than the oceans,” Prime Minister Sharif remarked, capturing the deep-seated bond that has flourished over decades.

The Prime Minister also took the opportunity to acknowledge China’s crucial support during negotiations with the International Monetary Fund (IMF), highlighting how this assistance has been pivotal for Pakistan’s economic stability. He expressed gratitude for China’s unwavering partnership during challenging times, reinforcing the notion that the two countries stand by each other in times of need.

As the second phase of CPEC unfolds, Prime Minister Sharif reiterated the government’s determination to harness the full potential of this collaboration. The focus on sectors such as agriculture and technology is seen as a pathway to not only boost economic growth but also create job opportunities and improve the quality of life for Pakistanis.

The event served as a reminder of the historical ties between Pakistan and China, which have grown stronger through mutual support and collaboration. The leaders’ statements highlighted a shared vision for the future, one that is rooted in cooperation and development.

Looking ahead, the Prime Minister expressed optimism about the opportunities that lie within the second phase of CPEC. He believes that this initiative will not only enhance trade and investment between the two countries but also contribute to regional stability and prosperity.

In conclusion, Prime Minister Shehbaz Sharif’s remarks during the commemorative event underscore the transformative potential of CPEC’s second phase for Pakistan’s economy. With a focus on collaboration in key sectors, the partnership with China promises to be a driving force for growth and development in the years to come.

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However, he stressed the need to develop in various fields including agriculture, industry and other areas to ensure development and prosperity in the country.

He reiterated that the ongoing partnership not only fostered regional development and peace but also contributed to global stability and progress, aligning with President Xi Jinping’s vision.

Prime Minister Shehbaz Sharif reaffirmed Pakistan’s unwavering support for China’s stance on various international issues, particularly regarding Hong Kong and Taiwan. He expressed appreciation for the warm welcome he received from President Xi Jinping and other Chinese leaders during his recent visit, highlighting that the bond between the two nations is both indestructible and inseparable.

The Prime Minister also expressed enthusiasm for the upcoming visit of the Chinese Prime Minister, who is set to attend the Shanghai Cooperation Organization Council of Heads of Government (SCO CHG) meeting in Islamabad.

During the event, Chinese Ambassador to Pakistan, Jiang Zaidong, praised President Xi Jinping’s leadership for ushering in a new era of development in China, transitioning the nation from a disadvantaged society to one of prosperity. He reaffirmed China’s commitment to working collaboratively with Pakistan on the active implementation of initiatives aimed at mutual development and cooperation. This underscores the shared vision both countries have for their partnership, focusing on growth and collaborative efforts to address common challenges.

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