JWG meeting: Pakistan and China express satisfaction with progress on CPEC SEZs, CPEC Tower in Islamabad proposed

Islamabad: Pakistan and China have expressed satisfaction over progress made on Special Economic Zones (SEZs) being set up under China-Pakistan Economic Corridor (CPEC), including Rashakai, Allama Iqbal, Dhabeji and Bostan.

To discuss the CPEC projects, the sixth Joint Working Group (JWG) meeting was held. The meeting was co-chaired by Secretary Board of Investment Fareena Mazhar and Director General, National Development and Reform Commission of China, Ying Xiong.

Both sides pledged to take forward the framework agreement in a pragmatic manner, which was signed during Prime Minister Imran Khan’s visit to China last month, an official statement issued after the meeting said.

During the meeting, Jiangsu, Zhejiang, Shandong and Guangdong provinces of China committed to fostering their enterprises to develop linkages with Pakistan’s provincial Boards of Investment and to invest therein. The Chinese side showed great interest in the mining sector of Pakistan.

Contrary to the previous JWG meetings, the 6th JWG witnessed active participation and presentations by the provincial National Development and Reform Commission (NDRCs) in China to strengthen business to business collaborations at the provincial levels between the two countries.

Jiangsu, Zhejiang, Shandong and Guangdong provinces committed to encourage their enterprises to develop linkages with Pakistan’s provincial Boards of Investment (BOIs) and invest therein.

Provincial NDRCs vowed to collaborate with Pakistan’s provincial BOIs for joint efforts to bring in meaningful Foreign Direct Investment (FDI) and strike business to business (B2B) ventures. The Chinese side showed great interest in the mining sector of Pakistan.

The China Geological Survey and Metallurgical Corporation of China presented their possible proposals for collaboration in the mining sector of Pakistan.

Representatives of Pakistan Embassy Beijing and Chinese Embassy Islamabad were also present in the meeting along with other JWG members.

China Geological Survey and Metallurgical Corporation of China presented their possible proposals for collaboration in the mining sector of Pakistan. Pakistan Mineral Development Corporation (PMDC) also delivered a detailed presentation highlighting the potential of the sector and possible investment opportunities for Chinese investors.

The Pakistani BOI also presented proposals of establishing a Special Economic Zone at government to government (G2G) basis and CPEC Tower in Islamabad.