https://arab.news/8y3nt
- CPEC’s next phase to focus on industrialization, business cooperation and technology transfer
- Ahsan Iqbal thanks Chinese officials in Beijing for backing Pakistan during the standoff with India
ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal on Saturday described Beijing’s development model as a “source of inspiration” for his country while discussing the next phase of the multibillion-dollar China-Pakistan Economic Corridor (CPEC) during a meeting with Chinese Vice Foreign Minister Sun Weidong.
CPEC is a flagship initiative of China’s Belt and Road Initiative (BRI), launched in 2013 to develop infrastructure and connectivity between Gwadar Port in Pakistan and China’s Xinjiang region.
The first phase focused on power generation and road networks, while the upcoming second phase aims to center on industrialization, business-to-business cooperation and technological development.
Iqbal is currently in Beijing to push for deeper economic integration and bilateral collaboration between the two countries.
“China’s development model remains a source of inspiration for Pakistan,” he said during the meeting, according to the Associated Press of Pakistan.
“Learning from China’s experience, Pakistan is moving toward building an export-oriented and technology-driven economy.”
Iqbal recalled how CPEC was transformed from “a paper plan into a multibillion-dollar reality.”
He also lauded China’s support for Pakistan during the recent military standoff with India, saying the Pakistani people “take pride in the everlasting friendship” with Beijing.
“Pakistan-China friendship continues to grow stronger with every passing day and changing circumstances,” he added.
The minister emphasized that the next phase of CPEC would prioritize industrial and technological collaboration between the two countries.
He pointed to Pakistan’s URAAN initiative, a government program aimed at advancing economic, social, and institutional stability through people-centered reforms.
He noted that under the initiative, the government plans to develop a skilled and capable workforce aligned with the needs of CPEC Phase II.
Iqbal said enhanced business-to-business cooperation between the two countries would help further expand the scope of the corridor and stimulate industrial growth in Pakistan.
Vice Foreign Minister Sun reaffirmed China’s commitment to strengthening cooperation with Pakistan in various sectors and expressed support for Islamabad’s development goals.
He described Pakistan’s economic reform efforts as a promising path toward stability and self-reliance.