Pakistan and China have ramped up their efforts towards establishing a Working Group for five fresh Economic Corridors in phase 2 of the CPEC, aligning with the 5Es framework previously devised by the Planning Ministry.
This agenda took center stage during a meeting held between Federal Minister of Planning, Development & Special Initiatives, Professor Ahsan Iqbal, and Chinese envoy Jiang Zaidong at the Planning Ministry, spanning over an hour.
Expressing congratulations to Professor Ahsan Iqbal on his fourth term as Planning Minister, Chinese Ambassador Jiang Zaidong, alongside the Pakistani counterpart, agreed on expediting phase 2 of the CPEC. They decided to form a working group focusing on five new economic corridors: Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development.
To facilitate this, both the Planning Ministry and China’s National Development and Reform Commission (NDRC) will draft separate concept papers outlining a clear roadmap for each sector. These papers will be consolidated for presentation at the upcoming Joint Coordination Committee (JCC) meeting in 2024, as confirmed by the Planning Ministry.
Initiating the implementation of the 5Es framework—Export, Energy, Equity, E-Pakistan, and Environment—the Planning Ministry aims to align it with the new economic corridors to bolster Pakistan’s prosperity across sectors under Prime Minister Shahbaz Sharif’s vision. Emphasizing the importance of accelerating Pakistan’s export capabilities, the Minister stressed enterprise development and job creation.
During the discussion, the Planning Minister proposed a strategic approach to maximize the success of Special Economic Zones (SEZs) within Pakistan, suggesting a “one plus Four” model. This model entails partnering each SEZ in Pakistan with one Chinese province, one industry group, one SEZ from China for technical expertise, and a state-owned enterprise to lead SEZ development, aiming to expedite their establishment and growth.
Highlighting Pakistan’s commendable transition to an industrial economy, the Chinese envoy praised Pakistan’s efforts in implementing the CPEC, especially the initiation of phase 2. Emphasizing the need to enhance the efficiency of SEZs, the Chinese envoy suggested that officers in charge visit Chinese industrial parks to observe efficiency measures firsthand.
Professor Ahsan Iqbal stressed that the success of SEZs lies in becoming industry-specific clusters, fostering economies of scale, and creating an environment conducive to innovation and growth.
The discussions also centered on enhancing regional connectivity, with a focus on critical infrastructure projects like the Gwadar Port and the M-8 motorway to strengthen trade links and regional integration.
Appreciating China’s industrial progress, the Minister highlighted it as a motivating force for Pakistan. He acknowledged China’s assistance in developing Pakistan’s exports and emphasized the need to build exports through earned foreign exchange rather than borrowed money.
Ensuring security as a prerequisite for development, the Minister assured the Ambassador of Pakistan’s commitment to the security of Chinese workers and projects, implementing top-level security measures.
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