Chinese companies make contributions towards Pakistan's economic growth: senate chairman

ISLAMABAD, Oct. 14 (Xinhua) -- Chairman of the Senate of Pakistan Yousuf Raza Gilani said that Chinese companies in the country have been making contributions towards the national growth and improving business landscape in the South Asian country.

Speaking at the launching event of two reports titled "The Glorious 11 years--How Chinese Companies Reshaped the Power Sector in Pakistan" and "Business Climate Index of Chinese Companies in Pakistan," organized by the China Chamber of Commerce in Pakistan, here on Sunday, Gilani said that Chinese companies are creating employment opportunities, improving local production and infrastructure as well as contributing positively in the national economy of Pakistan.

He said that the fast-paced geo-economics and geostrategic shifts at regional and global levels underscore the growing importance of economic integration, adding that Pakistan seeks to strengthen regional cooperation by fostering economic ties with partner nations, and China stands at the very top.

Highlighting the need for further cooperation between Pakistan and China, the senate chairman said that Pakistan offers immense potential for trade investment and joint ventures in the areas of energy, infrastructure, agriculture, and technology.

The Chinese companies are equipped with innovative ideas, competitiveness, and a forward-looking approach, and Pakistani entrepreneurs and companies can learn a lot from the Chinese experience, he said, adding that the government is taking measures to provide a conducive business environment for foreign investors and companies.

Talking about the China-Pakistan Economic Corridor (CPEC), a flagship project of the China-proposed Belt and Road Initiative (BRI), Gilani said that CPEC played a vital role in reshaping Pakistan's energy and infrastructure sectors.

In the second phase, he said bilateral cooperation between the two countries would further expand in areas such as agricultural modernization, industrial growth, mining and mineral exploration, science and information technology, and educational and cultural partnerships to transform Pakistan's social-economic development.

On the occasion, Chinese Ambassador to Pakistan Jiang Zaidong said that China is ready to work with Pakistan to implement the important consensus reached by the leaders of the two countries, promote synergy between the high-quality joint building of BRI and Pakistan's development plans, upgrade the CPEC, and jointly build a growth corridor, a livelihood-enhancing corridor, an innovation corridor, a green corridor, and an open corridor.

"China is willing to promote the high-quality development of China-Pakistan practical cooperation and bring tangible benefits to the two peoples, especially our Pakistani brothers and sisters," he added.

Launched in 2013, the CPEC is a corridor linking the Gwadar Port in southwest Pakistan's Balochistan province with Kashgar in northwest China's Xinjiang Uygur Autonomous Region, which highlights energy, transport, and industrial cooperation in the first phase, while in the new phase expands to fields of agriculture and livelihood, among others.