Pak, China ties have become model of state-to-state relations

ISLAMABAD: Planning Commission Deputy Chairman Sartaj Aziz Monday said that China had become a reliable partner in Pakistan's national development efforts as their relations had become a model of state-to-state relations.

Talking to a 60-member Chinese business delegation, Sartaj said that Pakistan was an ideal destination for Chinese investors due to the goodwill for Chinese and potential of investments in the China Pakistan Economic Corridor (CPEC) which had changed the economic outlook of Pakistan, and that was also being acknowledged globally.

The delegation called on him here at his office.

He said that Pakistan’s macroeconomic indicators continued to solidify grounds for a sustained upward growth trajectory because key constraints impeding the economy from achieving high growth such as power supply and security situation had improved. The gross domestic product (GDP) growth increased last year to a decade high of 5.3%, he added.

Supportive policies like historic low interest rate, high infrastructure spending and better law and order, Sartaj said, had encouraged a number of firms to pursue expansion plans.

He said that the government had announced an incentive package for exporters, which would provide an opportunity to private sectors, including foreign investors, to fully benefit from it by modernizing their business processes, investing in research and development, improving human capital, seeking international certifications, and meeting quality standards.

Sartaj Aziz said the CPEC was the most important pillar of 'One Belt One Road' initiative and both the countries had agreed to build roads, railways, and oil and gas pipelines under the project.

He said nine special economic zones would be built under the CPEC, which would be open for investors across the world to come and invest in their fields of interest.

He said the Chinese technical standards were widely accepted and if those were adopted in sectors like agriculture and livestock, minerals, textile, sports and surgical goods then those could become important export items for China and rest of the world.

Sartaj Aziz said the Government of Pakistan would ensure seamless security for the Chinese friends. In that regard, a special security division had been raised and same arrangement would be made for investors as well.