KARACHI: President of the United Business Group (UBG), Zubair Tufail, has said the time has come to accelerate the second phase of the China-Pakistan Economic Corridor (CPEC) by focusing on Special Economic Zones, industrial cooperation, agricultural technology, information technology, mining, e-commerce, and green energy projects.
He added that Gwadar Port has the potential to become a major regional trade hub, enabling Pakistan to benefit not only from transit trade but also from logistics, shipping, and exports.
Congratulating the Chinese leadership and people on the 105th anniversary of the founding of the Communist Party of China, he said that the 75-year diplomatic relationship and enduring friendship between Pakistan and China have evolved into a strong economic partnership.
China is Pakistan’s largest trading partner and investor, while the CPEC has become a historic milestone in bilateral relations, playing a significant role in Pakistan’s economy, infrastructure, and energy sector.
According to a UBG spokesperson, the President of the United Business Group, Zubair Tufail, stated that bilateral trade between Pakistan and China had reached approximately US$24 billion, with China being Pakistan’s largest source of imports. Pakistan’s exports to China stood at around US$3.5 billion, while imports from China had exceeded US$20 billion.
He emphasized that if Pakistani exporters were provided with access to modern technology, value addition, and improved market access, exports to China could be doubled within the next few years.
He said that under the CPEC, more than US$25 billion in direct investment had been made so far, contributing to the development of energy projects, highways, ports, Special Economic Zones (SEZs), and various industrial initiatives.
CPEC projects had created employment opportunities for more than 75,000 Pakistanis, while adding over 8,000 megawatts of electricity to the national grid, helping ease Pakistan’s energy crisis.
Copyright Business Recorder, 2026
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