The Chinese government has lauded Pakistani authorities over the launch of Pak-China Business Investment Forum (PCBIF).

Prime Minister Imran Khan, on Monday, launched the PCBIF aimed at enhancing information exchange and promoting communication between businesses of the two countries, thereby opening up new avenues of cooperation.

Khan in his address said that the launch of the business forum is important “because the government needs your feedback, to know the difficulties businesses face in enhancing the trade”.

Meanwhile, addressing a press conference, Chinese Foreign Ministry Spokesperson Wang Wenbin said, “The Chinese side appreciates the great importance Prime Minister Imran Khan and the Pakistani government attach to China-Pakistan business cooperation and the positive efforts they’ve made in this regard.”

The spokesperson said that the China-Pakistan Economic Corridor (CPEC), which is an important pilot project of the Belt and Road Initiative (BRI), has entered a new stage of high-quality development.

“Going forward, the project will focus on industrial, scientific and technological, social and livelihood cooperation. We are glad to see more interactions and exchanges between Chinese and Pakistani businesses, and to deepen and expand bilateral economic, trade and investment cooperation for the benefit of the two peoples,” he said.

The forum consists of 18 Chinese and 19 Pakistani companies and its objective is to promote sustainable investment, export industry and development of modern technology in Pakistan and has been formed with the collaboration of the Board of Investment, Pakistan and the All-Pakistan Chinese Enterprises’ Association (APCEA).