August 2 – Think Tanks discuss Pakistan China collaboration in a seminar where various experts shared their insights to navigate through the relations between the two states.
Seminar in Pakistan Institute of Development Economics (PIDE)
On Friday, experts from Pakistani think tanks and China convened for a seminar to explore ways to strengthen collaboration between the two nations, particularly in areas like economic growth and connectivity. The seminar, titled “Pakistan Economy & Growth: Learning from Chinese Experience,” organized by the Pakistan Institute of Development Economics (PIDE) aimed to bolster economic relations between China and Pakistan.
The seminar was designed to facilitate a knowledge exchange and best practices between the two countries, according to an official statement.
PIDE’s Pro VC, Dr. Durre Nayab, opened the event by underscoring the significance of such interactions for fostering growth and development. She stressed the need for adopting strategies that have driven China’s economic success, customized to fit Pakistan’s specific context.
Dr. Haque suggested that Pakistan was on the brink of a new era of economic growth and regional connectivity through the China-Pakistan Economic Corridor (CPEC). He pointed out that Pakistan’s young population and growing middle class made it an attractive prospect for substantial investment and development.
With a median age of 20.6 years and a labor force expanding by over 3 million annually, Pakistan’s demographic profile is a key driver of its growth potential. Consequently, Dr. Haque projected that, with strategic reforms, Pakistan could achieve a growth rate of 7-8% per year, positioning itself as a major consumer market by 2030.
CPEC is expected to transform Pakistan into a logistical hub, fostering cooperation across various sectors, including industrial, agricultural, and financial areas, as well as in human resource development and tourism.
Dr. Haque also noted that Pakistan is undergoing substantial reforms to create a more investment-friendly environment. The shift from a permission-based to a rule-based economy is addressing regulatory issues that have historically impeded growth.
CPEC provides diverse investment opportunities, with leading global companies already investing over $1.5 billion in Pakistan and generating $3 billion in revenue. The Special Economic Zones (SEZs) under CPEC offer further investment prospects, especially in technology and manufacturing sectors.
Electric Vehicles and Sustainable Growth
Dr. Haque highlighted the growth potential in Pakistan’s electric vehicle (EV) market. With more than 50% of households owning motorbikes and demand for cars increasing, the market for electric vehicles (EVs) is expected to expand significantly.
Initiatives to promote EVs and public transport in Islamabad are underway, positioning Pakistan as a key hub for EV production both domestically and for export.
Dr. Haque concluded that by learning from China, Pakistan could develop strategies to tackle economic challenges and achieve sustainable growth.
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