The government announced on Tuesday that Prime Minister Shehbaz Sharif’s upcoming visit to Beijing later this month will formally launch the second phase of the China-Pakistan Economic Corridor (CPEC-II), focused on industrial cooperation after years of delay.
Planning Minister Ahsan Iqbal, who chaired a high-level meeting to review preparations for the Joint Cooperation Committee (JCC) session, said that both sides would set clear priorities and agree on measurable outcomes for the new phase. He emphasised that the future of CPEC should be grounded in quality over quantity, with only carefully selected, high-impact projects advancing to ensure sustainability and promote institutional reforms.
Iqbal highlighted the importance of expanding Pakistan’s trade and export presence in China, urging authorities to remove visa delays for genuine businesspersons and design an outcome-oriented plan to diversify exports, enhance industrial linkages, and utilise expanded market access under CPEC.
He also underlined the need to maximise benefits from China’s offer of 10,000 training opportunities across multiple sectors, insisting on a transparent framework. Hence, the right individuals gain skills aligned with institutional requirements.
The meeting reviewed progress in areas including special economic zones, industrial relocation, mining, agriculture, artificial intelligence, and the Multan-Sukkur Motorway. The minister directed outcome-focused studies on China’s industrial relocation trends and Pakistan’s potential export strengths, targeting a share of $30–50 billion from China’s annual $2 trillion imports.
Iqbal further noted that artificial intelligence alone could add Rs24.9 trillion ($88bn) to Pakistan’s economy by 2030, with productivity gains across agriculture, manufacturing, mining, fintech, and energy. He called for close engagement with the private sector, academia, and research institutions to ensure long-term competitiveness and economic resilience.
The prime minister is expected to attend the Shanghai Cooperation Organisation (SCO) summit in Beijing on August 31–September 1, where meetings with Chinese President Xi Jinping and Russian President Vladimir Putin are also on the agenda.
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