CPEC – Manifestation of Pak-China partnership

Raja Pervez Ashraf, Speaker of the National Assembly, stated on Tuesday that the China Pakistan Economic Corridor (CPEC) was an epic representation of Pakistan and China’s unwavering friendship and all-weather strategic cooperative cooperation.

Speaking at the inauguration of the All-Pakistan Chinese Enterprises’ Association (APCEA) sustainable development report 2022, he claimed the project was viable and would benefit both Pakistan and China, rather than the entire region.

The Pakistan Institute of Parliamentary Services hosted the event, which was jointly org. He added that despite difficulties, Pakistan’s top priority had always been sustained economic development. Through improved connectivity and socioeconomic development, CPEC significantly contributed to the achievement of the aforementioned goal.

The launch of the “APCEA Sustainable Development Report 2022” was coordinated by the SDGs Secretariat and APCEA. The paper highlights the CPEC’s role in implementing the 2030 Agenda while providing a thorough analysis of the CPEC projects in Pakistananised by the SDGs Secretariat of the National Assembly of Pakistan and APCEA.

The CPEC, according to the speaker, is one important strategic necessity that has drawn attention in Pakistan and elsewhere. He noted that the project’s ongoing second phase has moved its focus to Pakistan’s education sector, economy, infrastructure, and sustainability, including the opening of institutions for technical education and the beginning and growth of student exchange programmes.

In his welcome speech, Mr. Wang Jie, Executive Vice Chairman APCEA and CEO of Bank of China Limited Pakistan Operations, outlined the critical need for understanding the significance of sustainable development and implementing all appropriate corrective measures. The achievements of Chinese businesses in sustainable development in 2022 are succinctly outlined in the APCEA Sustainable Development Report 2022.

He articulated the views of APCEA regarding the concepts of “sustainability” and “sustainable development,” which extend beyond the production of renewable energy. In order to strengthen ties between Pakistan and China, he claimed that Chinese businesses practice sustainable development in all areas. As a result, their guiding principle is the realization of Corporate Social Responsibility (CSR), which also includes dependability, technical advancement, the well-being of the neighbourhood, and the development of their abilities.

CPEC

In highlighting the report’s key findings, Romina Khurshid Alam, convener of the National Parliamentary Taskforce on the SDGs, said that in light of Pakistan’s youth bulge and Phase II of the CPEC, it is essential to give priority to building new schools, technical and vocational training facilities, and higher education institutions while also renovating the ones that are already in existence.

She also emphasised the contribution of CPEC to the Sustainable Development Goals, in particular SDGs 7 (Clean Energy), 8 (Decent Work and Economic Growth), 11, 12, 13, and 17 (Protect the Planet) (Partnership for Goals).

She went on to say that the CPEC projects have given Pakistan’s citizens new prospects for socioeconomic advancement. It was mentioned that Pakistan offers investment opportunities worth several billions of dollars in sectors that directly serve the SDGs as part of CPEC Phase II. Just a few of the industries covered include transportation and logistics, healthcare, education, alternative and renewable energy, technology and communication, and finance. CPEC offers tremendous opportunities for talent development and the development of regional value chains that include China.

The CEO of Challenge Fashion Private Limited, Ms. Chen Yen, also shared her thoughts on the matter. She said that the China-Pakistan Economic Corridor (“CPEC”) is a modern-day economic wonder. The genuine advantages of CPEC for the region are numerous and not just economic; they will also assist Pakistan in achieving economic growth driven by green development. Pakistan’s economic growth is certain to reach greater heights with the persistent and committed efforts of both nations.