Pakistan, China ink agreement for industrial development

Official says special economic zones being established across Pakistan where Chinese enterprises could relocate their industry.

BEIJING: As part of the China-Pakistan Economic Corridor (CPEC), Pakistan and China have been engaged in a number of collaborations in different sectors.

Today, the two countries signed a memorandum of understanding aimed at promoting industrial cooperation between the two countries.

Speaking at the MoU signing ceremony, Pakistan’s economic minister at its embassy in Beijing Aslam Chaudhry highlighted the incentives the government was offering to attract foreign investment, especially from China.

He said special economic zones were being established across Pakistan where the Chinese enterprises could relocate their industry and export products to different countries taking advantage of preferential agreements signed by Pakistan with various countries.

Chaudhry said the government was also focusing the industrialization in the second phase of China-Pakistan Economic Corridor and offering opportunities in various sectors.

The collaboration with the two countries has increased manifold during the last over a decade especially after the launch of CPEC.  

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