Pakistan shall not miss historic opportunity of China’s industry relocation: experts
ISLAMABAD, June 29. (Gwadar Pro) - On the Breakout Session on China-Pakistan Economic Corridor of the one-day Turn Around Pakistan Conference launched by Ministry of Planning, Development & Special Initiatives, experts from China and Pakistan reached a consensus on the CPEC opportunities for Pakistan, including infrastructure development, overcoming energy crisis, industrialization and export promotion, SEZ construction, etc. Pakistan shall not miss this historic opportunity of China’s industry relocation.
Since the launch of China’s reform and opening-up policy, China has become a major manufacturing country with its unique advantages in population, resources and policies. However, with the rapid development of China’s economy, problems such as overcapacity have gradually restricted its economic development.
Through a video message, Wang Zihai, President of Pakistan China Joint Chamber of Commerce and Industry, highlighted that undertaking China’s already developed industrial chain is a win-win cooperation for China and Pakistan. The fruitful results achieved by CPEC enable Pakistan to undertake the transfer of Chinese industries.
“Ten years ago, China initiated a wave of industrial transfer, but Pakistan missed that opportunity; while ASAEAN countries, especially Vietnam and Malaysia, got the opportunity to achieve rapid development during that period. Now this opportunity comes again,” Wang explained. “After the transfer of Chinese industries to Pakistan, it will not only strongly promote the economic development of Pakistan, but also attract enterprises from other countries to invest in Pakistan and further improve the industrial foundation of Pakistan,” he said.
As an important carrier of industrial transfer, the development of special economic zones may be a game-changer for Pakistan. Li Yong, Commercial Counselor of Chinese Embassy in Pakistan, introduced the development course of China’s special economic zones. China has valuable experience in the construction of special economic zones. The construction of special economic zones under CPEC including the Rashakai SEZ is in full swing.
Mr. Naveed Sherwani said that the industrial IoT is taking shape in China. Against the backdrop of digital CPEC, China’s IoT technology transfer to Pakistan is of great benefit to Pakistan. Pakistan can install sensors in existing factories to collect data and send talents to China for further study.
Amer Zafar Durrani, President Reenergia & Development Expert on Trade facilitation & Regional Connectivity emphasized the role of CPEC (SEZs) in the face of emerging challenges to integration in global value chains. Mustafa Syed, Executive Director of Pakistan-China Institute, and a wide range of stakeholders including public and private organizations, think tanks, academia, independent experts, and other members of civil society, attended in a bid to achieve the goals outlined in the Planning Commission’s Pakistan Vision 2025.
Experts concluded that a stable policy is a powerful guarantee for the implementation of industrial transfer, and a safe and secure environment is the most important need of every investor. The local industry is requested with an open mind to join hands with the Chinese industry for a win-win situation. They called on joint ventures to be established according to each other’s advantages.