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President for realizing full potential of Pak-China bilateral commerce

ISLAMABAD: President Dr Arif Alvi on Tuesday careworn enhancing bilateral commerce with China, which at present stood at $27.8 billion, and mentioned the strengthening of companies may show mutual reward.

Speaking to the outgoing Chinese language Ambassador Nong Rong right here on the Aiwan-e-Sadr, the president mentioned underneath the China Pakistan Financial Hall (CPEC), 19 initiatives had been accomplished, 28 had been underneath building, and 41 had been within the pipeline.

President Alvi mentioned CPEC was a transformational flagship challenge of the Belt and Highway Initiative, which had the potential to behave because the pivot of regional peace and connectivity.

The expeditious completion of 4 broad clusters of cooperation – Gwadar Port and its auxiliary options, vitality initiatives, transport infrastructure and industrial cooperation together with the event of Particular Financial Zones (SEZs) – would change commerce, enterprise and funding outlook of the nation, he mentioned.

The president noticed that with shifts underway on the world stage, there was a must additional expedite the progress on CPEC in order that the products ought to begin transferring from South China to the Gwadar Port and upward in a daily method.

The second part of CPEC must be pursued expeditiously to advertise agriculture; innovation and IT sector; industrial cooperation; livelihood era and poverty alleviation; vehicles, textiles and leather-based manufacturing; and shifting of Chinese language industries to Pakistan wherever attainable, he added.

The president mentioned that the signing of China-Pakistan Free Commerce Settlement in January 2020 had additional liberalized the commerce leading to a big growth in commerce volumes, noting that as per knowledge for the primary 11 months of 2021, bilateral commerce reached a file excessive at $27.8 billion registering a rise of 60 p.c with the corresponding interval of 2020.

Pakistan’s exports amounting to $3.6 billion additionally registered a rise of 68% 12 months over 12 months, he added.

The president expressed his satisfaction over the surrounding cooperation between the 2 nations within the fields of defence to socio-economic growth

He conveyed his deepest gratitude to the folks of China and President Xi Jinping for extending beneficiant monetary help to Pakistan which helped the nation to deal successfully with the monetary state of affairs confronted by it and through international warming-induced tremendous floods final 12 months which proved useful in assuaging the struggling of the flood affected individuals.

He mentioned the Chinese language grant to the Presidency could be used to construct a digital outreach platform to offer assist to folks underneath stress or going through psychological well being points.

He mentioned the First Girl throughout her upcoming go to to United Kingdom would have interaction the psychologists and psychiatrists of the Pakistani diaspora in the UK to hunt their lively involvement to offer on-line counselling and recommendation to folks going through psychological well being conditions.

The president expressed the hope that the approaching 12 months of the Rabbit could be monumental for Pakistan-China relations.

He appreciated the outgoing ambassador for representing China with dignity and beauty in the most effective traditions of Chinese language diplomacy and wished him success in his future skilled assignments.

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