CPEC: hub of connectivity and economic opportunities

ISLAMABAD: The 10th Joint Coordination Committee has emphasized the commitment to industrial partnerships and connectivity in renewable energy, transport, social development, highways and 4th Industrial Revolution, said Zahid Latif, Chairman Asian Institute of Eco-civilization Research and Development (AIERD).

He was speaking at a seminar, "CPEC: Hub of Connectivity and Economic Opportunities". He also highlighted how China grew from the sixth largest economy at the time of joining the World Trade Organization to the second biggest economy, from $1.3tr in 2001 to $15.6tr in 2021.

Zahid Latif, Chairman Asian Institute of Eco-civilization Research and Development, said the major objective is to highlight Pakistan’s commitment for regional connectivity, enhanced bilateral and economic partnership with China and CPEC’s potential for extensive trade between ASEAN countries, Africa, EU and China.

He concluded by coining the idea of introducing a diplomatic corner for stakeholders, diplomats, business community and governments’ representatives where CPEC and political related news and opportunities could be circulated and tapped.

He said the “diplomatic corner” by AIERD will serve as knowledge hub for the diplomatic community in Pakistan. While speaking on the occasion, Chief Executive Officer, Asian Institute of Ecocivilization Research and Development, Shakeel Ahmed Ramay, spoke about the vision and mission of CPEC and the strategies to explore and utilize its potential. The CPEC, he said, will provide benefits to regional states in terms of reducing costs, transportation time and increasing speed of traveling.

According to the statistics of 2016, if China utilizes CPEC route for trade with six countries of European Union and Middle East, it can potentially benefit to the equivalent of $71 billion in savings from transportation cost. He also underlined the great potential of CPEC ventures with Turkey, Saudi Arabia, Africa and ASEAN.

Later, the participants joined Shakeel Ahmed Ramay for launching of his book on the stage. South African Ambassador M. Madikiza, and Ambassador of Indonesia Adam Mulawarman Tugio, especially appreciated the work of AIERD and Shakeel Ramay. The event was attended by Ambassador of South Africa M Madikiza, Ambassador of Indonesia, Adam Mulawarman Tugio, Ambassador of Turkmenistan, Atadjan Movlamov, Ambassador of Italy, Andreas Ferrarese, and Pang Chunxue, Minister, Deputy Chief of Mission of China, Deputy Chief of Mission Kuwait, Muneeb, Director CPEC, Foreign Service of Pakistan, along with other dignitaries.