CPEC Business Council kicks off first meeting

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CPEC Business Council kicks off first meeting

By app
Apr.06,2019

Minister hopes to address trade imbalance, broaden market access


ISLAMABAD: The scope of the China-Pakistan Economic Corridor (CPEC) has been expanded with focus on industrial and agricultural cooperation, socio-economic development, trade and market access, said Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar.

Co-chairing the first meeting of the CPEC Business Council on Friday, he detailed that the purpose behind the establishment of the forum was to create an interface between the government and business community besides uplifting industrial cooperation between Pakistan and China.

He elaborated that through industrial cooperation, the two nations planned to address trade imbalance, broaden market access for agricultural products and encourage business to business collaboration.

“The aim of the council is to provide a platform for regular consultations between the government and business community on matters pertaining to private sector investment besides enhancing industrial cooperation under CPEC,” he added.

Bakhtiar voiced optimism that the creation of the forum would accelerate the pace of industrialisation under the umbrella of CPEC.

The minister reiterated that the focus was on boosting Pakistan’s industrial capacity through joint ventures in priority areas, relocation of labour-intensive export led industry, collaboration of small and medium enterprises, and enhancement of vocational training capacity.

Also co-chairing the meeting, Adviser to PM on Commerce Abdul Razak Dawood was of the view that following the implementation of early harvest projects under CPEC, the stage was now


set to expedite industrial collaboration, which would help attract private investments and diversify exports.


‘CPEC economic zones will help bridge trade deficit of $9b’

He added that CPEC had entered its second phase where industrialisation and agriculture growth were the main goals of the current regime.

“Special economic zones (SEZs) have acted as engines of growth for many developing states around the world for the last few decades,” he noted. “Now it’s high time for Pakistan to convert its SEZs into growth hubs.”

The adviser hoped that the SEZs would attract investment from diverse sources because they offer a combination of tax-and-tariff incentives, streamlined customs procedures and less regulation.

Published in The Express Tribune, April 6th, 2019.

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B2B cooperation kicks off with inaugural meeting of CPEC Business Council

ISLAMABAD: Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar along with Adviser to Prime Minister on Commerce, Industry and Textile Abdul Razak Dawood Friday co-chaired the first meeting of the China Pakistan Economic Corridor (CPEC) business council here.

Speaking on this occasion, Bakhtyar said the purpose behind establishing this forum is to create an interface between the government and business community and take forward the industrial cooperation between Pakistan and China to new heights for mutual benefit, a Board of Investment statement said.

Through industrial cooperation, “We also want to address trade imbalance, broaden market access for agricultural products and encourage business to business (B2B) cooperation between the two countries,” he said.

He said scope of CPEC has been expanded with focus on industrial and agriculture cooperation, socioeconomic development, trade and market access.

The minister expressed the optimism that the creation of CPEC business council, with representation from private sector leading associations and companies in various areas, will accelerate the pace of industrialization under the umbrella of mega project.

He said focus is to boost Pakistan’s industrial capacity through joint ventures in priority areas, relocation of labor-intensive export led industry, Small and Medium Enterprises collaboration and enhance vocational training capacity.

Adviser to Prime Minister, Abdul Razak Dawood said after implementation of early harvest projects of energy and infrastructure under CPEC, the stage is now set to expedite the industrial collaboration which will help to attract private investments and diversify the country’s exports.

He said, “We are in the second phase of CPEC where industrialization and agriculture growth would be the main goals of the current regime.”

Special Economic Zones (SEZs) have been the engine of growth for many developing states around the world for the last few decades and it’s the high time for Pakistan to convert its SEZs into growth hubs.

The adviser hoped that SEZs would attract investment from diversified sources because they offer a combination of tax-and-tariff incentives, streamlined customs procedures and less regulation.

He said the production of finishing goods is the topmost priority, which will help Pakistan in reducing trade deficit.

Earlier, Board of Investment (BoI) Chairman Haroon Sharif welcomed all the members to the first meeting of the council and said BoI will serve as Secretariat for the CPEC Business Council adding a dedicated team of professionals has been hired in this regard.

He said the BoI is improving its capacity to deal with matters of industrial cooperation with China and urged the members to come up with tangible suggestions in this regard.

Secretary Planning Zafar hasan, Project Director of CPEC, Hassan Daud and representatives from leading associations and companies also attended the meeting.

Secretary to the Council, Executive Director General BoI, Fareena Mazhar briefed the members on the progress in SEZ’s and incentive packages under the industrial cooperation.



Cooperation between Pakistan and China entered a new phase as business-to-business interactions kicked off with an inaugural meeting of the CPEC business council on Friday.

This will provide a platform for regular consultation between the government and business community on matters related to private sector investments and push forward industrial cooperation under CPEC.

Federal Minister for Planning, Development and Reform Khusro Bakhtyar and Adviser to PM on Commerce Abdul Razak Dawood co-chaired the first meeting of the CPEC Business Council in Islamabad on Friday.






The planning minister said that the purpose behind establishing the forum is to create an interface between the government and business community and take forward the industrial cooperation between Pakistan and China.

Related: Pakistan receives $2.2 billion loan from China

“We want to address the trade imbalance, broaden market access for agricultural products and encourage B2B cooperation between the two countries,” he said.

Khusro said that the scope of CPEC has been expanded with a focus on industrial and agriculture cooperation, socio-economic development, trade and market access.

He expressed optimism on the creation of the CPEC Business Council saying that representation from the private sector will accelerate the pace of industrialisation under the umbrella of a mega project.

The minister said that the focus is to boost Pakistan’s industrial capacity through joint ventures in priority areas, relocation of labour-intensive export led industry, SME’s collaboration and enhancement of vocational training capacity.

Dawood said that after implementation of early harvest projects of energy and infrastructure under CPEC, the stage is now set to expedite industrial collaboration which will help attract private investments and diversify the country’s exports.

Related: Pakistan is China’s ‘iron brother’, says Chinese Foreign Minister Wang Yi

“We are in the second phase of CPEC where industrialisation and agriculture growth would be the main goals of the current regime. Special Economic Zones (SEZs) have been the engine of growth for many developing states around the world for the last few decades and it’s high time Pakistan convert its SEZs into growth hubs,” he said.

The adviser hoped that SEZs would attract investment from diversified sources because they offer a combination of tax-and-tariff incentives, streamlined customs procedures and less regulation.

Earlier, BOI Chairperson Haroon Sharif in his welcome address said that BOI will serve as the secretariat for the CPEC Business Council. He added that a dedicated team of professionals has been hired in this regard.

Planning Secretary Zafar Hasan, CPEC Project Director Hassan Daud and representatives from leading associations and companies also attended the meeting.