Pak-China sign Framework Agreement on Industrial Cooperation

Pakistan and China have signed the much awaited Framework Agreement on Industrial Cooperation under CPEC.

During the recent visit of Prime Minister, Imran Khan to Beijing, he held held a one-on-one meeting with the Chairman National Development and Reform Commission (NDRC), He Lifeng. After the meeting Board of Investment (BOI), Pakistan, and the, NDRC signed the Framework Agreement on Industrial Cooperation under the CPEC. Minister of State and Chairman BOI, Muhammad Azfar Ahsan and He Lifeng, chairman NDRC were the signatories of the agreement.

The agreement reaffirms the prioritised development and operations of the nine CPEC SEZs, with primary focus on the early completion of Rashakai SEZ in KP, Allama Iqbal Industrial City in Punjab, Dhabeji SEZ in Sindh, and Bostan SEZ in Balochistan. For colonisation of these SEZs, business-to-business matchmaking mechanism of Pakistani and Chinese enterprises has also been emphasised, which will proliferate the people-to-people and institution-to-institution linkages.

The agreement holds a paramount significance for CPEC Phase II and its future course of action and development.