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ISLAMABAD, Sep 14 (APP): Former President of the SAARC Chamber of Commerce and Industry Iftikhar Ali Malik on Sunday expressed hope that the $8.5 billion worth of accords signed during Prime Minister recent visit to China will further strengthen bilateral trade and strategic relations between the two countries.
He said the signed Memorandums of Understanding (MoUs) would pave the way for a new era of cooperation under the second phase of the China-Pakistan Economic Corridor (CPEC), which he termed as a cornerstone of Pakistan’s economic future, said a news release.
He stressed that Pakistan’s private sector, particularly in trade and industry, must adopt a proactive approach to fully capitalize on these accords by enhancing exports, integrating modern technologies, and improving competitiveness.
“Pakistan can substantially increase its export base by diversifying products and aligning with Chinese value chains,” Malik added.
He urged policymakers to ensure transparency, efficiency, and continuity in implementing the agreements, emphasizing that successful execution would restore investor confidence and accelerate economic development.
Iftikhar said that the accords would open new avenues for regional cooperation, as enhanced infrastructure and connectivity under CPEC would facilitate trade with Central Asia, Afghanistan, and beyond.
He highlighted China’s consistent support for Pakistan during challenging times, stating that the new commitments would significantly improve connectivity, infrastructure, energy, and industrial cooperation.
“These accords reflect the confidence of the Chinese leadership and investors in Pakistan’s economic resilience and potential, despite global challenges,” he said.
Malik underlined that the new phase of CPEC would prioritize the development of special economic zones, agricultural modernization, industrial relocation, and skill development, which would not only generate employment opportunities but also contribute to sustainable economic growth.
Concluding, he said the MoUs marked a significant step forward in consolidating Pak-China relations and laying a strong foundation for shared prosperity and regional stability.
