Rawalpindi: The projects under the China-Pakistan Economic Corridor (CPEC) mainly in energy sector and infrastructure development at Gwadar port have been completed and are near completion and it has set a strong foundation for second phase of CPEC, i.e. Development of Special Economic Zones (SEZ), strengthening trade and cultural ties through joint ventures and exchange of delegations.

These remarks were made by Chinese Ambassador to Pakistan Yao Jing while addressing the ceremony to mark 70th anniversary of People’s Republic of China at the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Monday.

Yao Jing said that ‘CPEC’ is a unique model of connectivity, trade and development which is an important part of the Belt and Road initiative.”

The Chinese envoy said that private sector should come forward and play its due role for strengthening trade linkages between the two countries and suggested that while connecting trade ties Pakistan can play a role of bridge between East and West under CPEC.

The special economic zone’s development has already entered an important phase and the efforts are underway to ensure successful Pakistan-China industrial cooperation.

China has granted free excess on export of 313 items and consolidation of second phase of China Pakistan Free Trade agreement will increase Pakistan’s exports by tapping the potential in agriculture, textile, food, minerals, engineering and other sectors, he remarked.

He lauded RCCI role in promoting trade ties between the two countries and said that Chinese embassy will provide full support and cooperation while increasing partnership with Chinese trade agency and RCCI.

Yao Jing added that China and Pakistan are not only friendly neighbours but also two major ancient civilizations that have maintained close ties in cultural exchanges and mutual learning.

Since the establishment of diplomatic relations in 1951, the two countries have made great efforts to promote cultural exchanges and cooperation.

Earlier, RCCI President Malik Shahid Saleem said that people to people contact and exchange of delegations are imperative to increase the trade ties between the two countries. He appreciated and thanked Chinese embassy role and cooperation in this regard. CPEC being unique project, can only be capitalized once joint ventures will be made in different sectors, he added.

Former President Sohail Altaf thanked ambassador for China’s categorical stance on Kashmir and showing support to Pakistan.