China Pakistan Economic Corridor (CPEC)
With Pakistan decisively turning a page in its history by overcoming challenges of security and energy shortages, and now strongly heading towards achieving the goal of a highly developed economy, duly supported by well-planned industrialization which is harmonized to best utilize its natural endowments and human capital, its relationship with other countries play an important role in its growth and stability. China-Pakistan Economic Corridor (CPEC) is a model framework of regional connectivity and a substantial step towards economic cooperation between two brotherly nations in a highly interdependent and globalized world. As the flagship project of ‘Belt and Road initiative’, it will not only benefit Pakistan and China at the national and regional levels but will also offer opportunities for sub-national collaboration between different regions/provinces of both the countries through sharing of development experience, transfer of technology and industrial/infrastructure collaboration. In the broader sense it shall have a positive impact on all the regional partners including Iran, Afghanistan, India and Central Asian states.
With over 200 million inhabitants, Pakistan offers a strong consumer market and Punjab leads the way with a highest population and GDP share in the country. With expanding middle class duly supported by increased purchasing power and economic activity, Punjab emerges as the future investment hub of Pakistan. Punjab is bestowed with rich agriculture land, strong urban centers and connected with all other provinces through excellent rail, road and air network. It is strategically located at the crossroads of South Asia, Central Asia and West Asia and its close proximately with the Gulf renders Pakistan a promising regional hub and an important market for intra and inter-regional trade and investment.
The Government of Punjab, while being fully cognizant of the new global perspective of connectivity, collaborative development and mutuality of interests, considers cooperation with the regional and international partners as pivotal to the real growth. In order to realize the full potential of the Province′s demo/geographic strengths, Punjab is actively working for collaborating with the regional and international partners, especially China. The Government is primarily focused on efficiency-lead modernization through transfer of technology, modernization of infrastructure and introduction of thriving investment climate with the support of its Chinese counterparts to realize full benefits of China Pakistan Economic Corridor (CPEC) and its integration in our national and regional growth canvas.
PBIT in line with the vision of the Government of Punjab, is striving to develop close interaction with business, trade and policy making communities of China so as to highlight and advocate the real potential of the Province as the emerging investment and industrialization destination.
As part of its mandate, the China Cell offers comprehensive facilitation and guidance to the existing and the potential investors, entrepreneurs and businessmen from China to identify areas of economic activity and collaboration, both in the public and private sectors of Punjab. It also strives to harmonize the investment and other endeavors of Chinese investors with the overall growth strategy of the Province. As part of it outreach efforts It is also responsible for holding roadshows, seminars, expos and events
As part of PBIT′s team which represents Punjab in the Experts Group under the Joint Working Group on Industrial Cooperation under the CPEC framework, CPEC Cell also plays an active role in framing policy for industrial collaboration under the CPEC framework and development of specialized economic and export promotion zones in the Province. CPEC Cell is also part of many other initiatives of the Government of Punjab to support and promote active engagement between Punjab and several provinces of China.