Both the sides agreed to expedite work by promoting joint ventures and exports-led growth under the CPEC by declaring 2019 as "Year of Industrial, Socioeconomic and Agriculture Cooperation."
Khusro Bakhtiar highlighted that Pakistan can become an ideal destination for investment in different sectors. He said that Ministry of Planning would facilitate Chinese investors looking for opportunities under the CPEC as well as create a pull effect. He highlighted that the government is working over the policies that will improve ease of doing business.
The minister said that the first meeting of the Joint Working Group (JWG) on socio-economic development is a major milestone and that the action plan discussed therein will support uplift of the less developed areas. Pakistani side has already forwarded an invitation letter to China for visit of the experts' team.
"Both the sides will work out for speedy implementation of initiatives in already identified six areas including agriculture, education, medical treatment, poverty alleviation, water supply and vocational training projects." he added.
The minister hoped that the JWG on agriculture meeting, scheduled for 15th February this year, would provide an opportunity to broaden the CPEC cooperation. He emphasised that Chinese investors should explore investment opportunities in agriculture sector of Pakistan for input supplies as well as food production, processing, logistics, marketing and exports in a vertically integrated way on their own or in joint ventures (B2B) with Pakistani companies.
Both the sides agreed to ensure that this year Gwadar projects such as new international airport, hospital and vocational institutes will hit ground within three months as the projects are beneficial for local population, they will gain the support and trust of the local population.
Yao Jing appreciated that 8th Joint Cooperation Committee (JCC) meeting held successfully in a cordial atmosphere where all deliverables were achieved, adding that the scope of the cooperation was expanded to new avenues.
Khusro Bakhtiar said that an MoU on industrial cooperation signed during 8th JCC provided a framework to promote communication on key industries such as textile, petrochemical and iron & steel. It encourages Chinese investors to relocate and explore opportunities of investment in Pakistan.
Yao Jing appreciated the efforts of government of Pakistan for facilitating Chinese investors and informed that a large number of Chinese investors would visit Pakistan soon that would further strengthen the bond of economic and bilateral cooperation.