Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Tuesday called for stronger business-to-business cooperation between Pakistan and China, emphasizing that the second phase of the China-Pakistan Economic Corridor (CPEC 2.0) is focusing on industrial development, export growth, technology transfer and greater private-sector investment.
The minister was speaking during a meeting with a business delegation from Xinjiang, China, led by H.E. Yuan Jianmin, Senior Advisor to the Xinjiang Government.
Highlighting the historic partnership between Pakistan and China, Ahsan Iqbal said Xinjiang held a special place in bilateral relations, with the shared border, people-to-people contacts and the Karakoram Highway serving as enduring symbols of friendship and connectivity. He emphasized that both countries must remove barriers to trade and strengthen business linkages to make CPEC 2.0 even more successful than its first phase.
Recalling CPEC’s achievements, the minister said that an agreement signed in July 2013 had been transformed into more than $25 billion in investment within five years. He noted that Chinese investment in power generation, adding around 8,000 megawatts of capacity, had helped Pakistan overcome severe energy shortages and supported the country’s economic transformation.
He said CPEC 2.0 would prioritize industrial cooperation, mobilization of Pakistan’s private sector, mining and minerals, information technology, advanced technologies and educational exchanges. Emphasizing the importance of export-led growth, he said that an additional $7 billion in exports over the next three years could help Pakistan strengthen its economy, generate employment and reduce its reliance on external financial assistance.
Ahsan Iqbal urged Chinese investors to establish manufacturing facilities in Pakistan and use the country as a production and export hub for regional and international markets. He emphasized that deeper industrial cooperation and export-oriented investment would help Pakistan move towards higher-value production, create employment opportunities and strengthen its export base under CPEC 2.0.
H.E. Yuan Jianmin praised Ahsan Iqbal’s longstanding contribution to Pakistan-China economic cooperation, describing him as the torch bearer of CPEC in recognition of his pivotal role in advancing the flagship project. Recalling their first meeting in May 2013, he acknowledged the minister’s trust, encouragement and consistent support for CPEC and bilateral cooperation.
Yuan Jianmin highlighted opportunities to expand cross-border trade through the Khunjerab Pass, establish a China-Pakistan border trade market and increase Pakistani exports to China. He also identified investment opportunities for Chinese companies in manufacturing, new energy, artificial intelligence and advanced technologies, expressing confidence that CPEC 2.0 would deliver substantial results under the leadership of both countries.
The meeting reaffirmed the shared commitment to translating the longstanding Pakistan-China friendship into stronger commercial partnerships, increased trade and mutually beneficial investment.
