Pakistani province looks to China for investment

Sha Zukang, former United Nations under-secretary-general for the department of economic and social affairs and chairman of China-Pakistan Friendship Association, addresses the opening ceremony of the China-Khyber Pukhtunkhwa economic cooperation road show in Beijing on April 17, 2017. Photo provided to chinadaily.com.cn

Officials from Pakistan, China's long-time friend and important partner in the Belt and Road Initiative, have come to Beijing to host a two-day economic cooperation road show seeking cross-border trade and investment from their neighbor.

The China-Khyber Pukhtunkhwa (KP province) economic cooperation road show, held from 17-18 April in Beijing and attended by high-level Pakistani officials and around 400 state-owned and private enterprises in China, is aimed at promoting the KP province to potential Chinese investors under the China-Pakistan Economic Corridor (CPEC). It's the Pakistani province's first road show in China and 11 MOUs on mutual cooperation were signed during the opening ceremony.

The China-Pakistan Economic Corridor, as a flagship project of the Belt and Road Initiative, plays a pivotal role in leading the initiative, according to Sha Zukang, former United Nations under-secretary-general for the department of economic and social affairs and chairman of China-Pakistan Friendship Association, who addressed the opening ceremony of the road show.

"The CPEC will push forward social and economic development of both countries. It's mutual, not just Pakistan getting assistance from China. And it will benefit nearly 300 million people in China and South Asian countries," Sha said.

He also pointed out that as of yet, state-own enterprises contributed the most investment in Pakistan, while private companies cannot find a convenient channel due to lack of experience and access.

"I hope that we show support to private companies and help them get familiar with the investment and construction in Pakistan," Sha said.

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