New industries are popping up all over the world during what is an exciting time for technological development. The digital economy is well and truly booming, and countries are understandably looking to seize their opportunity. According to a Chinese dignitary, China is keen on helping Pakistan leapfrog its way to success in the midst of what can only be described as the “fourth industrial revolution”.
As reported by Bol News, These views were expressed by Dr Baige Zhao, vice chair of the 12th NPC Foreign Affairs Committee, chair of the Advisory Committee of BRI International Think Tank and RDI, through her messages to a webinar on Indo-Pacific (Quad) Accord and China Curtailment Policy of the US against BRI: Strategic Importance of CPEC for Regional Development, Peace and Security in collaboration with the Golden Ring Economic Forum (GREF) and ORIC-UMT.
To fully unlock the development potential of Pakistan’s geo-economy and take CPEC as the lead to shape the South Asian regional value chain, she highlighted the cooperation between China and Pakistan in the fields of energy, transportation, infrastructure and Gwadar Port construction in ‘Phase 1’ remains important and should be actively promoted to strengthen regional connectivity.
“There is still a huge demand in Pakistan’s infrastructure sector, including lack of ‘linking’ hubs between major rail and road trunk lines, which is key to resolving the Last Mile problem,” Dr Zhao noted.
Regarding the construction of CPEC, she underlined that Pakistan and China should focus on the interests of the two peoples, improve the livelihood of society and promote the wellbeing of the people.
“[The] cooperation between Chinese and Pakistani enterprises, especially private enterprises, is the soul and body of CPEC. I propose setting up a CPEC Enterprise Alliance, which would play an important role in the overall industrial import of Pakistan in the future,” she added.
Dr Zhao recommended that both parties strengthen policy communication and initiate sincere dialogue on how to improve the overall investment and business environment.