It turns out that CPEC project is now bearing fruits. Pakistan and China under CPEC project have collaborated and launched CPEC Consortium of Business Schools. The news was announced at a 2-day conference which was held at NUST ( National University of Science and Technology) by Pakistan’s HEC (Higher Education Commission).
The main aim of this partnership is to enhance and initiate academic collaboration between the two countries. Furthermore, the business schools participating in this CPEC Consortium will also contribute to resolving issues such as economics and management in Pakistan and China. It was also reported by media outlets that business schools will be given projects and tasks to assist the governments of respective countries in the development, operation and running of CPEC.
Chinese universities which are part of this CPEC Consortium include Fudan University, Hong Kong Polytechnic University, Nanjing University, Peking University, Shanghai Jiao Tong University, Tsinghua University, University of Science and Technology of China and Zhejiang University.
Pakistan institutions which are participating in this CPEC Consortium include, Balochistan University of Information Technology, Engineering and Management Sciences (BUITEMS), COMSATS Institute of Information Technology, Institute of Business Administration (IBA), Institute of Management Sciences (IMS), Lahore University of Management Sciences (LUMS), National University of Sciences and Technology (NUST), Pakistan Institute of Development Economics (PIDE), and University of the Punjab.
The meeting was attended by Interior minister of Pakistan Ahsan Iqbal as well as by China Association of Higher Education (CAHE) President Du Yubo.
While talking at the conference Ahsan Iqbal said, “The CPEC Consortium of Business Schools would prove to be another step forward towards successful execution of CPEC.” He also asserted that “China Pakistan Economic Corridor is a start of a new era in the region”.
- China-Pakistan Economic Corridor commonly known as CPEC is a joint venture of Pakistan and China to enhance economy and infrastructure of both countries. However, almost all the funding will be done by China.
- China will be spending almost $50 Billion in this project.
- Companies from both countries will collaborate to create new jobs opportunities and to enhance the business sector.
- It aims to expand and facilitate trade among these two countries.
- The undergoing projects in this corridor intend to upgrade infrastructure and bring foreign investment comprising of billions of dollars to Pakistan.
- Gwadar being the gateway to CPEC is highly valuable for Pakistan and that is why Pakistan and China have inked agreements and MoUs to make Gwadar an international smart port city.
- It is expected that CPEC will create 800,000 jobs in the country in the span of 15 years.
- New international seaway trade route through Pakistan has been opened under CPEC.
- Federal Government has announced a plan to establish 29 SEZs in all four provinces.