Pakistan to follow China's example to boost exports

Pakistani Prime Minister Shehbaz Sharif

On Friday, Pakistani Prime Minister Shehbaz Sharif articulated his government's strategy to tackle poverty and enhance exports by learning from China's remarkable achievements. In a statement released by the Prime Minister's Office, Sharif emphasized the importance of adopting China's methods to improve Pakistan's economic conditions and bolster foreign exchange reserves.

Learning from China’s Experience

Prime Minister Sharif highlighted China's success in lifting over 700 million people out of poverty as a model for Pakistan. He expressed a strong commitment to leveraging Chinese expertise in poverty eradication and export enhancement. By following China's lead, Pakistan aims to replicate these outcomes to benefit its own population.

Strengthening Bilateral Relations

Sharif underscored the deep and longstanding brotherly relations between Pakistan and China, which have grown stronger over time. He acknowledged China's consistent support during challenging times and conveyed gratitude on behalf of the Pakistani nation to the Chinese leadership and people.

Economic Cooperation and CPEC

The Prime Minister invited Chinese companies to establish industries in the Special Economic Zones (SEZs) being developed under the China-Pakistan Economic Corridor (CPEC) framework. Launched in 2013, CPEC is a flagship project of China’s Belt and Road Initiative, linking Gwadar Port in Pakistan’s Balochistan province with Kashgar in China’s Xinjiang Uygur Autonomous Region. This corridor focuses on energy, transport, and industrial cooperation.

Sharif emphasized that thorough preparations are being made for the new phase of CPEC, and its successful initiation will further strengthen economic ties between the two nations. The Prime Minister expressed confidence that this collaboration would significantly contribute to Pakistan's economic development.

Agricultural Modernization

As an agricultural country, Pakistan is keen on adopting modern Chinese techniques and technology to enhance productivity in the agricultural sector. Sharif pointed out that implementing these advanced methods is crucial for increasing yields and supporting Pakistan's agrarian economy.

Automotive Industry and Climate Change

Prime Minister Sharif also invited Chinese companies to establish plants for electric and hybrid vehicles in Pakistan. This initiative aligns with Pakistan’s goal of transitioning to electric vehicles (EVs) in the transportation sector, aiming to reduce the impacts of climate change. The shift to EVs is seen as a critical step towards sustainable development and environmental protection.

Prime Minister Shehbaz Sharif's remarks underscore a strategic vision for Pakistan’s economic future, leveraging the strong bilateral relationship with China. By adopting China’s successful strategies in poverty eradication and export enhancement, and by fostering industrial and technological cooperation under the CPEC framework, Pakistan aims to achieve significant economic growth and improve the livelihoods of its people.