CPEC enters phase 2: PCJCCI

LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Wednesday said that CPEC after successful completion of early harvest phase has now entered into the second phase with focus on industrial cooperation, trade, agriculture and socio-economic development.

Presiding over a think tank of the joint chamber, PCJCCI President Moazzam Ghurki observed that increase in trade; investment and financial flows would bring peace and prosperity to the region through enhanced competition reducing regional disparities and social inequality.

Currently, 22 projects are undergoing fast implementation, higher in pace in comparison with any other corridor of the BRI initiative, making CPEC the central corridor of the initiative. Through Belt and Road forum participating states should promote intergovernmental cooperation, build intergovernmental mechanisms based on shared interests, trust and consensus.

PCJCCI Senior Vice President Fang Yulong said that Belt and Road Initiative reflects the far-sighted economic vision that is opening gateways of cooperation among the countries along the route. Connectivity, at the heart of Belt and Road, is primarily about linking the region to the world through economic belts to facilitate people to people interaction. He also said that Pakistan is actively engaged in the initiative and its flagship project, CPEC, is progressing in the right direction.