China’s envoy reaffirms commitment to CPEC, Pakistan

KARACHI: Chinese Consul General in Karachi Yang Yundong said on Wednesday that China and Pakistan would overcome any challenges to their friendship and cooperation, especially on the China-Pakistan Economic Corridor (CPEC), a flagship project of the Belt and Road Initiative (BRI).

Yang made the remarks during a meeting with a 51-member delegation from the Pakistan Chemicals and Dyes Merchants Association (PCDMA) at the Chinese Consulate, the first time such a large group of Pakistani traders had been invited to the diplomatic mission.

"We have the confidence, determination, and capability to work together with Pakistan to overcome all difficulties and challenges, and to ensure that the development of our relations remains steady and moves forward in the long run," Yang said.

He praised the role of the PCDMA and the Pakistan Philatelic and Numismatics Forum (PPNF) in promoting bilateral trade and cultural exchanges, and expressed hope that they would expand the scope of cooperation and enhance people-to-people connectivity.

The envoy also noted that many members of the PCDMA had visited China and participated in Interdye Shanghai 2023, a major exhibition for the dyeing industry, after the pandemic, and had achieved satisfactory results.

He also highlighted China's economic achievements in the first half of this year, saying that China's economy grew by 5.5 percent year-on-year, significantly outpacing the 3 percent growth rate of last year. China's import and export volume exceeded 20 trillion yuan ($3.1 trillion), setting a new historical record for the same period and showing a year-on-year growth of 2.1 percent.

Yang attributed the achievements to the hard work of the Chinese people and the cooperation with foreign partners, among which Pakistani businessmen had made outstanding contributions.

"China has been Pakistan's largest trading partner for eight consecutive years, Pakistan's largest source of imports and second largest export destination, and Pakistan's largest source of foreign direct investment," he said.

He informed that in the financial year of 2023, Pakistan received $432.7 million of foreign direct investment from China, accounting for 30.09 percent of the total FDI coming to Pakistan. China continued to be the largest source of FDI in Pakistan.

He also mentioned some recent developments in bilateral trade and connectivity, such as Pakistan's seafood being transported by land along the CPEC from Karachi to Kashi in Xinjiang, China; Pakistan's exports of sugars and sugar confectionery crossing $18 million in the first half of 2023; and the launch of a direct flight between Islamabad and Urumqi by Air China.

Yang said these developments showed that CPEC had added new impetus to the economic and social development of Pakistan and laid a good foundation for regional connectivity and integration.

He said CPEC was a vivid testament to the all-weather friendship between China and Pakistan and provided an important underpinning for building an even closer China-Pakistan community with a shared future in the new era.

He said China was willing to work with Pakistan to adhere to high standards, sustainability, and benefiting the people, expand and deepen their industrial cooperation, including agriculture, manufacturing, and textiles, making CPEC an exemplary project for high-quality BRI cooperation.

He said CPEC had achieved a number of early harvests that had added new impetus to Pakistan's economic and social development and laid a good foundation for regional connectivity and integration.

Yang also acknowledged some challenges facing CPEC, such as attempts by certain forces to sow discord and smear the cooperation between the two countries, especially attacking and discrediting CPEC.

"No attempt to undermine China-Pakistan friendship and CPEC will succeed," he said. "China has the confidence, determination, and capability to work together with Pakistan to safeguard our common interests and ensure our common security."