Pakistan gets high benefits of BRI initiative

BEIJING: Pakistan is among the top, taking benefit of the Belt and Road’s initiative (BRI), as the trade and business activities have taken major jump in the recent years at the bilateral and regional level, officials said here.

The China-Pakistan Economic corridor (CPCE) that is the pilot and major project of the BRI paves the way strengthening the two countries’ socio-economic partnership in almost all areas of bilateral interest.

Last year, trade volume between China and countries along the Belt and Road including Pakistan amounted to $1.1 trillion, up 14.8 percent year-on-year, which is 3.4 percentage points higher than the growth of the country’s total foreign trade, said Chinese Minister of Commerce Zhong Shan.

The Belt and Road initiative, proposed by Chinese President Xi Jinping in 2013, refers to building a Silk Road Economic Belt and the 21st Century Maritime Silk Road.

Over the past five years, the initiative has been positively echoed by over 140 countries and regions, and fruitful cooperation achievements have been yielded under its framework, Zhong told the press conference held on the sidelines of the first session of the 13th National People’s Congress.

Praising a more diversified investment portfolio, the minister said that China has altogether invested over $60 billion to on-route countries in various sectors such as agriculture, manufacturing and infrastructure. —