Sunday
25 February | 2024

Lahore, Pakistan

Pakistan says BRI enriches concept of economic integration, interconnection

Chen Changzhi suggests strengthen connectivity and deepen practical cooperation; He Zhenwei points out well-being of people of all countries

Pakistan’s Ambassador to China Moin ul Haque has said that the Belt and Road Initiative (BRI) has largely shaped the structure of the global economy and trade, and it has completely changed and enriched the concept of regional economic integration and interconnection.

Addressing the 13th China Overseas Investment Fair in Beijing, he said that the initiative has successfully overturned some suspicions and doubts among members of the international community, and based on the principle of win-win cooperation and mutual benefit, it has built a bridge of trade, business and cultural cooperation among members of society.

Under BRI, Pakistan has laid 880 kilometers of road networks in the past 10 years, 13 new energy projects have been put into operation, and more than 8,000 megawatts of electricity have been added to the national grid. Despite impact of COVID-19 epidemic and the challenges of economic recession and natural disasters, the timetable was achieved and the projects in Pakistan were completed on time, he noted.

‘Belt and Road Initiative has built a bridge of trade, business and cultural cooperation based on principle of win-win cooperation and mutual benefit’
‘Belt and Road Initiative has built a bridge of trade, business and cultural cooperation based on principle of win-win cooperation and mutual benefit’

“We should strengthen connectivity and deepen practical cooperation, facing accelerated evolution of the century-old changes and new situation of instability, uncertainty and severe challenges to globalization,” said Chen Changzhi, vice chairman of the Standing Committee of the twelfth National People’s Congress. He said that this connectivity was important for the economies of various countries and to maintain regional stability.

“In the face of anti-globalization moves and an uncertain and unpredictable complex international environment, we need to focus on the well-being of the people of all countries, while continuing and deepening practical cooperation in fields of infrastructure, the green and low-carbon economy, and the digital economy,” said He Zhenwei, president of the China Overseas Development Association.

In the past decade, China has signed more than 200 documents with 151 countries and 32 international organizations, forming more than 3,000 cooperation projects, according to local and foreign media reports. The initiative has stimulated an investment scale of over $1 trillion, created 420,000 jobs for countries along the route, and lifted more than 40 million people out of poverty.

Ambassador of Ethiopia to China Tefera Derbew Yimam said that what China presents to them was a very sincere friendship, and China also supports the common development and prosperity of Africa. Through BRI, China and Ethiopia have realized interconnection in trade, investment, culture and civilization, which is a model for the world, he said. “We are looking forward to seeing a further deepening of cooperation between China and Africa.”

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