5TH JOINT WORKING GROUP MEETING ON INDUSTRIAL COOPERATION

  1. Home
  2. Node
  3. 1425
  4. 5TH JOINT WORKING GROUP MEETING ON INDUSTRIAL COOPERATION
5th JWG
5TH JOINT WORKING GROUP MEETING ON INDUSTRIAL COOPERATION

Framework Agreement on CPEC Industrial Cooperation (IC) to Create New Avenues of Cooperation

 

  • The 5th meeting of Joint Working Group (JWG) on Industrial Cooperation (IC) under China Pakistan Economic Corridor (CPEC) was held via video conference on Tuesday, 15th December 2020.
  • A Framework Agreement is need of the hour for a measurable impact with regards to Industrial Cooperation, SEZs, Business to Business (B2B) and People to People (P2P) collaboration.
  • Elevation of the Memorandum of Understanding (MoU), on Industrial Cooperation (IC) between Pakistan and China, into a comprehensive framework would create new avenues for strengthening industrial cooperation under CPEC which is also open to third party participation
  • BOI appreciates the Chinese side for accepting the Draft Framework Agreement shared by the Pakistani side in early November 2020.
  • Early signing of the Framework Agreement on IC would help to achieve maximum objectives of CPEC in line with its Long-Term Plan.
  • Immense efforts have been ensured by the Pakistani side to devise the Draft Framework, taking all the provinces and other stakeholders on board and final approval of the Honorable Prime Minister was also obtained accordingly.
  • Pakistan highly regards the idea of Industrial Diagnosis by the Chinese side and extended its highest support to the group of experts from CIECC for the Textile Industrial Diagnosis last year.
  • The Industrial Diagnosis needs to be carried out in a joint manner involving experts from both sides who may submit the Diagnosis Report to the JWG along with an Action Plan that would be imperative for the respective industrial sector.
  • The Chinese side appreciated the idea of joint industrial diagnostic studies followed by an action plan.
  • The Chinese side to arrange industrial visits of Pakistani delegations to provide them with firsthand experience of successful industrial models in China.
  • Rashakai, Dhabeji, Alama Iqbal Industrial City and Bostan SEZs under CPEC, the revival project of Pakistan Steel Mill, China Pakistan Young Workers Exchange and Cooperation, and Karachi Coastal Comprehensive Development Zone.