Published: 17:27, May 25, 2024
PM: Pakistan to follow China's example to enhance exports
By Xinhua
Pakistani Prime Minister Shehbaz Sharif (right) speaks during an interview with Xinhua at the Prime Minister's Office in Islamabad, Pakistan, March 8, 2024. (PHOTO / XINHUA)

ISLAMABAD - Pakistani Prime Minister Shehbaz Sharif said on Friday that his country will learn from China's experience to eradicate poverty and enhance exports to increase foreign exchange reserves, the Prime Minister's Office said.

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In a meeting held in his office, Sharif said that China's success in lifting more than 700 million people out of poverty serves as a role model for Pakistan, the office said in a statement.

The prime minister encouraged Chinese companies to set up industries in Special Economic Zones being established under the framework of the China-Pakistan Economic Corridor

He added that Pakistan wants to benefit from China's experiences in increasing exports which will act as a major step to increase foreign exchange reserves and decrease poverty.

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"Pakistan and China share longstanding and deep brotherly relations which are strengthening over time," he said, adding that China has always helped Pakistan in difficult times, for which he, along with the entire nation, is grateful to the Chinese leadership and people.

The prime minister encouraged Chinese companies to set up industries in Special Economic Zones being established under the framework of the China-Pakistan Economic Corridor.

Launched in 2013, CPEC, a flagship project of the China-proposed Belt and Road Initiative, is a corridor linking Gwadar Port in southwest Pakistan's Balochistan province with Kashgar in northwest China's Xinjiang Uygur Autonomous Region, which highlights energy, transport and industrial cooperation.

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The prime minister said thorough preparations are being made for CPEC's new phase and its successful initiation will further strengthen economic relations between Pakistan and China.

The prime minister emphasized that Pakistan, being an agricultural country, is committed to adopting the modern techniques and technology of China in agriculture to increase productivity.

He also invited Chinese companies to set up plants for electric and hybrid vehicles in Pakistan to help the country achieve the goal of shifting to electric vehicles in the transportation sector to mitigate the impacts of climate change.