February 9, 2022 (MLN): Adviser to PM of Pakistan for Commerce and Investment Abdul Razak Dawood on Tuesday said that signing of the Framework Agreement on Industrial Cooperation between Pakistan and China is a breakthrough for CPEC Phase II.
In his tweet, he said that it is a significant outcome of the PM’s visit to China as the agreement will augment the process of B2B collaboration and matchmaking and pave the way for industrial relocation from China and export-led growth with numerous direct/indirect benefits to the economy.
To recall, Pakistan and China on Friday inked the framework agreement on industrial cooperation under the CPEC.
The industrial cooperation agreement is a key part of what is being called “phase two” of CPEC. The first phase mainly involved Chinese investments in energy projects as well as road infrastructure.
The framework will promote industrialization and development of economic zones, and initiate, plan, execute, and monitor public and private sector projects.
