2018年CRI China and Pakistan pledge to cooperate in green economy

The latest China Beijing International Fair for Trade in Services has concluded.

On Friday, a forum 1 was held to discuss further cooperation in green economic development between China and Pakistan.

CRI's Victor Ning has more.

The "China-Pakistan Economic Corridor" Green Investment and Cooperation Conference aims to explore ways to gain high quality economic growth in the two countries' investment cooperation.

Since the China-Pakistan Economic Corridor, or CPEC, was launched in 2013, a large number of Chinese companies have invested in Pakistan's business and financial sectors 2.

The CPEC has since become a flagship program under the China-proposed Belt and Road Initiative.

Now the Chinese authorities are calling on businesses involved in the CPEC to put a greater emphasis on green development.

Zhang Wei, Deputy Director of the Chinese Academy of International Trade and Economic Cooperation, says that the Chinese government has issued a number of regulations and guidelines on environmental protection for Chinese funded companies overseas.

She says Chinese companies in Pakistan need to focus on sustainable development by balancing economy, the environment and society.

"In fact, many developing countries now attach great importance to environmental protection and sustainable development. And today's business cooperation in the international community requires the Belt and Road spirit of achieving shared growth through discussion and collaboration 3. Thus raising awareness 5 for green and sustainable development has already become a key issue for Chinese companies going overseas."

Zhang also says it is a cooperation priority of Belt and Road Initiative for the involved countries to promote ecological 6 concepts in investment and trade, as well as strengthen collaboration in protecting ecological environment and coping with climate change.

At the forum, Shaikh Muhammad Shariq, Chief Representative of the National Bank of Pakistan, is applauding the Chinese authorities' advocacy to enhance ecological awareness in the two countries' cooperation.

He says he hopes more Chinese companies will expand their operations into diverse sectors in Pakistan.

He says except energy and infrastructure 7, there are many other sectors with investment potential in his country.

"Fish is one of the major potential export commodities of Pakistan. It already has a huge potential. Then we can see IT. And there can be other sectors like textile, retail 8, automation, financial services."

Shariq says Pakistan has many advantages in market size, labor 4 force and consumption ability, which are attractive for investors 9 from China.

He says he hopes that more state-owned and private Chinese companies will come to Pakistan.

The bank representative has also pledged to provide financial services for Chinese companies that are interested in operating in Pakistan.

For CRI, I'm Victor Ning.