Vienna, May 30 (TNS): Sardar Masood Khan, President Azad Jammu and Kashmir has said that Pakistan will soon become destination for logistical chains, trade and investments.
The President made these remarks while addressing a seminar titled “ Pakistan’s New Role Between China and Europe; Opportunities and Challenges of China’s Silk Road Project” organized by the Austrian Institute for European and Security Policy (AIES) which was hosted by Dr. Werner Fasslabend, Former Defense Minister and President of AIES.
Explaining the scope of the the China-Pakistan Economic Corridor (CPEC) and Belt and Road Initiative (BRI), the President said that this is an unprecedented transcontinental project spanning Asia, Europe and Africa aiming for global connectivity and economic prosperity.
With massive potential, he said, this initiative covers 68 countries with plans to invest over US $ 1 trillion in infrastructure, energy, and industrial projects.
Underlining the importance of the European Union, President Masood Khan said that EU’s market of 460 million people, as well as the EU’s treasure trove of technology and knowhow, makes it imperative that modern connectivity channels are established. He said that investments in Europe by China in energy, telecommunication, real estate sector and similarly Europe’s investment in industrial and services sectors in China have created mutual dependencies.
President AJK said that the China-Pakistan Economic Corridor is the flagship project and an offshoot of the BRI, thereby any role Pakistan can or will play between Europe and China will be within the framework of the BRI and CPEC combined. He added that both the BRI and CPEC are a conscious effort to reach out to Europe which will bring Europe closer to Chinese markets.
CPEC, said the President, is not just a stand-alone project. It is developed into a network for connecting East Asia, South Asia, Central, West, and Southwest Asia. He added that now many regional and extra-regional states are showing interest in it and has already attracted the attention of Russia, Turkey, Italy, France and the UK and several other European countries are already consulting with Pakistan and China to participate in CPEC projects. The Gwadar Port, in particular, he said, will give Russia access to warm waters via Central Asia for international trade, helping begin a new phase of cooperation between Russia and Pakistan.
President Masood Khan said that concerted joint investments by Europe, Pakistan and China under the umbrella of CPEC would create huge opportunities for livelihoods, businesses and human development. In this context, he added, it will build bridges between Europe and China, Europe and Asia, he said, adding that Pakistan will play a pivotal part in this process.
