Beijing: Pakistani and Chinese authorities have finalised a Memorandum of Understanding (MoU) on industrial cooperation between the two countries, according to a news source. A cooperative framework for socioeconomic development was also drafted.
This MoU was concluded at the 8th meeting of the CPEC Joint Cooperation Committee (JCC), held in Beijing. It will cover coordination in various industries, such as textile, petrochemical, iron and steel mines, and minerals. The meeting was presided over by Federal Minister for Planning Makhdoom Khusro Bakhtiar and China’s National Development and Reform Commission (NDRC) Vice Chairman Ning Jizhe.
Bakhtiar reiterated that this industrial cooperation would attract investment in the Special Economic Zones (SEZs) and encourage Chinese companies to come to the region. Both sides agreed that work on the SEZs will be undertaken at a faster pace and in the next phase of CPEC, cooperation would be extended to the maritime, sector, port development, and automobile sector.
