Pakistan & China Agree to Expand the Scope of CPEC

Pakistan and China have agreed to expand cooperation in China Pakistan Economic Corridor (CPEC) to some new areas. These areas of cooperation will be in line with the vision of the new leadership of Pakistan. A Chinese delegation, that recently visited Pakistan, was led by the Vice Foreign Minister, Kong Xuanyou, while the Foreign Secretary Tehmina Janjua filled in for Pakistan. In the first round of diplomatic dialogue, foreign relations representatives agreed to increase the cooperation status between the countries. ALSO READ China to Provide Multiple Bailout Packages Instead of Cash to Pakistan While the agreement between the heads of governments was the base for the project, it was decided that the scope of the China-Pakistan Economic Corridor (CPEC) will be expanded. Besides, steps to push ongoing projects towards completion, collaboration in industries such as paints and coating industry was also anticipated. A Chinese Company, specializing in manufacturing global export quality paint for buildings, furniture and automobile, has expressed interest in collaborating with local manufacturers in Pakistan. This will lead to investment through partnership in the paint and coating industry of the country. ALSO READ PM Imran’s Foreign Visits Cost 5 Times Less Than Nawaz Sharif’s One Trip “We are an international chemicals supplier and our company intends to explore business and investment opportunities in paint and coating industry in Pakistan as the country has become an important investment destination for the Chinese businessmen and entrepreneurs after launch of multi-billion China Pakistan Economic Corridor (CPEC) framework,” Li Xing Xinong, founder of Hunan Banfert New Materials Technology told a state-owned newswire.