Pakistan, China partner to boost economy
In a step toward that ambition, an agreement was reached on Sunday between the Ministry of Planning and China's Development Research Center (DRC) to enhance economic cooperation.
The understanding was formalized during a meeting between Minister Ahsan Iqbal and Lu Hao, President of China's Development Research Center (DRC) and Center for International Knowledge on Development (CIKD).
Uraan Pakistan is a national initiative aimed at transforming Pakistan into one of the world's leading economies by prioritizing innovation, inclusivity, and sustainability. Guided by the 5Es Framework, it focuses on five critical areas: exports, digital transformation, environment and climate change, energy and infrastructure development, and equity and empowerment. The initiative seeks to diversify the economy and enhance Pakistan's global market position through export growth.
Through joint research, training programs, and expert exchanges, China will assist Pakistan in strengthening its economic foundations.
Hao expressed confidence in Pakistan's strategy to become an export-oriented economy.
"Strong economic cooperation between Pakistan and China is the key to national development," said Ahsan Iqbal.
"CPEC has transformed the everlasting friendship into an economic and social partnership beyond political cooperation," he stated.
Iqbal emphasized Pakistan's intent to draw lessons from China's economic growth and reforms. "Pakistan is eager to learn from China's economic and reform successes," he said. "China's scientific planning is a guiding light for long-term and sustainable economic development."
Speaking about the domestic economic outlook, Iqbal said the government's "Uraan Pakistan" initiative is aimed at stabilizing and growing the national economy. "Through the Uraan Pakistan program, the national economy is moving toward stability," he said. "The goal of 'Uraan Pakistan' is to make Pakistan a one-trillion-dollar economy by 2035," the Minister added.
He noted encouraging signs from the economic front. "International institutions are confirming the positive indicators of the Pakistani economy," he said. "The policy rate has decreased from 23% to 11%," he added.
Referring to market performance, the Minister stated, "The Pakistan Stock Exchange has surpassed 140,000 points."
Highlighting trade potential with China, Iqbal said, "China imports approximately $2 trillion annually, whereas Pakistan's share in it is extremely small." He stressed, "Pakistan wants to promote trade and exports with China."
He further said, "Gaining access to Chinese markets is an important economic objective."
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