Pakistan and China focus on B2B cooperation in CPEC’s second phase

Federal Minister for Planning and Development Ahsan Iqbal, during his official visit to Beijing, held a series of high-level meetings with Chinese officials and companies to prepare for Prime Minister Shahbaz Sharif’s upcoming visit, the 14th Joint Cooperation Committee (JCC), and the next phase of the China-Pakistan Economic Corridor (CPEC). He emphasized a strategic shift from the $25 billion infrastructure-focused first phase to business-to-business collaboration, agricultural modernization, and industrial development to boost exports and job creation. Discussions also covered socio-economic initiatives, training 1,000 Pakistani agriculture experts in China, enhancing cooperation in peaceful nuclear technology, space exploration, and satellite-based disaster management, with Pakistan aiming to send its first astronaut to space in 2026. Ahsan Iqbal reaffirmed the “iron brotherhood” with China and highlighted plans for the September 4 Pakistan-China Business Conference in Beijing, expected to host over 450 companies for joint ventures in sectors including EVs, chemicals, IT, and solar energy.