Thu. Dec 3rd, 2020

China-Pakistan Economic Corridor to benefit entire region, Nawaz tells UN round-table

Islamabad: Prime Minister Muhammad Nawaz Sharif has stressed inter-state cooperation to put the region on the track of development and prosperity.

Addressing a Roundtable on South-South Cooperation, in New York, he said China-Pakistan Economic Corridor will bring huge economic and development benefits to entire region and beyond.

The Prime Minister said Pakistan considers South-South cooperation in trade, investment, human resource development, technology and financial resource generation in its interest.

He said strengthening of institutional support from the UN System will help maximize the impact of South-South cooperation.

The roundtable was held on the margins of the UN Sustainable Development Summit and the adoption of the 2030 Agenda for Sustainable Development.

The Prime Minister said the established principles and provisions of South-South Cooperation should continue to guide this collaborative framework.

He said this gathering had come at a pivotal moment and together, an enormous effort had been made to make the Post-2015 Development Agenda responsive to the challenges and aspirations.

Prime Minister said South-South trade flows had been enhanced tremendously as a consequence of trade liberalization and enhanced connectivity. He said Intra-South trade was now estimated to be over four trillion dollars and investment flows to developing countries were on the rise. They account for over 50 percent  of the global Foreign Direct Investment.

He said we are actively engaged with regional organizations, including SAARC, ECO, ACD, and the D-8 based on our vision to strengthen regional and economic integration. Via Radio Pakistan

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