Pakistan and China are “All Weather Strategic Cooperative Partners”， iron brothers and closest neighbours. Both countries enjoy wide-ranging engagements in political， economic and cultural spheres. Our ties are not only based on convergence of bilateral interests but are also rooted in common experiences of past； cultural affinity； mutual trust and understanding. In the New Era of bilateral friendship， the two countries have progressively expanded and deepened the scope and breadth of their ties， especially in the realm of trade and investment and people-to-people exchanges.

In recent years， a special focus has been placed on cementing bilateral trade and economic ties and elevating them at par with excellent political relationship. Pakistans multifaceted cooperation with China has been revitalized with the launch of China Pakistan Economic Corridor（CPEC）， a pilot project of president Xi Jinpings Belt and Road Initiative （BRI）. CPEC is a transformational project which has ushered in a new era of progress and prosperity in the country. Under its broad rubric， many projects have been completed in the various sectors ofpakistans economy including transport and communication network， power generation， ICT and Gwadar Port development.

In the Phase-II， CPEC has further expanded its coverage to many areas of socio-economic development including industrial and agriculture development， science and technology cooperation and poverty alleviation programme. The Phase-II of CPEC is synergized with the government of Pakistans development agenda which is people-centric and aims to create jobs and improve the livelihood of the people in the country. Under Phase-II， nine Special Economic Zones （SEZs） are being set up along the route for which Pakistan is offering attractive incentives and tax concessions.

The Rashakai SEZ in Khyber Pakhtunkhwa Province will soon be ready for investors while we are in the process of finalizing similar SEZs in other provinces too. Government of Pakistan has devised special incentives package to attract more Chinese investment in the SEZs and would welcome Chinese investors and entrepreneurs to benefit from these new opportunities in our textile， automobile， agro-industry， agricultural machinery， food processing and ICT industries.

In recent years， China has become the largest FDI investor in Pakistan. During the last five years， Chinas accumulative FDI into Pakistan has exceeded US$ 4 billion. In 2019-20， the FDI from China amounted to USD 844 million， accounting for one-third of the total FDI. Many Chinese companies， both the SOEs and private entexprises， have demonstrated keen interest to invest in Pakistan. The result of Chinese investment has been profound and productive. It has not only provided jobs but also helped elevate Pakistans profile as a preferred destination for investment from other countries too.

With a total trade of USD 18 billion， China is also Pakistans largest trading partner. The second phase of China-Pakistan Free Trade Agreement （CPFTA） which took effect from January 1， 2020 has increased products coverage for trade liberalization from 35% to 75%.

Now nearly one thousand products enjoy zero tariffs in the respective markets providing further impetus to the trade relations.

Year 2021 is a special occasion as Pakistan and China are celebrating the 70th anniversary of establishment of our diplomatic ties. I look forward to a more robust， inclusive and allencompassing relations between our two countries which would not only serve the best interest of our two countries but would also ensure peace， stability and prosperity in the entire region. In this regard， I would like to appreciate the CCPIT for its endeavours to deepen Pakistan-China trade and investment cooperation. I am confident that the CCPIT would keep playing its leading role and encourage more Chinese companies to consider Pakistan as a preferred destination for trade， investment and economic cooperation.