ISLAMABAD: Pakistan is looking to turn its long-running partnership with China into a new engine for investment, industrial expansion and employment as the second phase of the China-Pakistan Economic Corridor (CPEC) gains momentum, Prime Minister Shehbaz Sharif said at a ceremony marking China’s national anniversary.
The next stage of CPEC is expected to move beyond major infrastructure projects and focus more heavily on industries and sectors capable of generating economic activity, creating jobs and expanding business opportunities across Pakistan.
Shehbaz Sharif reaffirmed Islamabad’s commitment to strengthening ties with Beijing, calling the relationship “excellent” and describing China as Pakistan’s “iron brother.”
Speaking at the ceremony marking the 77th anniversary of the founding of the People’s Republic of China, Shehbaz Sharif said work on CPEC’s second phase was progressing and could play an important role in Pakistan’s economic development.
The new phase is expected to give greater attention to industrial development, agriculture, information technology, science and technology, energy and Gwadar, with the port city envisioned as a key regional trade and commercial center.
The shift could bring a stronger focus on production, private investment, technology transfer and employment rather than infrastructure alone. Shehbaz Sharif pointed to China’s rapid economic and technological progress under President Xi Jinping, congratulating the Chinese leadership and people.
He said the relationship between Islamabad and Beijing had remained strong through changing circumstances and was rooted in mutual trust, cooperation and shared development goals. CPEC’s first phase helped expand Pakistan’s infrastructure network, while the second phase is expected to place greater emphasis on industrial activity and economic output.
For Pakistan’s young population, the shift could create opportunities in skilled employment, technology, entrepreneurship and emerging industries if new projects translate into sustained investment and local economic activity.
Chinese Ambassador Jiang Zaidong said Pakistan and China were also marking 75 years of diplomatic relations, calling the anniversary a reflection of the durability of their bilateral partnership.
Jiang described the two countries as “all-weather strategic cooperative partners” and said Beijing would continue supporting Pakistan on issues involving their core national interests.
The ambassador welcomed improvements in Pakistan’s economic conditions and recognized government efforts to stabilize the economy. He also praised Pakistan’s contribution to regional peace and stability.
The ambassador said Pakistan has championed multilateralism and international cooperation, playing a vital role in safeguarding peace and security within the region and beyond.
He said Prime Minister Shehbaz Sharif vigorously defended Pakistan's national interests during his address to the 81st session of the United Nations General Assembly, where Pakistan's position on international and regional issues was appreciated by the global community.
Jiang said there was significant potential for expanding cooperation in trade, investment, technology and people-to-people exchanges.
The ceremony was also attended by Deputy Prime Minister Ishaq Dar, National Assembly Speaker Sardar Ayaz Sadiq, federal ministers, diplomats and senior government officials.
