The 8th Joint Cooperation Commission (JCC) meeting on CPEC took place on 20 December in Beijing. This is the highest forum to review CPEC and to set future direction.
Planning Minister Khusro Bakhtyar, CM Sindh Murad Ali Shah, Chairperson BOI Haroon Sharif led from the Pakistan side along with all key provincial ministers and Secretaries.
One of the major development was signing of MoU on Industrial Cooperation between the two countries which takes CPEC in to phase two after infrastructure development including power projects.
The MoU focuses on transfer of emerging technologies to Pakistan in key sectors to improve export =competitiveness and job creation. Priority sectors include value added textile, agora based industry, mining, iron and steel and other as agreed in future.
BOI and NDRC will lead this phase. MoU was signed by Chairman BOI and Vice Chairman NDRC.
Both sides agreed to prioritise three to four economic zones. These include Rashakai (KPK), M3 Punjab and Dhabeji Sindh.
The MoU also facilitates relocation of feasible Chines industries to Pakistan
Major step towards giving momentum to CPEC through private sector investments.