President FPCCI Abdul Rauf Alam has said that China-Pakistan Economic Corridor (CPEC) project is a game changer and the most popular project in the history of Pakistan which is being taken very seriously by Pakistan Government and the Army.
"We are highly grateful to the Chinese leadership who preferred Pakistani over other nations for the fate-changing project," he added.
Chairman co-ordination FPCCI, Malik Sohail Hussain told Business Recorder that Abdul Rauf Alam was speaking at Silk Road expo and conference at ancient Chinese city of Xi'an in which over one hundred thousand businessmen, diplomats and around 6,250 companies participated.
He said Silk route exists since 2000 years and it has connected millions of people across Asia, Africa and Europe and helped transfer of knowledge, art, education and culture. The route was there since ancient times, but it gained new prominence during Tang Dynasty with Xi'an as its capital, where this important event is taking place.
Now Chinese leadership is modernising the route which will unleash a new era of progress and prosperity which is evident from bilateral trade worth US $999 billion in 2016 with countries linked to the Silk route.
Modern transportation networks have replaced the old transport on the Silk Road, allowing goods to travel across the Eurasian continent in days or hours, he noted.
Abdul Rauf Alam said, Pak-China trade has reached US $18 billion and after Federal Trade Agreement will increase soon, while Pakistan will earn billions in transit fee and improved international image. He added that all reservations over the CPEC project among elements in Pakistan and other countries are unfounded.
He said around 80 to 85 per cent oil reaches China through Strait of Malacca while the same strait is used for trade with Europe, Middle East and Africa but the same trade, through Pakistan will not only reduce route by six thousand nautical kilometres but also ensure quality of the goods.
He said, China is almost an economic and military power and Pakistan is considered its most trustworthy ally.
Thanks to the Silk Road expo, we have opened our eyes to see the huge business potential while a lot is yet to be discovered, he said.
During the expo 108 contracts worth US $28 billion were signed between Chinese and foreign companies.