China's openness key to help revive global economy amid pandemic: Pakistani official

ISLAMABAD -- China's policy of openness featured by the Belt and Road Initiative (BRI), as well as the concept of a community with a shared future for mankind, would be key to help revive global economy amid severe challenges posed by the COVID-19 pandemic, Chairman of the China-Pakistan Economic Corridor (CPEC) Authority Asim Saleem Bajwa said on Tuesday.

"At the time when the global economy is going through recession due to the pandemic and countries including the most developed are looking for the recovery, China is open to make BRI a joint venture of prosperity for the world," Bajwa said at a conference on the BRI convened by a Pakistan-based think tank the Sustainable Development Policy Institute.

The BRI and the concept of a community with a shared future for mankind have emerged as a beacon of hope and relief for the world, said the chairman, adding that China had already shown its intent of sharing prosperity well before COVID-19 by launching the China International Import Expo and inviting the whole world to export their products and commodities to China, and the same role can be played through CPEC in South Asia.

CPEC, a landmark project of BRI in Pakistan, has picked up pace in the past few months, and Pakistan is working to find new avenues for further strengthening its economic relations with China and expedite cooperation under CPEC, he said.

"The timely implementation of the project will not only help regional countries to recover fast from the COVID-19-related adverse impacts, but will also help fight poverty and build quality infrastructure as well as paving way for regional connectivity and sustainable peace," he said.

Talking about China's dual circulation economic development pattern and opportunities it offered to the world and Pakistan, Bajwa said it will bring special opportunities for Pakistan through CPEC, and the country has already started to learn and comprehend the pattern and its relevance for Pakistan.

"Under CPEC the industrial cooperation and supply chain inclusion will present new and special ways to benefit from the economic development style of China."