Pakistan Prime Minister Shahid Khaqan Abbasi has said that he sees the China-Pakistan Economic Corridor (CPEC) as the most visible part of the Belt and Road Initiative (BRI) and is a sign of strong bilateral relations between Islamabad and Beijing.
In an exclusive interview with Chinese journalist Zou Yue of China Global Television Network (CGTN), Abbasi said, "CPEC has benefitted Pakistan a lot. It is the visible part of BRI, as a part to push towards the West. It has improved connectivity. We are building 17,000 multi-lane motorways. We are building Special Economic Zones (SEZs). It is a positive move by both Pakistan and China."
He added that the Gwadar Port in Balochistan was operational and would provide access to Central Asia by sea, thereby enhancing connectivity.
Expressing concern on the fall of Pakistani rupee, Abbasi said, "The rupee needs to find its real value. There should be a correction in the value of rupee. We are in a growth phase."
He further said that Pakistan's economy has achieved 5 percent growth in the last two years and hoped that the economy would grow at 6 percent this year.
Talking about the recent decision by Pakistan's central bank to allow Chinese Yuan to be used for trade and investment activities, Abbasi added, "Pakistan's adoption of Yuan as the reserve currency would be very beneficial for bilateral trade. There was pressure on the US dollar reserve. It is a positive step for both Pakistan and China. It will help Yuan to become an international currency."
He said Islamabad shares extremely strong relations with Beijing, adding that both sides were being benefitted.
Abbasi is currently on a three-day visit to China to attend the Boao Forum for Asia (BFA) Summit.
He is also expected to hold a series of bilateral meetings with Chinese President Xi Jinping, Secretary-General of the United Nations Antonio Guterres, Chief Executive of Hong Kong Carrier Lam and Chairman of Alibaba, Jack Ma.
Abbasi is accompanied by Interior Minister Ahsan Iqbal, Foreign Minister Khawaja Asif and Federal Minister for Power Awais Ahmad Khan Leghari among others.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)