The most significant aspect of the close friendship
between Pakistan and China, irrespective to the economic benefits on
the either side, is that the two countries never betrayed even at some
crucial moments. This immaculate trust is something, which can not be
Though China has played an important role in
providing technical support to put our economy on sound footings, yet
as the saying goes much wants more, much is still left to be desired
as far as the close relationship are concerned between the two
On the back of the economic growth taking place in
China, one may rightfully think that despite growing role of China in
building up the economy in Pakistan, it does not translate the actual
economic strength of China. However it also required the appetite and
thirst of an economy to ask for the economic support especially in the
field of transfer of technology.
Currently, over 31 Chinese Companies are engaged in
the field of oil and gas exploration, information technology, telecom
sector, Nuclear, Hydro and coal based power generation, Engineering,
automobile, Infrastructure and Mining sector.
In the financial sector, the coordination among the
two countries is almost nominal, and lately there was a move to
establish private sector banks both in China and Pakistan for
financing services to the growing volumes of the trade between the two
Apart from economic ties between the two countries,
the growing bilateral relations have provided a strong peg to the
foreign policy especially for peace in the region. The two countries
have a wavelength to address dramatic changes at regional global
arena. In fact, today's world is the world of competition, which
allows surviving only to the fittest. In order to face the challenges
of the global scenario especially after the implementation of WTO,
China has adopted wonderful policy of tolerance towards capitalism, as
it did not
Interfere in the economic policies of Hong Kong and
did not prove adamant for adopting any positive economic changes in
the system of that country. This is why the economy is growing day by
day and China has become the 6th largest economy of the world. The
story of success goes back to last 25 years since then it is
rebuilding and upgradit6ing the economic system and framework to
function more compatibly in the region and at the world forum.
Though China and Pakistan have achieved quite
fruitful results of their cooperation as resultantly, several Chinese
companies started some 218 projects in Pakistan with a total contract
value of $4.123 billion out of which 161 have already been completed
and a large number projects are under the pipeline.
The most strategic projects like Chasma-II, Gwadar
deep city port, gasification for power generation at Thar coal fields,
Copper and Zinc mines and the Gomal Zamdam are some of the valuable
projects which may address the most trying energy issues for Pakistan.
Early Harvest Program, is yet another significant
move between China and Pakistan which would help Pakistan to increase
exports and on 767 items all tariff bring at zero rated.
With the opportunity of China's significant success
in launching of special economic zone, Pakistan too can gain much from
It may be mentioned that initially china had set up
four special economic zones i.e. Shen Zhen, Shantau, Xiamen, Zhuhai
with 13 open coastal cities. These special economic zones have been
successful in attracting investors due to easy access of information
with greater foreign connection.
A large number of Hong Kong entrepreneurs relocated
their production facility to these zones and surely these industries
in the South of China will provide employment to five million people.
It is also predicted that China will be called as the "factory of
the world". Unlike, China, the export processing zone e in
Karachi is almost at the verse of collapse, if no immediate attention
was paid to adopt that new policies, law and strategies were adopted,
we should forget about the zone.
The Karachi export-processing zone was established
a decade ago with all facilities available elsewhere in the world.
However, it was the inefficient, lethargic and poor administration,
which convert the zone as a smuggling den. Duty free imports allowed
for the zone are frequently sneaked into the tariff area and the
so-called Pakistani investors are minting money, obviously not without
connivance of the people at the helm of affairs in the zone. We have
to apply the Chinese strategy to make the zone a success and may be
given to China on contract to make it a commercially viable project.
Despite of the snail pace growth and passive
policies, it is a matter of luck that China has recently shown
interest in setting up an oil refinery and a steel mill in Punjab and
mining marble and granite in NWFP besides and oil and gas exploration
activities in Pakistan.
Though Chinese have assured Pakistan that
development of relationship with other south Asian countries would
never be a detrimental to its relations with Pakistan, the fact
remains that today's policy makers of China are not the generation of
cold war era. The flood of Chinese products in international markets
all around the world reflects China's preferential policy of trade and
economic benefits over the social, ethical and moral concerns.