Speakers on Wednesday unanimously blamed bureaucratic red tape for stalling economic cooperation between Pakistan and China as well progress at the regional level.
Prominent experts were addressing a conference on “Pakistan-China Economic Cooperation with focus on Thar Coal, Kashgar Special Economic Zone and Gwadar Sea Port.” The discussion was organised by Islamabad Policy Research Institute (IPRI), said a press release issued by IPRI.
The speakers said that while major projects took time to start and limped along through procedural delays, trade prospects dwindled on account of Pakistani private sector’s obsession with doing business only with the Western countries.
They maintained this was Asia’s century led by China’s principled policy of peace and economic development. By rejecting confrontational policies and pursuing peace, China had brought a change in the strategic climate of the region.
Senator Mushahid Hussain said that it was an important juncture as the region was in transition. He said a new leadership is taking over in China, elections are due in Pakistan and Afghanistan would be entering a new phase with the US troops exit next year.
He said China’s pursuit of peace had made it the leader of Asia and defeated the proponents of a new great game. He said there were immense prospects of economic cooperation between Pakistan and China but bureaucratic delays stood in the way.