Khalil Hashmi Represents Pakistan at 9th Belt and Road Summit in Hong Kong

KARACHI: The 9th Belt and Road Summit held in Hong Kong recently brought together leaders from around the world to discuss the future of the Belt and Road Initiative (BRI). This year's theme, “Building a Connected, Innovative, and Green Belt and Road,” highlights the importance of global partnerships and sustainable development. The summit serves as a platform for international leaders, business representatives, and industry experts to share insights and strategies that can leverage Hong Kong's unique strengths in fostering economic growth.

Pakistan's Ambassador to China, Khalil Hashmi, played a significant role in representing Pakistan at this important event. He emphasized how the China-Pakistan Economic Corridor (CPEC) has dramatically transformed Pakistan's economic landscape over the past decade. According to the Ambassador, CPEC has not only created numerous job opportunities but has also added an impressive 8,000 megawatts (MW) to the national power grid. Additionally, the project has facilitated the development of 800 kilometers of road networks and transmission lines, which are crucial for enhancing connectivity and trade.

Looking ahead, Ambassador Hashmi shared insights into the next phase of CPEC, which is set to evolve into a multidimensional corridor. This new phase will focus on growth, innovation, and inclusiveness, aligning with Pakistan's “5Es” strategy. This strategy emphasizes key areas such as exports, digital transformation, climate change, energy, and equity, all of which are vital for the country's sustainable development.

One of the highlights of the Ambassador's address was Pakistan's rapidly growing Information Technology (IT) sector. He noted that the sector is expanding quickly, supported by an increasing number of internet users and cellular connections. This growth presents a golden opportunity for Hong Kong-based firms to tap into Pakistan's fintech sector, which, although still in its early stages, offers substantial potential for innovative financial solutions. The Ambassador pointed out that while the demand for such solutions is on the rise, fintech startups in Pakistan are in need of venture capital investments, which Hong Kong is well-positioned to provide.

Furthermore, Ambassador Hashmi reiterated Pakistan's commitment to sourcing 30% of its energy from renewable sources by the year 2030. This ambitious goal reflects the country's dedication to sustainable energy practices and its efforts to combat climate change.

The 9th Belt and Road Summit not only showcased the progress made through initiatives like CPEC but also highlighted the potential for future collaborations. As countries work together to build a more connected and sustainable world, the opportunities for growth and innovation are boundless. For Pakistan, the focus on technology and renewable energy could pave the way for a brighter economic future, benefiting not just the nation but also its partners in the global arena.