Revival of Silk Route

Lahore, December 24, 2014 (PPI-OT): “The Asian Infrastructure Investment Bank (AIIB), with an expected initial capital of US $50 billion, is also supporting China’s Silk Road initiatives”, it was stated by Mr. Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry (PCJCCI) while leading a discussion on significance of Silk Route with members of PCJCCI.

He said adding that the concept of Silk Route had emerged to become an important policy instrument on regional connectivity and regional integration. He was confident that Pakistan could turn into the most important westward artery by modernizing and reviving the silk route.

He said adding that the Silk Road Fund will be “open” and welcoming investors from Asia and beyond to “actively” take part in the project. The government of Pakistan should take immediate measures to up-grade the Silk Route to exploit the geographical potential of this location in regional trade.

”Pakistan’s geographical location supplements the potential of the Silk Route and augments scope of its revival”, Faisal Afridi said that the Silk Route has been a famous trade route in the ancient times, which proves that we have a long history of trade through this location.

He told that the Silk Road derived its name from the centuries-old trade of Chinese silk. Since the means of trade have been changed in the modern era, we too need to modernize the silk route so as to meet the changing requirements of the regional trade activities, he suggested.

According to Faisal Afridi , the Silk Road has been a useful source of connecting different regions and civilizations in the past, whereas, the new Silk Road should be designed to facilitate mutual trade, economic growth and prosperity among the connecting regions. The objective of the Silk Route initiatives should be to improve land and waterborne trade connectivity in Central Asia and South Asia through up-gradation of roads, railways, ports and airports, He added.

Afridi observed that the revival of Silk Route would bring a major breakthrough in socio-economic ties between Pakistan and China by enhancing the scope of people-to-people contacts between the two nations. Besides, the revival of Silk Route would be a big advantage to all those countries situated alongside economic belt of this route, which will ultimately add strategic and economic value to Pakistan, he added.

Faisal Afridi pointed out that China was investing billions of dollars for developing its western parts particularly Xinjiang connected with Pakistan’s border. Xinxiang’s special location at the heartland of Eurasia has assumed special importance for regional development through road infrastructure network, he added. President PCJCCI urged the government of Pakistan to realize that partnership in the Silk Route would entail a robust infrastructure, regular energy supply and improved governance.

He said that the government should promote regional coordination to introduce cohesive laws and regulations regarding movement of manpower and merchandize, taxation policies and tariff and non-tariff barriers. He emphasized to improve regional infrastructure for better connectivity by building better transport networks including roads, motorways, railways and air-links at Pakistan side as well.

For more information, contact:
Wardah Ali Gohar
Media Manager
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353
Fax: +92-42-35777524
Cell: +92-324-4925611

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