Arooj Zulfiqar

In the wake of China's “two sessions,” significant insights have emerged into China's strategies to foster development while ensuring national security. These deliberations carry profound implications for China's strategic partners, including Pakistan, as they seek to align their policies with its trajectory, reports WealthPK. China is demonstrating its commitment to addressing the emerging challenges by doubling down on its efforts to advance development goals and security imperatives. The aim is to effectively prevent and address the risks across critical sectors. Talking to WealthPK, Senior Advisor and Research Fellow at the Sustainable Development Policy Institute (SDPI) Dr Hassan Daud Butt said the impact of China's efforts to ensure development and security was not confined to its borders and could have transformative effects on other countries' economic outlook, including Pakistan. He said the Chinese leaders emphasized the crucial significance of maintaining a balance between the development objectives and security concerns. This two-pronged approach highlights China's dedication to fostering economic growth and social stability concurrently.

“For Pakistan, these insights hold particular significance. With deep-rooted economic and strategic ties between the two countries, Pakistan stands to benefit from aligning its developmental goals with China's overarching vision. “The relationship between China and Pakistan extends beyond mere economic cooperation, encompassing shared security interests and a mutual commitment to regional stability. Upon examining the key takeaways from the “two sessions,” Pakistan can learn valuable lessons in fostering stability, particularly political stability, along with prioritizing rural development and security imperatives. Dr Daud said concerted focus on rural development was essential to uplift the marginalized communities and bridge socio-economic disparities, mirroring China's successful rural revitalization efforts. Moreover, bolstering security measures is imperative to safeguard Pakistan's territorial integrity and counter internal and external threats.

By aligning with China's development and security paradigms, Pakistan can navigate toward a more prosperous and secure future, leveraging shared experiences and collaboration for mutual benefit. Talking to WealthPK, Humayun Iqbal Shami, CEO of Pakistan Economic Forum, said China’s initiatives to ensure development and security encompass a multifaceted approach aimed at fostering sustainable growth while safeguarding national interests. He said, “Pakistan stands to benefit significantly from these efforts. China's projects under the BRI and CPEC offer Pakistan opportunities to enhance connectivity, boost trade, and stimulate economic growth. “Closer collaboration with China in intelligence sharing, counterterrorism operations, and capacity building can help Pakistan address the security challenges effectively. Trade agreements and investment from China can help Pakistan diversify its export base, attract investment, and improve economic resilience.”

Humayun said collaboration with Chinese firms could help Pakistan acquire knowledge in areas such as renewable energy, digital infrastructure, and high-tech industries, boosting its technological development. Pakistan can benefit from its role as a hub for regional connectivity, promoting trade, energy transit, and economic cooperation between China, South Asia, and the Middle East. He said Pakistan's economic growth was heavily dependent on attracting foreign investment. However, ensuring safety and security was equally crucial to fostering a conducive environment for startups. Without adequate measures, investor confidence dwindles, hindering both foreign and domestic investment. “Investors assess various risks, with security concerns being the top priority. Political instability and social unrest can deter investment. Therefore, Pakistan must strengthen law enforcement, enhance surveillance, and address socio-economic challenges,” he said.

INPCredit: INP-WealthPk