Pakistan & China sign pact to promote cooperation for investment in Green Development:
Islamabad: A three-year pact is underway between China and Pakistan for the promotion of investment cooperation in Green Development.
This MOU will be stamped by the Ministry of Commerce China which is actively implementing China’s goal to be Carbon neutral by the year 2060. The Ministry will also be carrying out China’s 14th Five-year plan from 2021 to 2025 which will be concerned for the National Economic as well as the Social Development as well as their long-range objectives up until the year 2035.
This MOU is aimed at improving Business Cooperation in both countries in addition to the Practical foundation of strengthening the Green Development Plan.
In accordance with the proposed Draft of the MOU, the two parties will adhere to the green consensus and promote green development. They will take the Global Energy transition as an opportunity for stimulating the growth drives in green development, deepen the exchanges as well as cooperation in the Economy and clean energy, as well as promote the high-quality development of bilateral investment cooperation.
The parties will be enhancing synergy between green developmental strategies as well as the policies, industrial organization, encouraging local governments, financial institutions, and businesses that will enhance coordination.
These initiatives will help with tapping into the green development cooperation and jointly build the momentum of the cooperation for the future.
The parties will help encourage the businesses to conduct investment cooperation in green development including green energy schemes like wind power, photovoltaic, nuclear, hydrogen as well as biomass energy.
These parties will encourage businesses in compliance with the requirements of the United Nations Framework Convention on Climatic Change, the carbon-neutral commitment objectives, the Convention on Biological Diversity, fulfill environmental obligations, to promote green design, green production, green operation, and green procurement and lastly facilitate the coordinated development of the economy, society as well as the ecological environment.