ISLAMABAD: Pakistan’s President Mamnoon Hussain has proposed setting up a Pakistan-Shanghai Cooperation Organization Trade Transit and Energy Corridor to address the regional energy needs and open new trade routes in context of the Belt and Road Initiative.

President Hussain, who is on a four-day visit to China where he will attend the 18th Meeting of the Council of Heads of States of Shanghai Cooperation Organization (SCO) member countries, in Qingdao, in Shandong province.

The president said Chinese President Xi Jinping’s vision of One Belt One Road, and its practical implementation in the China-Pakistan Economic Corridor, has equal benefits for both countries and their coming generations.

He made his comments at a reception, which was hosted by China-Pakistan Friendship Association and China International Cultural Communication Center in his honor, on Monday. Pakistan’s Foreign Secretary Tehmina Janjua also attended.

President Hussain told the gathering that Pakistan was now the leading destination for private infrastructure investment in South Asia, and was ranked fifth in the world.

“Our GDP growth last year was the highest in the past decade, which is remarkable in the face of global recession. Our success is founded on the steady supply of energy, investment in China-Pakistan Economic Corridor (CPEC), and remarkable progress in the agriculture sector,” he said.

According to the statement available with Arab News, President Hussain said that through CPEC, the road and railway network of Pakistan would connect the countries of the region via ports of Karachi and Gwadar to the rest of the world, particularly South Asia.

“Pakistan would welcome its Chinese brothers taking advantage of these grand opportunities to invest in textile manufacturing, infrastructure, petrochemical, steel, agro-based, mining and automobile industries for mutual benefit,” the statement said.

He added: “A favorable environment has been created in Pakistan in the past few years in the context of peace and security and investment.”

Pakistan considered the Belt and Road Initiative as one of this century’s flagship projects, the realization of the grand vision to connect countries of our region through land and sea routes.

“The great project would also guarantee regional peace and security and (it is to be) hoped that the SCO and its member countries will join us in completing this mission,” President Mamnoon said.

He added Pakistan can benefit from China’s constructive role.

Terming people-to-people contact as the basis of bilateral cooperation, he said more than 20,000 Pakistani young people were gaining education and skills in China.

To meet future requirements, the president proposed to establish the CPEC Universities Consortium to enable our people to learn each others’ languages, enhance student and teacher exchanges and joint research projects and start up a joint degree program.