BEIJING: Pakistan and China have agreed to work closely on the next phase of upgraded CPEC 2.0, featuring five new corridors. Highlighting the potential for business-to-business cooperation and investment.
Prime Minister Shehbaz Sharif briefed Chinese Premier Li Qiang on the B2B Investment Conference, which included over 300 Pakistani and 500 Chinese companies. He identified agriculture, mines and minerals, textiles, industry, and IT as priority sectors for mutually beneficial collaboration.
Shehbaz Sharif reaffirmed Pakistan’s support for President Xi Jinping’s initiatives to strengthen multilateralism, including the Global Governance, Global Development, Global Security, and Global Civilization Initiatives.
The countries will celebrate the 75th anniversary of Pakistan-China diplomatic relations next year. The leaders attended a ceremony marking the signing of MOUs and agreements covering CPEC 2.0, science and technology, IT, media, and agriculture.
In a warm meeting, both leaders expressed satisfaction with the positive trajectory of Pakistan-China relations. PM Shehbaz Sharif thanked China for its unwavering support for Pakistan’s territorial integrity, sovereignty, and socio-economic development.
Paying tribute to China’s transformation under President Xi Jinping, Shehbaz Sharif said Pakistan aimed to emulate China’s successes and build a closer Pakistan-China community with a shared future.
He noted that Pakistan’s reform efforts are yielding results, aided by China’s support, and announced plans to issue Panda Bonds in China.
On the economic front, he highlighted the China-Pakistan Economic Corridor (CPEC) as a major contributor to Pakistan’s development and stressed early implementation of ML-I, Karakoram Highway realignment, and Gwadar Port operationalization.
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