Beijing – Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang reaffirmed their resolve on Thursday to accelerate work on the second phase of the China-Pakistan Economic Corridor (CPEC), in what the Pakistani premier described as their “most productive” meeting.
Strengthening Strategic Ties
Pakistan and China’s strategic partnership spans trade, defence, energy, and infrastructure. During his six-day visit to China, where he attended the Shanghai Cooperation Organisation (SCO) summit, PM Shehbaz stressed the importance of further deepening bilateral cooperation.
Both leaders agreed to push forward CPEC 2.0 with five new corridors, enhancing connectivity and boosting Pakistan’s socio-economic development. The prime minister highlighted CPEC’s “significant contribution” to Pakistan over the past decade and pressed for the swift execution of major projects such as ML-1 railway, Karakoram Highway realignment, and the Gwadar Port operationalisation.
Expanding Economic Cooperation
PM Shehbaz invited Chinese companies to expand their investments in Pakistan, particularly in information technology, agriculture, textiles, minerals, and industry.
At the Pakistan-China Business-to-Business (B2B) Investment Conference, more than 300 Pakistani and 500 Chinese firms explored new avenues of collaboration. The prime minister underscored agriculture, mining, textiles, industry, and IT as priority areas for future cooperation.
He also announced Pakistan’s plan to issue Panda Bonds in the Chinese capital market, aiming to strengthen financial integration between the two nations.
Acknowledging China’s Support
Shehbaz Sharif expressed deep gratitude to Chinese leadership and the people of China for their unwavering support in safeguarding Pakistan’s territorial integrity, sovereignty, and economic stability.
China recently rolled over $3.4 billion in loans to Pakistan, helping bolster Islamabad’s foreign exchange reserves. The signing of the Joint Action Plan 2024–2029 was hailed as a milestone for expanding bilateral cooperation.
Shared Vision for the Future
Both premiers reiterated their commitment to President Xi Jinping’s initiatives – the Global Governance Initiative, Global Development Initiative, Global Security Initiative, and Global Civilisation Initiative.
PM Shehbaz emphasized that Pakistan’s reform agenda aligns closely with President Xi’s vision, reaffirming the goal of building a stronger Pakistan-China community with a shared future.
He also pointed to Pakistan’s efforts to strengthen educational ties, with 1,000 agriculture graduates currently training in China and over 30,000 Pakistani students pursuing studies there.
Looking Ahead
The talks concluded with the signing of MoUs covering CPEC 2.0, science and technology, IT, media, and agriculture. The leaders also looked forward to celebrating the 75th anniversary of Pak-China diplomatic relations next year.
Premier Li hosted a luncheon in honour of PM Shehbaz and his delegation, underscoring the warmth and strength of the bilateral partnership.
