Prime Minister Shehbaz Sharif’s visit to China concluded with the signing of agreements and memorandums of understanding (MoUs) worth $8.5 billion, marking a major step forward in strengthening Pakistan-China economic ties.
Agreements worth $1.5bn signed
During the visit, Pakistani and Chinese companies signed agreements valued at $1.5 billion. These agreements are expected to enhance bilateral trade, investment, and industrial collaboration across multiple sectors.
The PM highlighted the importance of these agreements in building long-term economic partnerships between the two countries.
MoUs worth $7bn agreed upon
In addition to formal agreements, both sides signed MoUs worth $7 billion. These MoUs cover a wide range of development and investment projects aimed at boosting Pakistan’s economic growth and infrastructure development.
Prime Minister Shehbaz Sharif emphasised that a system has been established to implement the MoUs and agreements, ensuring transparency and accountability in execution.
PM’s commitment to achieving goals
Addressing a farewell ceremony at the end of his visit, PM Shehbaz reaffirmed Pakistan’s commitment to achieving the objectives outlined in the agreements.
“We will make every effort to achieve the goals,” Shehbaz Sharif said, expressing optimism that the new arrangements would bring tangible benefits to both nations.
Also Read: Pakistan, China agree on CPEC phase 2 and new corridors
On Thursday, Prime Minister Shehbaz Sharif’s visit to China entered a new phase of cooperation as he met his Chinese counterpart, Li Qiang, in Beijing. The two leaders expressed satisfaction over positive progress in bilateral relations and signed multiple agreements to expand collaboration under the China-Pakistan Economic Corridor (CPEC) Phase 2.
The meeting featured detailed discussions at the delegation level, followed by the signing of memorandums of understanding and agreements. Both sides agreed to work together on five new economic corridors under CPEC.
The priority sectors identified include agriculture, mining and minerals, textiles, industry, and information technology. Cooperation in science, technology, IT, media, and agriculture was further strengthened with agreements signed in the presence of both prime ministers.
Strengthening strategic partnership
The two leaders reaffirmed their resolve to reinforce the all-weather strategic cooperative partnership. A joint action plan was signed, which was described as an important step toward enhancing mutual cooperation.
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Prime Minister Shehbaz Sharif expressed heartfelt gratitude to the Chinese leadership and people for their unwavering support of Pakistan’s regional integrity, sovereignty, and socio-economic development. He emphasized that the positive results of Pakistan’s reform agenda were possible only with China’s consistent backing.
Economic initiatives and connectivity projects
During the talks, the prime minister highlighted Pakistan’s intent to soon issue Panda Bonds in the Chinese capital market. He also stressed the need for early implementation of key connectivity projects, including the re-alignment of the Karakoram Highway, the upgrade of Main Line-1 railway, and the operationalization of Gwadar Port.
Shehbaz Sharif pointed to the vast opportunities for business-to-business cooperation and foreign investment. He briefed his Chinese counterpart about the upcoming investment conference in Beijing, where over 300 Pakistani and 500 Chinese companies are expected to participate.
Following the discussions, Chinese Premier Li Qiang hosted a luncheon in honour of Prime Minister Shehbaz Sharif and his delegation. The event underscored the commitment of both countries to carry forward their shared vision of economic progress and strategic cooperation.
