Beijing:
Pakistan and China on Thursday bred bilateral agreements worth $ 8.5 billion in various sectors, with Prime Minister Shehbaz Sharif denoting development a “long march with economic growth”.
The Chinese and Pakistani companies have signed $ 7 billion Memoranda on understanding and 1.54 billion dollars joint ventures (a total of $ 8.5 billion) in sectors including agriculture, electric vehicles, solar energy, health, chemical and petrochemicals, ironing held in Beijing.
In his main address on the occasion, the prime minister said the “long march” would lead to the growth of huge opportunities for investment and job creation.
The Prime Minister revealed a new vision for Pakistan-China’s financial cooperation and announced the formal launch of “CPEC 2.0” which will attract investments in various sectors.
The Prime Minister, who welcomes High Level delegates, described the forum as a reflection of the iron -clad fraternity between Pakistan and China.
The Prime Minister, who addresses the concerns of bureaucratic delays, assured Chinese investors to remove all bureaucratic hiccups in investments. He issued a clear and direct message: “We will not tolerate a second delay. I recently made sure a Chinese entrepreneur was relieved within 24 hours. That’s the commitment I’m talking about.”
He reassured the Chinese delegation of Pakistan’s unwavering obligation to investor facilitation and said that Chinese investors will be treated as partners and that “Pakistan is your second home, just as China is ours.”
Security for Chinese citizens in Pakistan, he said was a highest priority, adding that Chinese citizens’ security is most important. “
“This is one of the biggest business conferences I’ve attended during my visit to this great country. Our relationship with China is unmatched, higher than the Himalayas, deeper than the deepest oceans, sweeter than honey and stronger than steel,” the prime minister said.
Referring to the China Pakistani Economic Corridor (CPEC) agreement signed in 2015 during President Xi Jinping’s historic visit to Pakistan, prime minister Shehbaz Sharif credited the first phase of CPEC to transform Pakistan’s energy and infrastructure landscape.
“We stood up to 20 hours of power outages daily. Today, thanks to President Xis Dynamic and Visionary Management, Pakistan Energi became self -sufficient. It was the turning point,” he noted.
PM Shehbaz Sharif announced the launch of CPEC 2.0, which will shift focus on business-to-business (B2B) investments in agriculture, IT and AI, minerals and industrial relocation.
“Our agricultural sector employs 60% of our population. China has distinguished itself in this area and we are looking for your partnership to modernize our agricultural practice and increase exports,” he called on Chinese investors.
He emphasized the role of special economic zones (SEZs) in attracting investments and offering competitive advantages as cheaper qualified labor and joint ventures to produce high quality export goods.
In an emotional segment of his speech, Prime Minister Shehbaz told his first visit to China in 1982.
“Even then, I said China is suffering from success, not failure. Today, China is the second largest economy and a global military power after lifting over 700 million people out of poverty. This is the model I want to borrow and replicate in Pakistan,” he said.
He praised President Xi Jinping’s leadership of promoting multilateralism and shared prosperity and said China has changed the fate of many nations, a testimony of its “visionary and dynamic leadership.”
In his closing remarks, Prime Minister Shehbaz Sharif repeated his willingness to transform Pakistan’s economic landscape. “We know the path is difficult but not impossible. With China’s support and our commitment, we will make Pakistan a strong and vibrant economy. Let today mark the beginning of that journey.”
Chinese and Pakistani investors, government officials and dignitaries, including Deputy Prime Minister Ishaq Dar, the ambassador of Pakistan to China Khalil Hashmi, and chairman of China Council for promoting international trade, federal ministers and others were present in the apartment.
Chinese Prime Minister
Pakistan and China, who expressed satisfaction over the positive track for their relationship, on Thursday agreed to continue working close to CPEC 2.0 with its five new corridors.
The bilateral ties and cooperation were discussed at a meeting between Prime Minister Sharif and Chinese Prime Minister Li Qiang.
During their “warm and friendly” meeting, the Prime Minister expressed his deepest gratitude to the Chinese leadership and nation of their unreasonable support for Pakistan’s territorial integrity, sovereignty and socio -economic development.
Based on the important consensus reached between President XI and the Prime Minister at their meeting on Tuesday, both leaders confirmed their joint decision to further strengthen the iron-clad, all-weather strategic cooperative partnership between Pakistan and China. The signing of the joint action plan 2024-2029 was considered an important step in this regard.
The Prime Minister congratulated the Chinese leadership with the successful hosting of the SCO Council for the State Summit in Tianjin and expanded his crime to China on the 80th anniversary of the Chinese people’s success in the opposition and the anti-fascist war of the world.
Prime Minister repeated Pakistan’s support for President XI’s landmark initiatives to strengthen multilateralism, including the Global Governance Initiative, Global Development Initiative, Global Security Initiative and Global Civilization Initiative.
Both countries celebrated the 75th anniversary of the creation of Pakistan-China diplomatic ties next year.
The two leaders also participated in the ceremony for the exchange of Memorandums for understanding and agreements signed and advertised between the two countries in terms of collaboration in the development of CPEC 2.0, science and technology, IT, media, agriculture, etc.
Lectures at the delegation level were followed by a lavish lunch hosted by the Chinese Prime Minister in honor of the Prime Minister and his delegation.
PM Assurance
PM SHARIF repeated on Thursday Pakistan’s vision to elaborate on bilateral cooperation with China in industries, agriculture, trade, ICT, mining and minerals.
He spoke with China’s Minister of Industry and Information Technology, Li Lecheng, who called him.
The Prime Minister considered China Pakistan Economic Corridor (CPEC) as the central pillar of Pakistan’s socio-economic development and expressed satisfaction over its constant progress in phase-II.
Minister Li, who admired the Prime Minister’s economic reform agenda, emphasized that China considered Pakistan an Ironclad brother and strategic partner throughout the weather.
He expressed China’s regular decision to raise the bilateral relations with Pakistan to new heights of cooperation and cooperation.
