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Pakistan, China Ink Multiple Agreements to Bolster Bilateral Cooperation

© Photo : X/@CMShehbazChinese President Xi Jinping meets with Pakistani Prime Minister Shehbaz Sharif in Beijing.
Chinese President Xi Jinping meets with Pakistani Prime Minister Shehbaz Sharif in Beijing. - Sputnik India, 1920, 09.06.2024
Pakistan and China are regarded as all-weather allies and the two sovereign states vowed to expand the "China-Pakistan All-Weather Strategic Cooperative Partnership" this weekend.
Pakistan and China have inked multiple agreements to bolster bilateral cooperation with a focus on boosting exports of Pakistani items to China, both nations announced in a joint statement on Sunday.
Among the areas that the two close allies will work together are agriculture, infrastructure, industrial cooperation, inter-governmental development assistance, market regulation, surveying and mapping, amongst others.
Besides, mining and offshore oil exploration will be a part of the thrust areas where Beijing and Islamabad would cooperate extensively.
"The Chinese side expressed its willingness to strengthen cooperation with Pakistan in such areas as offshore oil and gas resources, and natural gas hydrate. The Chinese side would encourage Chinese companies to actively participate in the development of offshore oil and gas blocks of Pakistan," the joint statement read.
Furthermore, the two nations renewed their commitment to projects linked to the China-Pakistan Economic Corridor (CPEC).
The CPEC features many infrastructure projects, including seaports, railways, and highways that have been built with Chinese assistance like the Gwadar Port and the Karakoram Highway.
Following the successful completion of the first phase of CPEC under the Belt and Road Initiative (BRI), the two sides are now looking to implement eight major steps to transform it into a "growth corridor."
"After the successful first decade of CPEC, the two sides are committed to carrying out the eight major steps for supporting high-quality Belt and Road cooperation, forging an 'upgraded version' of CPEC by jointly building a growth corridor, a livelihood-enhancing corridor, an innovation corridor, a green corridor and an open corridor, aligning with Pakistan’s 5Es Framework based on Exports, E-Pakistan, Environment, Energy, and Equity & Empowerment to better benefit the two countries and their peoples, working together to build CPEC into an exemplary project of high-quality building of Belt and Road cooperation," the joint statement highlighted.
PM Imran Khan met President Xi Jinping in Beijing, Feb 6, 2022  - Sputnik India, 1920, 02.06.2024
Business & Economy
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