Pakistan and China have reaffirmed their iron-clad, all-weather partnership, agreeing to accelerate cooperation under CPEC 2.0 with its five new corridors. The understanding came during a “warm and friendly” meeting between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing on Thursday.
Strengthening Strategic Partnership
The leaders expressed satisfaction with the positive trajectory of bilateral ties and reiterated their resolve to further deepen their strategic cooperative partnership. Building on the consensus reached earlier with President Xi Jinping, both sides underscored the importance of the newly signed Joint Action Plan 2024–2029.
Prime Minister Shehbaz thanked China for its unwavering support for Pakistan’s sovereignty, territorial integrity, and socio-economic development. He praised China’s transformation under President Xi’s leadership, adding that Pakistan aspires to emulate these achievements while building a stronger Pakistan-China community with a shared future.
Economic Cooperation and Panda Bonds
Highlighting his government’s reform efforts, the Prime Minister announced Pakistan’s plan to float Panda Bonds in China’s capital market. He stressed the significance of the China-Pakistan Economic Corridor (CPEC) in driving Pakistan’s socio-economic growth over the last decade.
Both leaders agreed on the urgent need to advance key CPEC projects, including ML-I railway upgrade, KKH realignment, and Gwadar Port operationalisation.
Expanding B2B Partnerships
Shehbaz Sharif briefed Premier Li about the Pakistan-China B2B Investment Conference held earlier in the day, which brought together over 800 companies from both sides. He identified agriculture, minerals, textiles, IT, and the industrial sector as priority areas for mutually beneficial cooperation.
Multilateralism and Global Cooperation
The Prime Minister reiterated Pakistan’s support for President Xi’s flagship global initiatives, the Global Development, Global Security, Global Governance, and Global Civilisation Initiatives, calling them vital for inclusive growth and multilateralism.
Celebrating 75 Years of Ties
Both countries will mark the 75th anniversary of Pakistan-China diplomatic relations next year with special events. The two leaders also witnessed the signing of multiple MoUs covering cooperation in science, technology, IT, agriculture, media, and CPEC 2.0 development. The delegation-level talks concluded with a luncheon hosted by Premier Li in honour of Shehbaz Sharif and his delegation.
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