Pakistan, China vow to speed up ML-1 project while developing a sustainable and efficient plan for implementation.
In a joint statement issued by the Ministry of Foreign Affairs, China and Pakistan committed to refining and optimizing the construction plan for the Karachi-Hyderabad section of the ML-1 railway project, while developing sustainable and feasible plans for its financing and implementation.
Pakistan expressed its deep gratitude for China’s ongoing support in maintaining fiscal and financial stability. Both nations welcomed the extension of the China-Pakistan Bilateral Currency Swap Arrangement and agreed to further strengthen cooperation in the financial and banking sectors. They also pledged mutual support within regional and international multilateral financial platforms.
All Weather Strategic, Cooperative Partnership
The joint statement was released following Chinese Premier Li Qiang’s official visit to Pakistan from October 14 to 15, at the invitation of Prime Minister Shehbaz Sharif. During the visit, Premier Li held discussions with PM Sharif and met with President Asif Ali Zardari.
Both countries emphasized the resilience and strength of Pakistan-China relations, noting that their all-weather strategic cooperative partnership has deepened since President Xi Jinping’s landmark visit to Pakistan in 2015.
Following PM Shehbaz’s visit to China in June 2024, political trust between the two countries grew even stronger, with enhanced cooperation and closer strategic coordination, according to the statement.
The statement also praised Pakistan’s strong support for key initiatives championed by President Xi Jinping, including the Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative.
Both sides recognized the strategic significance of Pakistan-China relations in a rapidly changing global landscape, asserting that any attempt to disrupt or undermine their cooperation would fail. They agreed to maintain the momentum of high-level exchanges and bilateral relations. Pakistan also congratulated China on the 75th anniversary of the founding of the People’s Republic of China.
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