In a significant development, Pakistan and China forged deeper ties by signing six crucial documents to enhance bilateral cooperation. These agreements lay the groundwork for embarking on the second phase of the China-Pakistan Economic Corridor (CPEC) with a fresh approach.
Milestones in Cooperation
The signing ceremony, held at the PM House, was graced by the presence of Prime Minister Shehbaz Sharif and Chinese Vice-Premier He Lifeng. During the event, key agreements were inked, including one on the joint cooperation committee for CPEC. Additionally, a Memorandum of Understanding (MoU) was established to create an export exchange mechanism within the framework of CPEC, along with a protocol for the export of dry chilies from Pakistan to China, and a document presenting the final report on the feasibility study of realigning KKH Phase-II.
Expanding Collaborative Endeavors
Beyond these agreements, both nations sealed an MoU on the industrial workers exchange program through diplomatic channels. Furthermore, the minutes of the 21st conference of a technical committee to promote the strategic ML-1 project were also signed, further solidifying their cooperative efforts.
Prime Minister’s Optimistic Vision
Addressing the gathering at the signing ceremony, Prime Minister Shehbaz expressed delight over the successful conclusion of these agreements. He extended gratitude to Chinese Vice-Premier He Lifeng for commemorating a decade of CPEC by visiting Pakistan.
“Today, we can proudly assert that CPEC has attracted over $25 billion in investments for power, roads, hydel power, and public transport. As we embark on the second phase, we have signed critical documents that will augment cooperation and implement CPEC’s next phase through an innovative model,” said the PM.
Prime Minister Shehbaz elaborated on the second phase of CPEC, which will focus on facilitating business-to-business investments in agriculture and information technology. This endeavor aims to enable Pakistan to meet Chinese standards and requirements while exporting its products.
