Pakistani delegation in China to finalise modalities for economic cooperation

Lifestyle       by Bushra Nayeem | Published

As per details, the two sides noted with satisfaction that the China Pakistan Economic Corridor's first stage, which comprised of infrastructure and energy sector improvements, has nearly been completed.

Discussions will also be held pertaining to Pakistan-made products' access to the Chinese markets, the sources said. So the immediate balance of payments crisis of Pakistan has ended.

About the outcome of Khan's visit, Hua said, "we believe his visit is very successful". He had also said that no other country had tackled poverty and corruption the way China did.

Asked for her reaction to Umar's comments and how much China has offered to Pakistan, foreign ministry spokesperson Hua Chunying said Beijing would provide assistant to the best of its capacity but did not specify the amount.

He said that the talks were not limited to a financial package, but also encompassed long-term partnership and investment with China.


Pakistan's foreign reserves have plunged 42 percent since the start of the year and now stand at about $8 billion, or less than two months of import cover.

Earlier reports from Pakistan said Beijing has committed a similar amount during Khan's visit but Chinese officials declined to confirm it. The two sides agreed to firmly advance the China-Pakistan Economic Corridor (CPEC), set up the task force on social and livelihood projects to constantly enrich and expand the CPEC.

The planning minister stressed the need for accelerating industrial cooperation, and said it had been chose to advance to the next phase with a focus on industrial expansion, agricultural revitalisation and trade integration between the two economies.

To a question, the spokesperson further said at the weekly news briefing, "China and Pakistan are all-weather strategic partners, and the relationship between the two countries has been running at a high level".

Dawood concluded the press conference, saying he was planning to declare one of the existing industrial zones as prioritised Special Economic Zone (SEZ) under CPEC to fast-track the pace of relocation of Chinese industries to Pakistan.

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