Prime Minister Shehbaz Sharif expressed confidence that the next phase of the China-Pakistan Economic Corridor (CPEC) would further strengthen the strategic partnership between the two countries. This was emphasized during his participation in the Pakistan-China Friendship and Business event in Beijing, organized by the Pakistan Embassy in China, the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), and the China International Cultural Communication Center (CICCC).
The event brought together senior members of the prime minister’s delegation and a diverse group of prominent Chinese dignitaries, officials, academics, think-tank experts, and businesspersons. Prime Minister Shehbaz Sharif used this platform to underscore the potential for mutual economic growth through CPEC, a key component of Pakistan’s economic reform agenda. He highlighted it as a success story of mutually beneficial bilateral cooperation and a catalyst for Pakistan’s economic development, aiming to instill a sense of optimism and excitement in our Chinese partners.
Furthermore, the prime minister urged Chinese investors and businesspersons to recognize the strategic importance of the investment opportunities in Pakistan. With the establishment of the Special Investment Facilitation Council (SIFC) offering a single-window solution to international investors, their participation is crucial. He called for practical and mutually beneficial cooperation in priority areas such as mining, information and communication technology (ICT), and agriculture, emphasizing their integral role in our strategic partnership.
Additionally, Prime Minister Shehbaz Sharif stressed the shared values and goals of Pakistan and China, such as multilateralism and international law for international peace, security, and development. He acknowledged China’s cooperative approach and dialogue with developing countries for common understanding and shared prosperity, aiming to foster a sense of camaraderie and shared purpose among our Chinese partners.
During his meeting with the Chairman of China International Cooperation Agency (CIDCA) Ambassador Luo Zhaohui, Prime Minister Shehbaz Sharif appreciated the robust support of CIDCA for CPEC projects and Pakistan’s socioeconomic development. The establishment of Pakistan-China Friendship Hospital, Desalination Plant in Gwadar, and the New Gwadar International Airport were specifically highlighted as examples of CIDCA’s support.
Emphasizing the ironclad friendship between Pakistan and China, the prime minister and CIDCA chairman expressed confidence that the next phase of CPEC would continue to improve the lives and livelihoods of the people, paving the way for ongoing cooperation and mutual benefit.
Furthermore, several Memorandums of Understanding (MoUs) were signed between Pakistan’s Board of Investment (BoI) and various Chinese entities, aiming to enhance bilateral cooperation in agriculture, labor-intensive manufacturing industry, digital economy, green economy, and logistics ecosystem. The signing ceremony was witnessed by Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, accompanying Prime Minister Shehbaz Sharif on his visit to China.
In a separate meeting with China Exim Bank President Dr. Wu Fulin, Prime Minister Shehbaz Sharif highlighted Pakistan’s efforts to improve governance, increase the tax net, and ensure ease of doing business to attract foreign direct investment (FDI). He noted the positive impact of reform measures, including controlled inflation in the food sector, narrowing of the current account deficit, and sustainable levels of public debt.
