Pakistan and China have reaffirmed their commitment to strengthen bilateral cooperation under the upgraded China-Pakistan Economic Corridor (CPEC 2.0) during a pivotal meeting between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing. The upgraded framework includes five new corridors aimed at expanding economic collaboration. The leaders shared their satisfaction over the positive trajectory of Pakistan-China relations and underscored their united resolve to deepen their iron-clad, all-weather strategic partnership.
During the meeting, PM Shehbaz expressed gratitude to the Chinese leadership for their steadfast support of Pakistan’s sovereignty and socio-economic development. The summit also witnessed the exchange of multiple memorandums of understanding (MoUs) covering cooperation in areas such as technology, media, agriculture, and CPEC development. The leaders emphasized the importance of early implementation of vital projects like the ML-I railway upgrade, Karakoram Highway realignment, and the operationalization of the Gwadar Port to fully realize CPEC’s potential.
On the economic front, PM Shehbaz highlighted the successful Pakistan-China B2B Investment Conference, which brought together over 800 companies from both nations. He identified key sectors including agriculture, mining, textiles, IT, and the industrial sector as priorities for bolstering mutual economic collaboration. The Prime Minister also announced Pakistan’s plans to float Panda Bonds in the Chinese capital market, a move expected to further enhance economic ties.
Building on the consensus reached with Chinese President Xi Jinping, the two leaders reaffirmed their shared vision for a stronger Pakistan-China community with a shared future. PM Shehbaz expressed admiration for China’s transformative development under President Xi’s leadership and reiterated Pakistan’s support for key global initiatives promoting multilateralism, including the Global Governance, Development, Security, and Civilisation Initiatives.
