Pakistan and China Strengthen Ties with CPEC 2.0

Strengthening Ties: Pakistan and China Deepen Partnership under CPEC 2.0

Pakistan and China have taken significant steps to enhance their collaboration through the upgraded China-Pakistan Economic Corridor (CPEC 2.0). This initiative introduces five new development corridors, signaling a renewed focus on economic growth and regional connectivity. The recent meeting between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing underscored the strong relationship between the two nations and their shared commitment to mutual prosperity.

During the high-level talks, both leaders expressed satisfaction with the progress of their bilateral relationship. They reaffirmed their dedication to an "iron-clad partnership," emphasizing principles such as mutual respect, cooperation, and support for each other’s territorial integrity, sovereignty, and socio-economic development. This reaffirmation highlights the deep-rooted trust and strategic alignment between the two countries.

Prime Minister Shehbaz Sharif expressed gratitude for China's consistent support in Pakistan's economic reforms. He noted that his government's efforts are beginning to yield positive outcomes. Building on previous discussions with President Xi Jinping, he emphasized the need to accelerate key projects such as the Main Line-I (ML-I) railway, the Karakoram Highway (KKH) realignment, and the operations at Gwadar Port. Additionally, he praised China's transformation under President Xi's leadership, stating that Pakistan aims to follow similar paths to achieve development and prosperity.

On the economic front, the prime minister highlighted the crucial role CPEC has played in Pakistan's growth over the past decade. He called for stronger investment cooperation, identifying priority sectors such as agriculture, textiles, minerals, industry, and information technology. These areas represent opportunities for mutual benefit and long-term economic stability. Furthermore, Pakistan announced plans to issue Panda Bonds in China's capital market, aiming to strengthen financial ties between the two nations.

The B2B Investment Conference, which brought together over 800 companies from both countries, was also recognized as a positive step toward deeper collaboration. Such initiatives demonstrate the growing business engagement and commercial interests between Pakistan and China.

Beyond economic matters, the leaders reiterated their shared vision for multilateralism. Pakistan voiced its support for China's Global Governance, Development, Security, and Civilization Initiatives, acknowledging their significance for regional and global peace. They also agreed to celebrate the 75th anniversary of Pakistan-China diplomatic ties next year, further reinforcing cultural and political relations.

The meeting also witnessed the signing of several Memorandums of Understanding (MoUs) covering areas such as science, technology, IT, agriculture, media, and CPEC 2.0 cooperation. These agreements mark a significant milestone in strengthening long-term relations between the two countries. The signing of these MoUs reflects a collective effort to expand cooperation across various sectors.

The discussions concluded with a ceremonial luncheon hosted by Premier Li Qiang, symbolizing the warmth and friendship between Pakistan and China. This continued engagement underscores the determination of both nations to expand cooperation under CPEC 2.0 and beyond. As they move forward, the partnership between Pakistan and China is set to play a pivotal role in shaping the future of the region and beyond.