Pakistan, China sign 15 agreements on a range of bilateral issues

Pakistan, China sign 15 agreements on a range of bilateral issues

Pakistan, China sign 15 agreements on a range of bilateral issues

BEIJING: Prime Minister Imran Khan on Sunday said Pakistan seeks Chinese's cooperating in coping with white-collar crimes.

Moreover, Islamabad is also seeking its thirteenth bailout from the International Monetary Fund.

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

"We want to take benefit from China's experiences and aim to strengthen our institutions to subsequently control corruption", he said.

China has pledged more than $60 billion to Pakistan in the form of loans and investments for roads, ports, power plants and industrial parks.

Meanwhile, Khan's office said in a statement that the two governments had signed a number of agreements and memoranda of understanding in the fields of agriculture, poverty reduction, forestry, law enforcement and socio-economic development. The prime minister said he had watched other world leaders but the people of Pakistan were very impressed with the way China had progressed under President Xi.

China has given us an opportunity to attract investment.

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But both Pakistan and China played down those concerns Saturday, describing the programme as a key part of Islamabad's recovery plans.

Vice Foreign Minister Kong Xuanyou, who briefed the media after Li-Khan talks, said China will provide "necessary support" to Pakistan to tide over the present financial crisis but declined to reveal the amount. "Both sides reviewed the early phase of the CPEC and reaffirmed their complete consensus on the future trajectory of CPEC, timely completion of on-going projects and joint efforts for realization of its full potential", the statement added. "It gives us an opportunity to raise our standard of living, growth rate".

Thanking China for the love and affection extended to him on his visit, PM Imran said the love between Pakistan and China did not only exist on a state-to-state level but could also be witnessed on people-to-people basis.

Despite the questions raised, China has remained confident in the correctness of its approach to co-operation with Pakistan, with Foreign Ministry spokesman Lu Kang on Wednesday saying the economic corridor was a "mutually beneficial project between the two countries which plays an important role in improving people's livelihood and promoting economic development".

The CPEC is a crucial project under Chinese President Xi Jinping's One Belt One Road initiative or new Silk Road project, India has not yet agreed to join Belt and Road Initiative (BRI), citing the project does not respect other countries' territorial integrity and has put neighbouring countries under massive debt. "If there were, it would only be to increase [them], not decrease" he said. "The economic corridor project will certainly boost the local economy of Pakistan as it will create new jobs and inject cash into local communities", Cheng said.

Asked about the cooperation on counter-terrorism, Kong said: "all areas of cooperation have been covered and we also expressed positive wish for strengthening cooperation".

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