Pakistan's PM Visit of China

The bilateral Relations of China-Pak: what is new in their mutual cooperation? Pakistan and China have close ties with China. The recent visit of Pakistan PM Imran Khan was marked as a significant visit. Pakistan has been working closely with China for decades, this visit will conclude with six major mutual cooperation agreements in a different sector. China-Pakistan Economic Corridor (CPEC) is an ongoing project between two countries. The other name for the project is One belt one Road (OBOR) to improve bilateral trade. The investors of China took a keen interest in Pakistan for their products and services. Pakistan also considers China as a major partner at the international level.

The key sectors of discussion are the economic Corridor under CPEC, shifting of major industries to Pakistan, agriculture, and information and technology. Pakistan was assisted by China to control the spread of Covid-19 and timely provided vaccines. China has invested up to $25 billion in Pakistan. The CPEC projects are creating roughly 80,000 jobs along with generating 5500MW of electricity. China is also Pakistan building infrastructure including the 500km of roads as part of different projects. President Xi Jinping’s Belt and Road Initiative (BRI) has helped Pakistan to become self-sufficient in the economic sector.

Pakistan is also hoping to get $3 billion in loans to sustain its economy and achieve steady growth and increase the investment in the country by encouraging foreign investors to invest in Pakistan. The investment in multiple economic projects will stabilize the Pakistan economy. Rolling of previous loans is on the agenda of visits that are taken for various energy sector projects mainly in power generating projects of CPEC. Pakistan by holding talks settled the issues with private companies to decrease the rate of return to power-producing companies. Investment in the energy sector is vital, particularly in the context of establishing different economic zones in Pakistan.

The premier has attended the opening ceremony of the Winter Olympics. Prime Minister Imran Khan will hold meetings with Chinese President Xi Jinping and Chinese Premier Li Keqiang. Prime Minister Imran Khan with the close cabinet members and advisors are on China’s visit. Pakistan will ask China to help restore the depleting foreign reserves of the country by holding talks with investors. This visit provides a window of opportunity to engage Chinese companies and industries to invest in Pakistan that would boost the country's economy and stand in global politics.

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