Thursday , June 8 2023

Flash – Beijing promises Islamabad support for China-Pakistan economic corridor


Beijing's neighbor says China will continue to support the development of Pakistani infrastructure in the Sino-Pakistani economic corridor project after Prime Minister Lee Kikiang has received Pakistani partner Imran Khan, the Pakistan's second largest economy for investment and investment. In the world.

China's position follows that, due to the financial crisis in Islamabad, Beijing is deepening its country's projects by helping to build a "China-Pakistan economic corridor" aimed at strengthening energy and transport links in West Xinjiang, China and the Arab- sea ​​through Pakistan.

China is a major investor in Pakistan where the two countries are working on a $ 50 billion partially funded Beijing project, and part of the Road and Road initiative launched by Chinese President Xi Jinping calls it a commercial and infrastructure ambitious international program.

The initiative received international recognition and criticism. While some people saw a serious financing shortage in the developing world, others believed that Chinese loans were aimed at dumped debt-producing countries.

The "belt and road" projects in Pakistan were sharply criticized for the uncertainty of lending conditions, some suggesting that the generosity of Beijing could exacerbate the financial crisis in Islamabad.

On Saturday, Pakistan and China conducted these criticisms and concerns, saying the project was an indispensable part of Pakistan's economic recovery plans.

At a meeting, Khan called on his Chinese counterparts to visit Pakistan to witness the change in the earth's great project.

"In 2013, the Sino-Pakistani economic corridor was just an idea, but now it's a reality," Khan said.

"We feel that this is a great way to promote our country and attract investment," he said, adding that the project "gives us the opportunity to raise our standard of living and growth".

On Li, Li praised relations with Islamabad and said that "China and Pakistan are partners in all circumstances."

"Pakistan has always been a priority for China's foreign policy," he said.

– "Lowest level" –

After negotiations, Khan and Li signed 16 co-operation agreements with the Chinese Assistant Secretary of State, Kong Chuanyu, according to which the two countries "are continually pursuing the implementation of the China-Pakistan economic corridor project."

Officials presented only a general list of signed agreements that seemed more political and economical.

Concerning the future of infrastructure cooperation, Kong said: "The number of Sino-Pakistani economic corridor projects has not changed," adding that "any change that could happen could be an increase in the number of projects" and not a decrease.

"The Sino-Pakistani economic corridor will be extended to other areas of Pakistan," said Kong, stressing that the project contributes to improving people's lives.

After a meeting between Pakistani Prime Minister and Chinese President after the khan and lei meetings, when the former cricket champion explained the financial problems of his country and said the Pakistani economy was "the lowest".

As it came to power in August, Khan sought out loans from "friendly" countries such as Saudi Arabia and pledged to recover stolen money from corrupt officials while applying austerity measures to monetizing.

Before traveling to China, Khan said he was seeking financial support for two non-nominated countries after Pakistan had $ 6 billion in Saudi Arabia.

Islamabad also held talks with the International Monetary Fund (IMF) about the possible exemption of the current account deficit and the current account deficit.

Pakistan has repeatedly resorted to the International Monetary Fund (IMF) since the late 1980s.

Last time in 2013, when Islamabad secured $ 6.6 billion in credit for a similar crisis.

© 2018 AFP

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