CPEC: Beijing promises Chinese investment in SEZs, mining
Pakistan
Pakistan and China issue a joint statement after Shehbaz Sharif’s visit
BEIJING/ISLAMABAD (Web Desk/Agencies) – China and Pakistan have agreed to boost mining cooperation and promote the implementation of a pact on strengthening mining development and industrial cooperation, according to a joint statement from the two countries.
On the other hand, China also congratulated Pakistan on holding successful general elections, and expressed best wishes for the new government in leading the Pakistani people in their endeavours to achieve socioeconomic development, prosperity, unity, stability and security.
“Recognising that mining is an important breakthrough area for industrial cooperation, both sides agreed to strengthen long-term planning for mining cooperation, promote the implementation of the Agreement to Strengthen Mining and Industrial Cooperation under the CPEC Framework collectively, and take actions such as geological survey, joint geology and minerals research and talent training,” reads the statement.
“The two sides expressed their willingness to actively encourage Chinese companies to invest in the mining industry of Pakistan, and strengthen the planning of mining industrial parks, including downstream mineral processing.”
Prime Minister Shehbaz Sharif visited in Beijing from June 4 to 8, in a bid to upgrade cooperation under the multi-billion dollar China-Pakistan Economic Corridor (CPEC), which is a key part of Beijing's Belt and Road Initiative (BRI).
The countries will promote investment by Chinese firms in Pakistan's mining industry, and strengthen the planning of mining industry parks, including deep processing of ores, says a joint statement published by the foreign ministries of the two countries.
China will strengthen cooperation with Pakistan in areas such as marine oil and gas resources and natural gas hydrates, and will encourage Chinese firms to participate in the development of offshore oil and gas blocks in Pakistan, said the statement.
Chinese investment and financial support for Pakistan since 2013 have been a boon for the South Asian nation's struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time foreign reserves are critically low.
Beijing has over $65 billion in investment in road, infrastructure and development projects under the CPEC as part of the BRI.
INDUSTRALISATION
At the same time, Pakistan has identified 13 priority sectors for top Chinese companies to invest in to ensure the country’s export-oriented growth.
China reiterated its commitment to Pakistan’s industrialisation, promising to encourage Chinese companies to invest in Pakistan’s Special Economic Zones (SEZs) in accordance with the market and commercial principles.
In this connection, Pakistan agreed to optimise its business environment and policy framework to further facilitate Chinese investment.
AGRICULTURE
The two countries also agreed to carry out practical cooperation for modernising agriculture in Pakistan in areas such as seed technology, crop cultivation, drip irrigation, prevention and control of animal and plant diseases, mechanization, production capacity cooperation, and technology exchanges.
TERRORISM
Pakistan and China reaffirmed their unyielding support for each other on issues concerning their respective core interests.
In this regard, Pakistan reaffirmed its firm commitment to the one-China principle, and reiterated that Taiwan is an inalienable part of the People’s Republic of China's territory, and that Pakistan firmly supports the Chinese government’s every effort to achieve national reunification and opposes any form of “Taiwan independence”.
“Pakistan firmly supports China on issues concerning Xinjiang, Xizang, Hong Kong and the South China Sea,” says the statement.
When it comes to China on this subject, the Chinese side reiterated its steadfast support for Pakistan in safeguarding its sovereignty, national independence and territorial integrity, in pursuing a development path suited to its national conditions and in its efforts to safeguard national security, stability, development and prosperity, in firmly combating terrorism, and in playing a bigger role in regional and international affairs.
About the Shangla terror attack, China appreciated Pakistan’s “active pursuit and conduct of the investigation and its findings, and hoped that the Pakistani side would continue to make every effort to hunt down any perpetrators and make sure they receive deserved severe punishment”
The Pakistani side was committed to enhancing security forces deployment and taking more effective security measures, and making all-out efforts to ensure the safety of Chinese personnel, projects and institutions in Pakistan.
Moreover, the two sides reiterated their commitment to combating terrorism in all its forms and manifestations with a “zero tolerance” attitude, and agreed to further strengthen cooperation in counter-terrorism and security through a comprehensive approach.
