Pakistan, China Reaffirm Strong Ties, Agree on Next Phase of CPEC 2.0
Pakistan and China have expressed satisfaction over the positive momentum in their bilateral relations and pledged to work closely on the next phase of the upgraded China-Pakistan Economic Corridor (CPEC 2.0), which will feature five new development corridors.
The understanding was reached during a meeting between Prime Minister Muhammad Shehbaz Sharif and Chinese Premier Li Qiang on Thursday.
During the meeting, described as “warm and friendly,” the prime minister conveyed his deep appreciation to the Chinese leadership and people for their consistent support of Pakistan’s sovereignty, territorial integrity, and socio-economic progress.
Building on the consensus reached earlier this week between President Xi Jinping and Prime Minister Shehbaz, both sides reaffirmed their commitment to strengthening their “iron-clad, all-weather” strategic partnership. The signing of the Joint Action Plan 2024-2029 was termed an important milestone in this regard.
The prime minister congratulated China on the successful hosting of the SCO Council of Heads of State Summit in Tianjin and extended felicitations on the 80th anniversary of China’s victory in the War of Resistance and the World’s Anti-Fascist War. He praised China’s remarkable transformation under President Xi Jinping’s leadership and expressed Pakistan’s aspiration to learn from China’s development model to build a stronger, shared future.
Highlighting Pakistan’s reform agenda, the prime minister noted that recent progress was made possible through China’s consistent support. He also shared Pakistan’s intent to launch Panda Bonds in the Chinese capital market.
On the economic front, the prime minister underscored the pivotal role of CPEC in Pakistan’s development over the last decade and stressed the importance of advancing projects such as ML-I railway upgrade, the Karakoram Highway realignment, and Gwadar Port’s operationalization.
He emphasized the vast potential for B2B cooperation, citing agriculture, mining, textiles, industry, and IT as priority sectors. Earlier in the day, a B2B Investment Conference brought together more than 300 Pakistani and 500 Chinese companies.
Pakistan also reiterated support for President Xi’s global initiatives, including the Global Development Initiative, Global Security Initiative, Global Governance Initiative, and Global Civilization Initiative.
Looking ahead, Pakistan and China will mark the 75th anniversary of diplomatic relations next year with a series of joint celebrations.
The two leaders witnessed the signing of multiple MoUs and agreements covering cooperation in CPEC 2.0, science and technology, IT, media, agriculture, and other sectors. The official talks concluded with a luncheon hosted by Premier Li Qiang in honor of the Pakistani delegation.
