BEIJING, China: In the Fifth Round of the Pakistan-China Foreign Ministers’ Strategic Dialogue, held in Beijing and co-chaired by Deputy Prime Minister Mohammad Ishaq Dar and Chinese Foreign Minister Wang Yi, the two nations reaffirmed their commitment to strengthening bilateral ties and enhancing cooperation across various domains.
The dialogue underscored the significance of Pakistan and China’s strategic partnership, emphasizing mutual support and collaboration in economic, political, defense, and cultural spheres.
One of the key agendas discussed during the dialogue was the consolidation of cooperation in energy, banking, and financial sectors. Both countries recognized the importance of expanding collaboration in these areas to facilitate economic growth and development. Pakistan, with its rich energy resources, aims to leverage Chinese expertise and investment to enhance its energy infrastructure and address energy shortages. Additionally, cooperation in the banking and financial sectors is vital for promoting trade and investment between the two nations, contributing to sustainable economic development.
A focal point of the dialogue was the advancement of the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC). Both sides reiterated their commitment to supporting high-quality BRI cooperation and forging an “upgraded version” of CPEC. The CPEC, a flagship project under the BRI, aims to enhance connectivity and foster economic development in Pakistan through infrastructure projects, energy ventures, and industrial cooperation. By aligning CPEC projects with Pakistan’s development framework and priorities, the two countries seek to maximize the socio-economic benefits for both nations and promote regional connectivity.
During the dialogue, Pakistan and China agreed to accelerate progress on major connectivity projects, including the upgradation of ML-1 (Main Line 1), the development of the Gwadar Port, and the realignment of the Karakoram Highway Phase II. These projects are integral to enhancing transportation infrastructure and facilitating trade routes between Pakistan and China. Furthermore, cooperation in agriculture, industrial parks, mining, information technology, and other sectors will be strengthened to enhance Pakistan’s capacity for sustainable development.
The dialogue also highlighted the importance of the Khunjerab Pass in promoting bilateral trade and people-to-people exchanges between Pakistan and China. Efforts will be made to ensure the year-round functionality of the pass, facilitating smoother cross-border trade and tourism activities. Additionally, both countries expressed satisfaction with their expanding space cooperation and agreed to further collaborate in this area for peaceful exploration and mutual benefits.
Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar @MIshaqDar50 participated in an engaging discussion with representatives from Chinese associations, chambers of commerce and business enterprises, focusing on enhancing economic collaboration and strengthening… pic.twitter.com/GcONWJFTw2
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) May 16, 2024
