Qudsia Bano

 In a remarkable demonstration of solidarity, the leadership of China and Pakistan has once again reaffirmed their commitment to strengthen the all-weather strategic cooperative partnership, bolstering economic cooperation and enhancing regional stability. Prime Minister Anwaar ul Haq Kakar visited Chinaand participated in the Third Belt and Road Forum for International Cooperation held in Beijing. Both Chinese and Pakistani leaders expressed their resolve to further foster consensus on a myriad of issues to bolster economic and strategic ties between the two nations.

A highlight of the discussions was the enthusiastic recognition of the Belt and Road Initiative (BRI) as a catalyst for global economic growth and a platform for international cooperation. Both countries pledged to work closely on high-quality Belt and Road projects, aiming to foster peace, development and win-win cooperation. The China-Pakistan Economic Corridor (CPEC), a pioneering project of the BRI, was lauded for its fruitful outcomes over the past decade. The two sides expressed their intent to further develop CPEC into an exemplary high-quality Belt and Road cooperation project.

The successful visit culminated in the signing of 20 agreements and Memoranda of Understanding covering cooperation in multiple fields, including infrastructure, mining, industry, green and low-carbon development, health, space cooperation, digital economy, development cooperation and the export of agricultural products to China. The significance of Gwadar Port as a critical node in cross-regional connectivity was acknowledged, with both nations vowing to expedite its development and enhance its role as a regional trade hub.

A major milestone was the agreement to implement the ML-1 upgrade project, further bolstering Pakistan's social and economic development. Furthermore, the two countries agreed to continue collaboration in a variety of sectors, including renewable energy projects, manufacturing facilities, the mining industry, agriculture, information technology, and cultural cooperation. In a positive step to promote bilateral trade and people-to-people exchanges, Pakistan and China announced that the Khunjerab Pass would function all year round as they planned to enhance its infrastructure and passage conditions.

In the realm of finance, the two sides expressed their desire to strengthen financial and banking cooperation, with China thanking Pakistan for its support in the financial sector. Their commitment to space cooperation was also reiterated, with the signing of cooperation documents on the International Lunar Research Station. They expressed their aspiration to advance progress in exploring outer space, propelling both nations to take the lead in cutting-edge space missions.

Dr Hasan Daud Butt, a former project director of CPEC, while talking to WealthPK said that the BRI remains a vital driver of world economic growth, and the commitment of China and Pakistan to working closely on high-quality cooperation is promising for the entire region. "The CPEC, as a flagship project of the BRI, has already shown substantial progress and is set to enter a new phase of high-quality development. The joint efforts to build growth, innovation and green corridors represent a shift towards a more sustainable and diversified approach, emphasising both economic and environmental aspects."

"The commitment to expediting projects such as Gwadar Port, the ML-1 upgrade and the Karakoram Highway realignment is evidence of the determination of both countries to enhance connectivity, stimulate economic growth, and foster regional cooperation. These developments are poised to create a positive impact not only on Pakistan's economy but also on regional trade and connectivity," he underscored.

Daud Butt said that the extensive cooperation agreements in sectors ranging from renewable energy and manufacturing to agriculture and space exploration underscored the comprehensive nature of the China-Pakistan relationship. "By diversifying their collaboration, both countries aim to ensure that the benefits of their partnership reach various segments of their societies, fostering inclusive and sustainable development.

Following the wrap-up of the Third Belt and Road Forum for International Cooperation, the palpable enthusiasm between China and Pakistan resonates with optimism, signaling a brighter and more prosperous future for both nations and further strengthening the bonds of their all-weather friendship."

Credit: INP-WealthPk