CPEC enters new phase as Pakistan, China sign 6 MoUs, agreements

July 31, 2023 (MLN): Pakistan and China have signed six agreements and MOUs for the promotion of bilateral cooperation and help initiate the second phase of China Pakistan Economic Corridor (CPEC) under a new model, Prime Minister Shehbaz Sharif stated at the signing ceremony between PM and Chinese Vice-Premier He Lifeng.

Chinese Vice-Premier He Lifeng is visiting here to attend the 10th-anniversary celebrations of CPEC.

Minister for Planning and Development Ahsan Iqbal and the Vice Chairman of National Development and Reforms Commission of the People's Republic of China signed the document on the joint cooperation committee of CPEC.

The second document signed by Ahsan Iqbal and the Vice Chairman of National Development and Reforms Commission of People's Republic of China was related to the establishment of an expert exchange mechanism within the framework of CPEC.

Moreover, the third document was signed by the Secretary Ministry of National Food Security Zafar Hassan, and the Chinese Charge D’Affaires Pang Chunxue for the export of dried Chillies from Pakistan to China.

Member Planning of National Highway Authority Asim Amin and Chinese Charge D’Affaires Pang Chunxue signed the fourth document on the realignment of the Karakoram Highway Phase II project feasibility study.

The two sides also signed through diplomatic channels the MOU on Industrial Workers' Exchange Program.

Furthermore, the two sides agreed to promote the strategic ML-1 project.

“The documents signed today are aimed at further enhancing economic relations between Pakistan and China,” PM Shehbaz Sharif said.

The PM said that under the CPEC, more than $25 billion worth of investment has taken place in Pakistan's power and hydel sector, road infrastructure, and public transport.

He highlighted that we are now entering the second phase of the CPEC which will envisage investments in sectors such as agriculture and information technology.

“Pakistan is absolutely ready to contribute towards Chinese President Xi Jinping's vision of the shared destiny of progress and prosperity,” the PM added.

Both ML-1 and Karachi circular railway projects are of immense importance, expressing the confidence that both sides will successfully achieve these and many other projects.

He was confident that this will help Pakistan stand on its own feet. He said we will emulate the Chinese model of development to achieve peace and prosperity in the country.

The PM said both Pakistan and China enjoy a unique relationship, are iron brothers and this friendship will continue and will not tolerate any obstacles in its way.

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