Pakistan urges Chinese companies to invest in 13 priority sectors

ISLAMABAD: Pakistan has identified 13 priority sectors for enhancing export-oriented industry and encouraged Chinese top companies in these sectors to make investment in the country.

A Joint Statement issued at the culmination of Prime Minister Shehbaz Sharif’s visit to China, stated that Chinese side welcomed Pakistan to expand exports to China.

Both countries put great emphasis on industrial cooperation under the framework of high-quality CPEC development and the two sides signed the Action Plan for Framework Agreement on Industrial Cooperation under CPEC in this regard.

The two sides recognized that the China-Pakistan Economic Corridor has been a pioneering project of the Belt and Road Initiative.

After the successful first decade of CPEC, the two sides are committed to carrying out the eight major steps for supporting high-quality Belt and Road cooperation.

It was reaffirmed that upgradation of ML-I is an important project under the CPEC framework and is of strategic significance to Pakistan’s socio-economic development.

Both sides recognized that the Karakoram Highway (Raikot-Thakot) realignment project is of great significance for the smooth operation of the only land-based channel between Pakistan and China.

Pakistan and China agreed to advance upgradation of the inspection infrastructure of the Khunjerab-Sost pass so as to realize the all year-round function of the pass at an early date.

Recognizing the significance of Gwadar Port as an important node in cross-regional connectivity, the two sides were satisfied that the New Gwadar International Airport will soon be finished, and reiterated the need to speed up the development of the auxiliary infrastructure of the Gwadar Port in order to fully realize the potential of the coastal city, especially as a transshipment hub with a shipyard.

China reiterated its commitment to Pakistan’s industrialization, and will encourage Chinese companies to invest in Pakistan’s Special Economic Zones in accordance with the market and commercial principles.

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.

The Chinese side expressed its willingness to strengthen cooperation with Pakistan in such areas as offshore oil and gas resources, and natural gas hydrate and Chinese companies to actively participate in the development of offshore oil and gas blocks of Pakistan.

The two sides would carry out practical cooperation for modernizing agriculture in Pakistan in areas such as seed technology, crop cultivation, drip irrigation, prevention and control of animal and plant diseases, agricultural mechanization, production capacity cooperation, and agricultural technology exchanges.

Both countries agreed to strengthen development of the Pakistan-China digital information channel, and promote the integration of information and communication technology infrastructure and develop an innovation corridor through Pakistan.

Appreciating China’s contributions to addressing power shortages in Pakistan, both sides agreed to launch a new phase of energy cooperation, by modernizing production, transmission and distribution systems to reduce line and other losses.

The two sides agreed to promptly implement post-disaster reconstruction aid projects aided by China in Pakistan at an early date.

Under the framework of the Phase II of Pakistan-China Free Trade Agreement, both sides agree to conduct further consultation and actively explore concessional arrangements for mutual benefit and win-win outcomes.

Expressing satisfaction at the holding of the 13th CPEC’s Joint Coordination Committee meeting (online) on May 24, this year, the two sides agreed to expeditiously implement consensus achieved by the JCC.

The Pakistani side welcomes the Global AI Governance Initiative announced by President Xi Jinping, and China’s endeavor to increase the right of developing countries in global AI governance. The two sides are willing to continue to deepen space cooperation for peaceful use based on equality and mutual benefit.

China expressed commitment to continuing its support for Pakistan in organizing and participating in cultural and tourism exchanges in China. Both sides reaffirmed their determination to enhance practical cooperation in the fields of culture and tourism.

China reaffirmed its commitment to continue providing support and assistance to Pakistan and other developing countries in addressing climate change and mitigating the adverse impacts of extreme weather events.

Pakistan and China underscored that stronger strategic defence and security cooperation between Pakistan and China plays an irreplaceable and critical role in maintaining peace and stability and ensuring strategic balance of the region. The two sides agreed to maintain high-level military-to-military visits and exchanges and promote cooperation in areas of joint training and exercises and military technology.

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. Calling on the international community to strengthen counter-terrorism cooperation, the two sides expressed their firm opposition to double standards on counter-terrorism, and opposed the politicization and instrumentalization of counter-terrorism. The two sides stood ready to work with the international community to strengthen multilateral counter-terrorism cooperation within multilateral frameworks such as the United Nations.

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.

Both sides underscored the importance of maintaining peace and stability in South Asia, the need for resolution of all outstanding disputes, and their opposition to any unilateral action. The Pakistani side briefed the Chinese side on the latest developments of the situation in Jammu and Kashmir. The Chinese side reiterated that the Jammu and Kashmir dispute is left over from history, and should be properly and peacefully resolved in accordance with the UN Charter, relevant UN Security Council resolutions and bilateral agreements.

Both sides called for concerted efforts of the international community to positively support Afghanistan in properly addressing challenges. Both sides agreed to play a constructive role in helping Afghanistan to achieve stable development and integrate into the international community.

The two sides reiterated that the fundamental way out of the current crisis in Gaza lies in the Two-State solution and the establishment of an independent State of Palestine. The resolution adopted by the UN Security Council is legally binding, and should be enforced effectively to achieve an unconditional and lasting ceasefire immediately.

The two sides called on the international community for increasing political input into the Palestinian question with a greater sense of urgency, stepping up efforts to facilitate the early resumption of peace talks between Palestine and Israel, and strive for enduring peace.

Pakistan and China signed 23 agreements and MOUs covering cooperation on CPEC, agriculture, infrastructure, industrial cooperation, inter-governmental development assistance, market regulation, surveying and mapping, media and film.

Prime Minister Muhammad Shehbaz Sharif expressed appreciation to the Chinese government and people for the warm hospitality extended to him and the Pakistani delegation, and invited Chinese leaders to visit Pakistan and attend the 23rd Meeting of the Council of the Heads of Government of the Shanghai Cooperation Organization Member States. The Chinese leaders appreciated the invitation. The two sides agreed to maintain communication on that through diplomatic channels.