ISLAMABAD – Chinese President Xi Jinping has reaffirmed China’s unwavering support for Pakistan, assuring that regardless of changes in the international landscape, China will stand firmly by Pakistan’s side.
He conveyed this message during a congratulatory event celebrating a decade of the China-Pakistan Economic Corridor (CPEC) in Islamabad, attended by Chinese Vice Premier He Lifeng, who is on a three-day visit to Pakistan.
President Xi emphasized the significance of the bilateral ties and pledged to enhance overall planning and expand cooperation between both nations. He highlighted that CPEC is a crucial pioneering project of the Belt and Road cooperation and expressed China’s commitment to collaborate with Pakistan in making CPEC a model of high-quality Belt and Road cooperation, aiming for sustainable and livelihood-enhancing outcomes.
Since its inception in 2013, CPEC has made remarkable progress, achieved early harvests, and contributed to Pakistan’s economic and social development while laying the groundwork for regional connectivity and integration. President Xi underscored that this project serves as a testament to the enduring friendship between China and Pakistan and provides a strong foundation for building an even closer China-Pakistan community with a shared future.
President Xi assured that China and Pakistan will continue to work together hand in hand, strengthen their ironclad friendship, coordinate development and security, and deepen cooperation on higher standards and broader scopes. The goal is to elevate the China-Pakistan all-weather strategic cooperative partnership to new heights, further contributing to peace, prosperity, and development in both countries and the broader region.
During the event, the two nations signed six agreements and memorandums of understanding (MOUs) to promote bilateral cooperation. These agreements covered various areas, including the joint cooperation committee of CPEC, establishing an experts’ exchange mechanism within the framework of CPEC, exporting dried Chillies from Pakistan to China, realigning the Karakoram Highway Phase II project feasibility study, an Industrial Workers’ Exchange Program, and the promotion of the strategic ML-1 project. These agreements further solidify the ties between China and Pakistan and pave the way for mutually beneficial collaboration in multiple domains.
Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).
In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.
On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.
UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.
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