ISLAMABAD (APP) – Agreements worth $18 billion in key economic sectors are likely to be signed with China during the upcoming visit of Chinese President Xi Jinping next week.
During the visit, both countries would conclude a number of important agreements/MoUs relating to key development projects in the infrastructure, energy, and communication sectors under the ambit of the China-Pakistan Economic Corridor.
Other important agreements related to other areas, will also be signed on this occasion.
Pakistan’s Foreign Office said that President Xi Jinping will undertake a state visit to Pakistan on 20-21 April 2015 at the invitation of the President and the Prime Minister of Pakistan. This would be the Chinese President’s first foreign visit this year.
The Chinese President will be accompanied by a large delegation, including First Lady Madam Peng Liyuan, senior Ministers, high-level functionaries of the Communist Party, and senior government officials.
According to the statement, the Chinese President will hold official talks with Prime Minister Muhammad Nawaz Sharif.
President Xi Jinping will be conferred the country’s highest civil award, the ‘Nishan-e-Pakistan’ at a special investiture ceremony, organised at the Aiwan-e-Sadr.
During the visit, President Xi Jinping will also address the Joint Session of Parliament.
China has been a key financial and military ally of Islamabad over the years and Pakistani Prime Minister Nawaz Sharif secured promises of $42 billion worth of investment when he went to Beijing in November last year.
Much of that centered on the energy sector — Pakistan has wrestled with chronic power shortages in recent years that have scrubbed several points off GDP growth and inflicted misery on the everyday lives of its citizens.
Analysts believe the visit will pave the way for greater Chinese investment in Pakistan. Recent reports suggested Beijing may agree to finance key sections of a long-stalled gas pipeline connecting Pakistan to Iran.
“The visit is both symbolic and substance wise, China will enhance investment and economic activity in Pakistan,” analyst and retired general Talat Masood said.
The two countries will review all aspects of their bilateral relations and also exchange views on regional issues and international developments, the foreign office statement said, adding President Jinping’s visit would further consolidate the existing ‘all weather relations’ between Pakistan and China, in all areas of importance, especially political, economic and strategic.
