Exploring New Horizons: Pakistan's 41 Potential Agreements with China
Pakistan is gearing up for a significant milestone with the anticipated visit of Chinese Prime Minister Li Qiang, marking the first visit by a Chinese premier to Pakistan in over a decade. As the country aims to strengthen its ties with China, officials have compiled a list of 41 potential agreements to discuss during this historic meeting.
Under the Special Investment Facilitation Council (SIFC), Pakistan has rationalized its investment expectations from Gulf nations to a target of $27 billion over the next five years. This adjustment comes amidst ongoing efforts to attract new investments and solidify existing agreements, especially with China.
Planning Minister Ahsan Iqbal has confirmed that the list of deliverables is still being finalized, with discussions focusing on various projects under the China-Pakistan Economic Corridor (CPEC). Notably, 17 of the proposed deliverables are in advanced stages, including a cooperation plan that aligns with China's Belt and Road Initiative. Other key projects under consideration include the Kohala and Azad Pattan hydropower projects, and the Gwadar coal power project.
Significantly, discussions may also lead to agreements on offshore oil and gas exploration and the construction of breakwaters at Gwadar port. Additionally, there are proposals to revise existing agreements related to double taxation, enhancing fiscal cooperation between the two nations.
Furthermore, Pakistan is expected to propose a sister port relationship between Karachi Port and the Port of Shanghai, as well as agreements on infrastructural development projects and digital initiatives aimed at enhancing educational and technological cooperation.
The upcoming visit is not only a chance to finalize these agreements but also to potentially secure loans for various infrastructure projects, including the Thakot-Raikot segment of the Karakoram Highway, which has been under negotiation.
As both nations work toward finalizing these agreements, there is a keen focus on ensuring the successful execution of previous projects while exploring new avenues for collaboration. The outcome of this visit is poised to play a crucial role in shaping Pakistan's economic landscape and its long-term partnership with China.