Landmark Pact: China and Pakistan Ink Groundbreaking ML-I Railway Deal
In a historic development, Pakistan and China officially sealed the eagerly anticipated Mainline One (ML-I) railway project, a colossal endeavor valued at approximately US$ 6.7 billion. This transformative initiative is poised to overhaul and replace the time-worn railway track stretching from Peshawar to Karachi.
P.c. China-Pakistan Economic Corridor
The momentous agreement was formalized during a distinguished signing ceremony in Beijing, graced by the presence of Chinese Premier Li Qiang and Caretaker Prime Minister Anwaarul Haq Kakar. Beyond the ML-I accord, a spectrum of agreements was inked, underscoring the commitment to elevate the multifaceted relationship between the two nations.
During a bilateral meeting on the sidelines of China's Third Belt and Road Forum (BRF), Caretaker Prime Minister Anwaar-ul-Kakar and Chinese Premier Li Qiang explored avenues to fortify high-level dialogue. The discussions encompassed various realms, including politics, economics, education, science & technology, culture, and people-to-people connections.
Acknowledging the enduring and robust friendship between Pakistan and China, the leaders expressed mutual felicitations and discussed the expansive Belt and Road Initiative (BRI). Prime Minister Kakar hailed the BRI as a globally significant project, emphasizing its role in fostering connectivity and shared prosperity.
The dialogue delved into collaborative efforts within the China-Pakistan Economic Corridor (CPEC), with a focus on enhancing economic ties. Prime Minister Kakar highlighted the pivotal role of CPEC in Pakistan's economic landscape, commending its expansion into diverse developmental areas such as industrial development, livelihood projects, ICT, mining and minerals exploration, and agriculture.
Anticipating Chinese investments in Special Economic Zones (SEZs) as a catalyst for diversifying Pakistan's export portfolio and expanding its industrial footprint, Prime Minister Kakar expressed confidence in the positive impact on the nation's economic landscape.
Premier Li Qiang echoed these sentiments, emphasizing the consistent growth in bilateral cooperation and the encouraging trajectory of CPEC projects. He expressed optimism that the shared leadership consensus would further propel trade and economic relations between the two nations.
The signing ceremony, witnessed by both prime ministers, marked the culmination of several Memoranda of Understanding (MoUs) and agreements. These encompassed critical areas such as commerce, communication and transport (including ML-I), connectivity, food security & research, media exchanges, space cooperation, urban sustainable development, capacity building, mineral development and industrial cooperation, climate change, and vaccine development.