Strengthening Ties: Pakistan and China Commit to ML-1 Upgrade
During the recent visit of Chinese Premier Li Qiang to Pakistan on October 14-15, 2024, both nations reaffirmed their commitment to the upgrade of the Main Line-1 (ML-1) railway project. A significant focus was placed on the construction of the Karachi-Hyderabad section as the first phase of the project. In a joint statement released by the Ministry of Foreign Affairs, the two countries pledged to refine the construction plan for this crucial section and develop sustainable financing strategies.
P.c. China Pakistan Economic Corridor
The discussions highlighted Pakistan’s gratitude for China's ongoing support in achieving fiscal stability and their mutual dedication to enhancing cooperation in financial and banking sectors. The reaffirmation of the China-Pakistan Bilateral Currency Swap Arrangement was also acknowledged, emphasizing both nations' commitment to supporting each other in regional and international financial frameworks.
The visit underscored the resilient relationship between Pakistan and China, which has strengthened since President Xi Jinping's state visit to Pakistan in 2015. Recent developments, including PM Shehbaz Sharif’s visit to China, have further solidified political trust and cooperative frameworks between the two countries.
As they navigate a rapidly changing global landscape, Pakistan and China are committed to their strategic partnership. Both sides reiterated their support for initiatives such as the Belt and Road Initiative, showcasing their dedication to fostering a community with a shared future. They agreed on the importance of Gwadar Port as a regional connectivity hub and committed to addressing infrastructure needs to boost cargo shipments.