ISLAMABAD – China and Pakistan concluded nearly 15 billion dollars’ worth of deals on Saturday, as Chinese Premier Wen Jiabao said Beijing would ‘never give up’ on Pakistan.
Business leaders formalised the paperwork – adding to the 20 billion dollarsÂ’ worth of deals signed Friday – under blanket security at the federal capitalÂ’s five-star Marriott Hotel. The latest deals included 17 agreements, four memorandums of understanding (MoUs) and one joint venture.
Chinese Premier Wen Jiabao and Prime Minister Yousuf Raza Gilani witnessed the signing ceremony during Pak-China Business Cooperation Summit where around 260 Chinese delegates and 150 representatives of Pakistan present.
Terming the Pak-China relations as exemplary, Wen Jiabao reiterated his resolve to enhance the bilateral trade with Pakistan in the coming years in a bid to improve flow of investments between both of the countries.
Addressing the moot, the Chinese premier informed that his country would increase investment in Gwadar Port.
He admitted that there were some trade related issues with Pakistan, which were temporary and could be resolved, as China would help Pakistan in increasing exports and improving its infrastructure.
Earlier, Gilani said, “We would encourage Chinese companies to consider investments in the energy sector, which assures certain returns. Our energy requirements are expected to increase from 20,000MWs to more than 160,000MWs by the year 2030.”
“Pakistan has 185 billion tonnes of coal reserves, which would be converted into energy to satisfy Pakistan’s growing demand,” he added while encouraging Chinese investors to explore opportunities in oil and gas sectors.
“The government has announced special economic incentives for Chinese investors including duty-free import of plant and machinery, exemption from sales tax and income tax,” he informed.
He informed the participant that Pakistan was in the process of creating a National Trade Corridor, which would be connected to China through an upgraded Karakoram Highway.
“Besides a comprehensive Free Trade Agreement and the Joint Five Year Economic Programme, we are now jointly endeavouring to establish closer financial and banking sector cooperation,” PM Gilani said, adding that the govt was giving importance to the safety and security of Chinese personnel and premises in Pakistan.
Meanwhile, in his address at banquet hosted in the honour of Wen Jiabao, Gilani while the declaring 2011 as year of Sino-Pak Friendship said Pakistan strongly believed in ‘One-China’ policy and was opposed to any policy aimed at containing progress or impeding peace and development in the region.
The banquet was attended by the three Services Chiefs, Punjab Chief Minister Mian Shahbaz Sharif, JUI chief Maulana Fazlur Rehman, President PML-Q Ch Shujaat Hussain, ANP President Asfandyar Wali and others.
“We desire a peaceful environment in our region in the interest of our development and to raise the living standards of our people. We seek peaceful resolution of all issues with India, including the longstanding Jammu and Kashmir dispute,” Gilani said, as he hoped that the success in this endeavour would usher in a new era of peace and prosperity in South Asia.
Similarly, he said, a stable Afghanistan would open up vast opportunities for Pakistan and indeed for other regional countries.
“We deeply appreciate China’s support to Pakistan on various regional and international issues”.
He said the longstanding ties of friendship between the two countries were underpinned by mutual trust, solid confidence and creating synergy to build mutually-beneficial relationship for progress and social harmony in our two countries as well as in Asia and beyond.
“A unique characteristic of Pakistan-China relationship has been that it is not directed against any country,” he remarked.
PM said, “We are opposed to any policy which aims at “containing progress or impeding peace and development” in the region.
Speaking on the occasion, the Chinese PM promised to assist Pakistan various sectors including energy and agriculture, adding that the strategic ties between the two countries would also be extended.
Chinese Prime Minister Wen Jiabao will address the joint sitting of the Parliament today (Sunday morning).
He will be the first Chinese and the sixth world leader to address the joint session of the PakistanÂ’s Parliament. Five foreign dignitaries who had earlier addressed the joint sitting are Turkish Prime Minister Recep Tayyip Erdogan, former Sri Lankan Prime Minister Sirimavo Bandaranaike, ex-Turkish President Kenan Evran, former Iranian president Ali Akbar Hashemi Rafsanjani and Queen Elizabeth II of the Great Britain.
Agencies add: According to a list handed out to journalists, the biggest deal was 6.5 billion dollars to develop wind and solar power.
Though not specifically mentioned, behind-the-scenes talks were expected on China building a one-gigawatt nuclear power plant as part of Pakistani plans to produce 8,000MW of electricity by 2025 to make up its energy shortfall.
The Islamabad city administration declared Saturday a public holiday, apparently for security reasons with the country on full-time alert for suicide attacks and bombings blamed on the Taliban and Al-Qaeda-linked extremists.
“China-Pakistan friendship will last forever,” Chinese Prime Minister told a ceremony commemorating Chinese workers who died in the 1970s while building the Karakoram Highway.
On the occasion, Gilani announced Rs0.3 million for the custodian of graves of 500 Chinese, died in Pakistan during the construction work on the highway.
Earlier on Friday, Information Minister Qamar Zaman Kaira told reporters that Pakistan and China signed deals worth around 20 billion dollars boosting trade and investment. It included 13 agreements and memorandums of understanding in fields including energy, rail transport, reconstruction, agriculture and culture.
“China will provide assistance in 36 projects in Pakistan to be completed in five years,” he said. “Basically this is a five-year development plan.”
Although no specific mention was made of nuclear power, talks are believed to be ongoing on China building a one-giga watt nuclear power plant to overcome acute energy shortages.
Gilani has expressed the hope that trade will rise to between 15 and 18 billion dollars over the next five years.
Meanwhile, the two countries reached agreement on enhancing bilateral ties during the one-to-one as well as delegation-level talks between Gilani and Wen Jiabao.
China extended full support to PakistanÂ’s sovereignty, security and political integrity. It also extended strong support for enhancing PakistanÂ’s defence and economic cooperation as well as in space programme.