The two nations will encourage Chinese companies to engage in Pakistan’s mining sector and would fortify the design of mining industry parks, which will include the deep processing of ores. BEIJING: A joint statement from China and Pakistan states that the two nations have decided to expand mining cooperation and encourage the execution of a deal on bolstering mining development and industrial cooperation.
In an effort to strengthen collaboration under the multibillion dollar China-Pakistan Economic Corridor (CPEC), a vital component of Beijing’s Belt and Road Initiative, Pakistani Prime Minister Shehbaz Sharif travelled to Beijing from June 4–8.
Five-day visit to China: PM promises security for people and investors.
China’s foreign ministry released a joint statement stating that the two nations will encourage Chinese companies to engage in Pakistan’s mining sector and will improve the design of mining industry parks, which will include the deep processing of ores.
According to the statement, China would encourage Chinese companies to get involved in the development of offshore oil and gas blocks in Pakistan and will deepen its cooperation with Pakistan in sectors including marine oil and gas resources and natural gas hydrates.
Pakistan’s faltering economy has benefited greatly from Chinese investment and financial help since 2013. This includes the rolling over of loans to enable Islamabad to satisfy its external finance needs during a period when foreign reserves are low.
Meeting with the head of POWERCHINA: PM informed on opportunities for clean, low-carbon energy.
As part of the Belt and transportation initiative, Beijing has invested over $65 billion in development, infrastructure, and transportation projects along the China-Pakistan Economic Corridor.
