World Economy

Pakistan, China Sign 51 Agreements

Pakistan, China Sign 51 Agreements
Pakistan, China Sign 51 Agreements

Chinese President Xi Jinping described Pakistan as China's "dependable" friend and firmly backed its territorial integrity, as he announced long-term support for the cash-strapped country's economic development.

Addressing a joint sitting of Pakistan's parliament on the final day of his two-day maiden trip during which he oversaw signing of 51 agreements, Xi stressed that the bilateral ties are based on mutual trust and support, PTI reported Wednesday.

Xi said China and Pakistan will always move forward together and the Chinese people will always stand together with the Pakistani people.

"During my current visit, President Mamnoon Hussain, PM (Pakistan Prime Minister Nawaz) Sharif and I jointly agreed to elevate China-Pakistan relations to an all-weather strategic partnership," Xi said, a day after unveiling $46 billion ambitious China-Pakistan Economic Corridor.

The 3,000-km corridor linking China's far-western region to Pakistan's south-western Gwadar port on the Arabian Sea through Pakistan-occupied Kashmir (PoK) is massive project of road, rail, energy schemes, pipelines and investment parks.

"Pakistan is the first foreign country that I visit this year," said Xi, the first Chinese President to visit Pakistan in nine years.

He outlined the vision of Chinese development and said that China wants to go ahead by forging "win-win" cooperative deals with other countries, especially neighbors.

Xi said China will open up all sectors of its economy. He said South Asia has great potential and China was eager to have close cooperation with all countries of the region.

He mentioned his last year visit to three regional countries including India.

Xi mentioned his concept of "Roads and Belts" and said China-Pakistan Economic Corridor will benefit all region of Pakistan and the region.

He said China was also working for another regional connectivity plan to link with India, Bangladesh and Myanmar.

Xi also said that China would work with Pakistan for reconciliation and peaceful transition in Afghanistan.