China, Pak ink six pacts on CPEC

Beijing/Islamabad, May 13

China and Pakistan today signed six pacts to boost cooperation on the $50 billion China-Pakistan Economic Corridor (CPEC), including one on building an airport at the strategic Gwadar port city, with President Xi Jinping asserting that ties with Islamabad were a priority.

The pacts were signed in the presence of Pakistan Prime Minister Nawaz Sharif and Chinese Premier Li Keqiang ahead of the much-publicised Belt and Road Forum beginning tomorrow.

The agreements included accords of cooperation in diverse fields, framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative, Economic and Technical Cooperation with assistance of $210 million for Gwadar Airport, Economic and Technical Cooperation for Gwadar Airport ($115 million) and East Bay Expressway ($160 million), state-run Associated Press of Pakistan reported.

After the MoUs and agreements were signed, Xi told Sharif that the bilateral ties remain “a priority for China” and Beijing was willing to enrich the "all-weather" strategic and cooperative partnership with Pakistan.

Sharif also attended a presentation made by China's National Energy Administration on the construction of Bhasha Dam, a project which he said is of critical importance for the future of Pakistan.

The pacts deal with the increasing bilateral cooperation within the framework of China's ambitious Silk Road project, upgrading the main railway track between Karachi and Peshawar —referred to as ML-1 —, and an MoU for the establishment of a dry port in Havelian, Radio Pakistan reported.

On the CPEC, Xi said the supplementary projects in and around the Gwadar port in the restive Balochistan province should be steadily advanced and the study on the construction of industrial parks along the corridor facilitated. The deep-water port and the CPEC is of significance to China as they together facilitate Beijing’s access to the Arabian Sea and resultantly links it with Eurasia and Africa. The Gwadar port opposite the Mumbai’s port housing the Indian Navy’s western naval command provides a berth for China in the Arabian Sea and to the Indian Ocean. — PTI