Pakistan and China reach agreement on upgrading CPEC, advancing to second phase
Published on: June 9, 2024.
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Prime Minister Muhammad Shehbaz Sharif and Chinese President Xi Jinping have reaffirmed their commitment to the high-quality development of the China-Pakistan Economic Corridor (CPEC) and the timely completion of ongoing projects. They have also agreed on the up-gradation of the CPEC and the further advancement of the mega project in its second phase.
During their meeting at the historic Great Hall of the People, Prime Minister Sharif briefed President Xi on Pakistan’s policies for economic reform, sustained growth, industrial development, agricultural modernization, and regional connectivity, emphasizing the critical role played by CPEC in Pakistan’s development. He expressed Pakistan’s dedication to the high-quality development of CPEC and the alignment of the two countries’ development strategies through close coordination.
Both leaders expressed their appreciation for the longstanding “All-Weather Strategic Cooperative Partnership” and pledged to deepen cooperation across various domains, including politics, security, economy, trade, and people-to-people exchanges.
Prime Minister Sharif thanked President Xi for the warm welcome extended to him and his delegation in China. He reminisced about President Xi’s historic visit to Pakistan in 2015, which marked the formal operation of the China-Pakistan Economic Corridor, ushering in a new era of bilateral relations.
The two leaders also discussed President Xi’s Belt and Road Initiative (BRI) and Global Development Initiative (GDI), with Prime Minister Sharif praising their vision. He emphasized that as the flagship project of the BRI, the China Pakistan Economic Corridor has significantly contributed to Pakistan’s socioeconomic development. Prime Minister Sharif reassured President Xi of Pakistan’s commitment to the safety and security of Chinese nationals, projects, and institutions in Pakistan.
President Xi hosted a banquet in honor of Prime Minister Sharif, where they engaged in further discussions on various mutual interests.
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