PM Shehbaz Meets Chinese Premier, Agrees on CPEC Phase II with Five New Corridors

APP

Beijing: Prime Minister Muhammad Shehbaz Sharif met with Chinese Premier Li Qiang to reaffirm the strong and all-weather strategic partnership between Pakistan and China. The leaders agreed to jointly advance five new corridors under CPEC Phase II and signed 21 Memoranda of Understanding (MoUs) worth $4.2 billion to enhance cooperation in agriculture, electric vehicles, solar energy, health, chemicals, petrochemicals, iron, steel, and other sectors.

During the high-level meetings, Prime Minister Shehbaz Sharif expressed gratitude to China for its steadfast support for Pakistan’s territorial integrity, sovereignty, and socio-economic development. He highlighted that the ongoing economic reforms and achievements in Pakistan have been possible due to China’s strong support. The Prime Minister also announced Pakistan’s intention to issue Panda Bonds in the Chinese capital market soon.

Prime Minister Sharif emphasized the transformative role of the China-Pakistan Economic Corridor (CPEC) in Pakistan’s socio-economic growth, noting that projects such as the Karakoram Highway, railway Line-1 upgrades, and the operationalization of Gwadar Port are critical. Both leaders agreed to accelerate work on CPEC Phase II, including the development of five new economic corridors.

Addressing the Pakistan-China B2B Investment Conference in Beijing, PM Shehbaz Sharif highlighted investment opportunities across agriculture, mining, textiles, industrial sectors, and IT. He encouraged Chinese investors to explore Special Economic Zones (SEZs) in Pakistan, emphasizing mutually beneficial collaboration.

The Prime Minister underscored the historical friendship between Pakistan and China, describing it as “higher than the Himalayas, deeper than the oceans, stronger than steel, and sweeter than honey”, built on trust, mutual respect, and cooperation in every circumstance. He noted that past Chinese investments have helped Pakistan overcome energy shortages, restore industries, revitalize agriculture, and implement major infrastructure projects, including dams, road networks, and the Lahore Orange Line Metro.

Prime Minister Sharif emphasized that CPEC 2.0 represents a new era of B2B investment, with a focus on agriculture, IT, AI, mining, and renewable energy, and stressed that Chinese investors’ security in Pakistan will remain a top priority. He assured investors of full governmental support and streamlined processes to accelerate joint ventures and the establishment of multiple SEZs under CPEC 2.0.

Chinese Premier Li Qiang reaffirmed China’s commitment to Pakistan as a close and reliable strategic partner, highlighting the importance of strengthening bilateral cooperation across industries, technology, and trade.

The conference concluded with a ceremony for signing MoUs and joint ventures, underscoring that their implementation will mark a “long march” for Pakistan and China’s economic growth, job creation, GDP expansion, and mutual prosperity.