Prime Minister Shehbaz Sharif embarked on a five-day official visit to China to boost trade and economic cooperation. This marks his first trip to Beijing since assuming office in March.
During his visit, PM Shehbaz engaged in high-level meetings with Chinese President Xi Jinping and Premier Li Qiang. The discussions centered around upgrading the China-Pakistan Economic Corridor (CPEC) and advancing cooperation in trade, investment, security, defense, energy, space, science, and technology.
PM Shehbaz met with executives from major Chinese companies in sectors such as oil, gas, energy, ICT, and emerging technologies.
The Mainline-1 (ML-1) railway project, a priority for Pakistan, was discussed. The government seeks to spread the project’s cost over multiple phases due to IMF restrictions.
To reduce electricity costs, there may be an extension in the repayment period for Chinese Independent Power Producers (IPPs).
PM Shehbaz addressed the forum in Shenzhen, emphasizing the importance of bilateral economic ties.
Various agreements and memoranda of understanding (MoUs) are expected to be signed during the visit.
PM Shehbaz’s visit underscores the significance of the Pakistan-China partnership and lays the groundwork for enhanced collaboration.