Wen arrives in Pakistan bringing US$19b deals
Source: Agencies |
December 18, 2010, Saturday
|
Print Edition
Print Edition
Chinese Premier Wen Jiabao arrived in Pakistan yesterday armed with multi-billion dollar deals.
Wen, who flew in after a two-day visit to India, is expected to sign off on trade and business deals worth about US$19 billion, a senior Pakistan official said. Wen is also likely to pledge Chinese help to develop a strategic port.
The two sides are expected to sign 14 agreements in areas of trade, health, education, agriculture, energy and infrastructure worth between US$10 billion and US$14 billion, the government official said.
Today, businessmen from the two countries are expected to ink more deals worth about US$4.8 billion, the official said.
Some of the agreements between the governments would come into force immediately while others would be implemented between 2011 and 2016, he added.
Two-way trade during January-September this year stood at US$6.2 billion, an increase of nearly 30 percent compared to the same period of last year, according to official figures. The two countries aim to increase their bilateral trade to US$15 billion by 2015.
The Chinese leader's plane landed under heavy security at a Pakistan air base yesterday afternoon, where a red carpet was rolled out and a full honor guard was on display. Pakistan's top civilian and military leaders, and nearly its full Cabinet, were on hand to greet Wen and his hundreds-strong delegation.
Wen and his Pakistani counterpart Yousuf Raza Gilani held talks in Islamabad late yesterday.
Wen said the two nations enjoy a profound friendship that laid a solid foundation for bilateral relations.
"I hope to tell the world through my visit that China and Pakistan have been good friends, and we will continue to be so in the future," Wen said.
The Chinese premier said that to enhance bilateral friendly ties not only meets the fundamental interests of both countries but also contributes to peace and stability in Asia and the world.
Gilani said that China is the best and most-trusted friend of Pakistan, and he was proud of the growth of their bilateral all-weather friendship.
During Wen's three-day stay in Islamabad, he is due to meet Pakistani leaders and representatives who have contributed to bilateral friendship.
He will also address a joint session of Pakistan's parliament and inaugurate the China-Pakistan Friendship Center, which was set up to facilitate exchanges among students, media and academic circles.
A key topic will be Pakistan's deep-water, strategic Gwadar port on the Arabian Sea coast, in which China has already invested US$200 million.
Singapore's state-owned PSA International Ltd was given a 40-year contract to run the port, but Pakistan is contesting that in court, and wants more Chinese involvement, officials said.
The port will help Pakistan, struggling to revive its debt-laden economy, to become a conduit for trade to landlocked Afghanistan and Central Asia. It would also enable China to ship oil from the Gulf to its interior more directly.
Pakistan believes China can help with a pressing need: providing electricity for its people. Islamabad has agreed in principle to purchase two nuclear reactors from China, and the two countries are working out the financial details.
Wen, who flew in after a two-day visit to India, is expected to sign off on trade and business deals worth about US$19 billion, a senior Pakistan official said. Wen is also likely to pledge Chinese help to develop a strategic port.
The two sides are expected to sign 14 agreements in areas of trade, health, education, agriculture, energy and infrastructure worth between US$10 billion and US$14 billion, the government official said.
Today, businessmen from the two countries are expected to ink more deals worth about US$4.8 billion, the official said.
Some of the agreements between the governments would come into force immediately while others would be implemented between 2011 and 2016, he added.
Two-way trade during January-September this year stood at US$6.2 billion, an increase of nearly 30 percent compared to the same period of last year, according to official figures. The two countries aim to increase their bilateral trade to US$15 billion by 2015.
The Chinese leader's plane landed under heavy security at a Pakistan air base yesterday afternoon, where a red carpet was rolled out and a full honor guard was on display. Pakistan's top civilian and military leaders, and nearly its full Cabinet, were on hand to greet Wen and his hundreds-strong delegation.
Wen and his Pakistani counterpart Yousuf Raza Gilani held talks in Islamabad late yesterday.
Wen said the two nations enjoy a profound friendship that laid a solid foundation for bilateral relations.
"I hope to tell the world through my visit that China and Pakistan have been good friends, and we will continue to be so in the future," Wen said.
The Chinese premier said that to enhance bilateral friendly ties not only meets the fundamental interests of both countries but also contributes to peace and stability in Asia and the world.
Gilani said that China is the best and most-trusted friend of Pakistan, and he was proud of the growth of their bilateral all-weather friendship.
During Wen's three-day stay in Islamabad, he is due to meet Pakistani leaders and representatives who have contributed to bilateral friendship.
He will also address a joint session of Pakistan's parliament and inaugurate the China-Pakistan Friendship Center, which was set up to facilitate exchanges among students, media and academic circles.
A key topic will be Pakistan's deep-water, strategic Gwadar port on the Arabian Sea coast, in which China has already invested US$200 million.
Singapore's state-owned PSA International Ltd was given a 40-year contract to run the port, but Pakistan is contesting that in court, and wants more Chinese involvement, officials said.
The port will help Pakistan, struggling to revive its debt-laden economy, to become a conduit for trade to landlocked Afghanistan and Central Asia. It would also enable China to ship oil from the Gulf to its interior more directly.
Pakistan believes China can help with a pressing need: providing electricity for its people. Islamabad has agreed in principle to purchase two nuclear reactors from China, and the two countries are working out the financial details.
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