PM Shehbaz commends CIDCA’s pivotal role in supporting developing countries

BEIJING, June 06 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif met the Chairman of China International Cooperation Agency (CIDCA) Ambassador Luo Zhaohui in Beijing on Thursday.

The Prime Minister appreciated the robust support of CIDCA for CPEC projects and for Pakistan’s socioeconomic development, particularly the Pakistan-China Friendship Hospital, the Desalination Plant in Gwadar, and the New Gwadar International Airport.

Prime Minister Shehbaz Sharif and Chairman CIDCA exchanged views on the unique and enduring China-Pakistan friendship and the promotion of pragmatic cooperation driven by common development, strategic trust and mutual benefit. They also discussed the mutually reinforcing relationship between development and security.

Terming China-Pakistan Economic Corridor (CPEC) as the hallmark of ironclad friendship between Pakistan and China, they noted that the Joint Working Group on Socioeconomic Development under the CPEC had yielded positive results. They also expressed the confidence that the momentum would continue in the CPEC phase II to improve lives and livelihoods of the people. 

Prime Minister underlined that the governments and the peoples of both countries had always stood in solidarity with each other during times of natural disasters and calamities. He commended CIDCA’s pivotal role in supporting developing countries and particularly Pakistan during the Covid-19 pandemic, the post-2022 flood reconstruction and grant of polio vaccines.

Chairman CIDCA expressed commitment to further deepening of China-Pakistan cooperation across diverse fields. He also underlined the need to expand bilateral partnership in infrastructure development, climate change response and human resource development, including under the under the ambit of the Belt and Road Initiative (BRI) and the Global Development Initiative (GDI).

Meanwhile Prime Minister Muhammad Shehbaz Sharif met Dr. Wu Fulin, Chairman of China Export-Import Bank (EXIM) in Beijing on Thursday. 

Prime Minister highlighted the reform agenda of the Government of Pakistan, with its focus on governance, taxation, and ease of doing business to attract Foreign Direct Investment (FDI). He said that the reform measures had already started to yield results as food inflation had been successfully tapered, current account deficit reduced and public debt brought down to a more sustainable level.

Prime Minister Shehbaz Sharif appreciated the EXIM bank’s continued support for the modernization of industries, agriculture and IT sectors of Pakistan. He also discussed possible role of the CEXIM bank in financing Pakistan-China joint venture projects and trade financing as part of efforts to boost Pakistan’s exports to international markets.

Chairman of EXIM Bank underscored the critical role of economic and financial cooperation under CPEC phase II and CEXIM bank’s strategic partnership with Pakistan and support to advance sustainable development under the concept of ‘shared prosperity’.