Chinese foreign minister Wang Yi visits Pakistan, reaffirms 'all-weather' partnership; says CPEC increased economic growth
Chinese foreign minister Wang Yi on Saturday rejected concerns that China was burdening Pakistan with debt through its investments in the $50 billion CPEC.
Islamabad: Chinese foreign minister Wang Yi on Saturday rejected concerns that China was burdening Pakistan with debt through its investments in the $50 billion China Pakistan Economic Corridor (CPEC), as he reaffirmed China's all-weather strategic cooperative partnership with the country.
Wang's remarks came as he met his Pakistani counterpart Shah Mahmood Qureshi and discussed various issues of mutual interest, including the CPEC.
Wang, who arrived in Pakistan on Friday on three-day visit, held one-on-one and delegation-level talks with Qureshi, according to Pakistan Foreign Office.
He said that the CPEC helped create more than 70,000 jobs in Pakistan and contributed to the national growth.
"The CPEC has not inflicted a debt burden on Pakistan, rather when these projects get completed and enter into operation, they will unleash huge economic benefits... and these will create considerable returns to the Pakistani economy," Wang said.
He said Pakistan's 47 percent debt was due to loans from the International Monetary Fund (IMF) and the Asian Development Bank (ADB).
Wang further said that the (CPEC), which is a flagship project of Chinese president Xi Jinping's Belt and Road Initiative (BRI), increased economic growth.
Wang's remarks came after some analysts warned of the Chinese debt trap.
"We have decided to strive for a greater balance in two-way trade. China will earmark amounts of subsidiaries to encourage imports from Pakistan and will send more tread coalition teams to Pakistan. We will also broaden the market access to Pakistan's competitive agricultural products," he said.
Wang said that the two sides decided to complete negotiations on the Free Trade Agreement (FTA) by the end of this year and China would help in developing a local manufacturing center in Pakistan.
Qureshi said that Pakistan was committed to CPEC which is a "proof of how seamless the belt and road initiative can become with the help of all stakeholders."
He said Wang extended an invitation to Prime Minister Imran Khan to visit an expo in China in November as a guest of honour.
Chinese president Xi and Chinese premier Li Keqiang were also invited to visit Pakistan, he said.
The foreign office said in a statement that following one-on-one meeting, the two leaders held an in-depth exchange of views on the entire gamut of bilateral relationship including economic cooperation, the CPEC, defence cooperation and cultural and educational cooperation.
Wang, who is also the Chinese State Councilor, congratulated Qureshi on his appointment as the foreign minister.
While reaffirming the "all-weather strategic cooperative partnership" between the two countries, Wang underlined that Pakistan will always be a priority for China in its foreign policy.
"The state councilor reiterated that Pakistan was China's 'Iron brother' and the bilateral partnership served as an anchor for regional peace and stability. China will work with Pakistan to prioritise CPEC projects so as to benefit all regions of Pakistan," the foreign office said.
Qureshi reciprocated the sentiments of the state councilor and reaffirmed the strategic cooperative partnership between the two countries. He underlined that regardless of political changes, the bilateral relationship will remain as strong as ever.
"The foreign minister highlighted the significance of the CPEC for the socio-economic development of Pakistan and stressed that it will always remain a national priority for Pakistan," it said.
During the meeting, the regional situation also came under discussion.
In addition to meeting his Pakistani counterpart, Wang will also meet Prime Minister Imran Khan, outgoing president Mamnoon Hussain, National Assembly Speaker Asad Qaiser and Chief of Army Staff Gen Qamar Bajwa. He is also likely to meet President-elect Arif Alvi.
Alam's unbeaten 108, along with Imran Butt's painstaking 91 earlier in the day, guided Pakistan to 374-6 at the close, giving them a lead of 198 over Zimbabwe's first innings total of 176.
Zimbabwe vs Pakistan: Mohammad Rizwan shines as visitors win third T20I by 24 runs and clinch series 2-1
The batting of Rizwan and Azam (52) and the bowling of recalled Hasan Ali (4-18) ensured Pakistan would not suffer the humiliation of losing twice to minnows Zimbabwe within three days.
Zimbabwe vs Pakistan: Azhar Ali, Abid Ali score tons before Blessing Muzarabani fights back on Day 1 of 2nd Test
Abid (118 not out) and Azhar (126) put on 236 for the second wicket before tall fast bowler Blessing Muzarabani brought Zimbabwe back into the match by taking three wickets with the second new ball.