ISLAMABAD – Prime Minister Shehbaz Sharif said Pakistan and China have signed joint ventures worth $1.5 billion and Memorandums of Understanding (MoUs) worth $7 billion.
“Together, these agreements amount to a historic $8.5 billion in economic cooperation between the two countries. We’re ready to launch CPEC 2.0,” the premier said in a statement shared on social media.
The statement comes after the premier wrapped up his visit to China where held key meetings with Chinese President Xi Jinping, Premier Li Qiang, Russian President Vladimir Putting and others.
A day earlier, Pm Shehbaz Sharif assured the Chinese investors to remove all red tape hiccups in investments procedures as Pakistan and China business firms signed massive $4.2 billion worth 21 memorandums of understandings in different areas.
The prime minister unveiled a bold new vision for Pakistan-China economic cooperation, announcing the formal launch of “CPEC 2.0” during his keynote address at the Second Pakistan-China B2B Investment Conference held in Beijing.
Welcoming the high-level delegates, Prime Minister Shehbaz Sharif described the forum as a reflection of the iron-clad brotherhood between Pakistan and China.
Addressing concerns about bureaucratic delays, Prime Minister Shehbaz Sharif issued a clear and direct message: “We will not tolerate a second’s delay. I recently ensured that a Chinese entrepreneur was facilitated within 24 hours. That’s the level of commitment I am talking about.”
He reassured the Chinese delegation of Pakistan’s unwavering commitment to investor facilitation, stating that Chinese investors will be treated as partners and that “Pakistan is your second home, just as China is ours.”
Security of Chinese nationals in Pakistan, he said was a top priority, adding “the safety of Chinese citizens is paramount.”
“This is one of the largest business conferences I have attended during my visit to this great country. Our relationship with China is unmatched, higher than the Himalayas, deeper than the deepest oceans, sweeter than honey and stronger than steel,” said the prime minister.
Referring to the China-Pakistan Economic Corridor (CPEC) agreement signed in 2015 during President Xi Jinping’s historic visit to Pakistan, Prime Minister Shehbaz Sharif credited the first phase of CPEC with transforming Pakistan’s energy and infrastructure landscape.
“We were facing up to 20 hours of power outages daily. Today, thanks to President Xi’s dynamic and visionary leadership, Pakistan became energy self-sufficient. That was the turning point,” he noted.
PM Shehbaz Sharif announced the launch of CPEC 2.0, which will shift focus toward business-to-business (B2B) investments in agriculture, IT and AI, minerals, and industrial relocation.
