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| February 21, 2006 | Tuesday | Muharram 22, 1427 |
Islamabad, Beijing sign 13 accords
BEIJING, Feb 20: Pakistan and China have signed 13 bilateral agreements and memoranda of understanding (MoUs) covering trade, defence, health and energy and Beijing has agreed to provide Islamabad a soft loan of $300 million to assist reconstruction in its earthquake-hit areas.
The loan carries 1.5 per cent interest and is repayable in 20 years time. The projects to be implemented through this loan will be suggested by the Pakistan government.
Minister for Defence Production Habibullah Warriah and his Chinese counterpart signed the framework agreement on cooperation in defence areas.
Minister of State for Privatization and Investment Umer Ghuman signed the framework agreement on bolstering cooperation in the field of energy.
A memorandum of understanding was signed on Chinese cooperation in the upgradation of the Karakoram Highway.
Under two other MoUs, the two sides will cooperate in the field of earthquake and meteorological studies.
Two MoUs were signed in the fields of health and family planning.
Also signed were three documents for cooperation in the areas of vocational training, pesticide management and fisheries.
Under another memoranda of understanding, Pakistan and China will jointly launch a five-year programme for promoting bilateral trade and economic cooperation.
A general loan agreement was also signed regarding utilization of preferential buyers’ credit.
A number of ministers were present at the signing ceremony. —APP
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