LAHORE: Pakistan and China have reaffirmed their commitment to advancing the upgrade of the Main Line-1 (ML-1) railway project, agreeing to prioritise the construction of the Karachi-Hyderabad section as part of phase one, in line with the phased approach for the project’s implementation.

In a joint statement issued by the Ministry of Foreign Affairs, both nations pledged to refine and optimise the construction plan for ML-1’s Karachi-Hyderabad section and to formulate feasible and sustainable plans for financing and implementation.

Pakistan expressed its deep appreciation for China’s continued support in maintaining fiscal and financial stability. Both countries also praised the extension of the China-Pakistan Bilateral Currency Swap Arrangement and agreed to further strengthen cooperation in the financial and banking sectors. They pledged to support each other within regional and international multilateral financial platforms.

The joint statement followed an official visit to Pakistan by Chinese Prime Minister Li Qiang, who was invited by Prime Minister Shehbaz Sharif. During the visit, which took place from Oct 14 to 15, Premier Li held talks with PM Sharif and also met President Asif Ali Zardari.

Pledge to support each other on regional, global financial platforms

Both sides underscored that Pakistan-China relations have remained resilient and steadfast through the years, with their all-weather strategic cooperative partnership continuing to deepen since President Xi Jinping’s historic state visit to Pakistan in 2015.

After PM Shehbaz’s official visit to China in June 2024, the two countries enjoyed even stronger political mutual trust, more vibrant cooperation, and closer strategic coordination, the statement said.

“The Pakistani side highly commends and firmly supports major visions and propositions put forth by President Xi Jinping, such as fostering a community with a shared future for mankind, the Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative,” it said.

The two sides noted that in a transforming and turbulent world where major changes are unfolding at a faster pace, the Pakistan-China relationship is of strategic significance, and any attempt to disrupt or undermine Pakistan-China cooperation is bound to fail.

Both countries agreed to maintain the momentum of exchanges under the strategic guidance of the top leaders for the development of bilateral relations. The Pakistani side also expressed congratulations on the 75th anniversary of the founding of the People’s Republic of China.

The two sides reaffirmed their commitment to an upgraded version of CPEC by jointly building a growth corridor, a livelihood-enhancing corridor, an innovation corridor, a green corridor and an open corridor, and developing CPEC into a demonstration project of high-quality Belt and Road cooperation.

They also agreed to seek financial support to realign the Karakoram Highway’s Raikot-Thakot section under the Framework Agreement. Recognising Gwadar Port as a critical hub for regional connectivity, the two sides expressed readiness to accelerate the development of auxiliary infrastructure to attract more cargo shipments. They also aimed to resolve water and power supply issues at the port as soon as possible.

Both the nations agreed to strengthen industrial cooperation suited to local conditions, and promote international cooperation on industrial and supply chains besides showing willingness to actively encourage Chinese companies to engage in investment and cooperation in Pakistan’s mining industry.

Published in Dawn, October 17th, 2024