ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar will leave for China next week to hold important discussions on bilateral trade, cooperation and upgradation of multi-billion-dollar infrastructure corridor, state-run media reported on Sunday.
Beijing has been one of Islamabad’s most reliable foreign partners in recent years, readily providing financial assistance to bail out its often-struggling neighbor. In July last year, China granted Pakistan a two-year rollover on a $2.4 billion loan, giving the debt-saddled nation much-needed breathing space as it tackled a balance-of-payments crisis.
Dar will leave for Beijing on Monday for a four-day official trip during which he would also co-chair the 5th Pakistan-China Foreign Ministers’ Strategic Dialogue with Chinese Foreign Minister Wang Yi.
“The two sides will comprehensively review Pakistan-China bilateral relations including economic and trade cooperation, high-level exchanges and visits; upgradation of China-Pakistan Economic Corridor and future connectivity initiatives,” the state-run Radio Pakistan said.
China has invested over $65 billion in energy and infrastructure projects as part of the China-Pakistan Economic Corridor (CPEC). The project is part of President Xi Jinping’s ambitious Belt and Road Initiative. CPEC is designed to provide China with a shorter and safer trading route to the Middle East and beyond through Pakistan.
Since its initiation in 2013, CPEC has seen tens of billions of dollars funneled into massive transport, energy and infrastructure projects. But the undertaking has also been hit by Pakistan struggling to keep up its financial obligations as well as attacks on Chinese targets by militants.
“They will also exchange views on the unfolding regional geopolitical landscape and bilateral cooperation at the multilateral fora,” the state-run media reported.
Foreign Office Spokesperson Mumtaz Zahra Baloch said Dar’s visit to the country reflects the importance the two countries attach to deepening their “All-Weather Strategic Cooperative Partnership.”
Dar’s visit to China takes place in the backdrop of Pakistan’s moves to seek foreign investment from its allies as it tries to navigate an economic crisis that has seen its reserves dip to low levels and its currency weaken against the dollar.
Islamabad has seen visits by diplomatic and business delegations from Saudi Arabia, Japan and Uzbekistan in recent weeks. Prime Minister Shehbaz Sharif has vowed to ensure an enabling business environment in Pakistan for foreign investors and traders.
