Prime Minister Imran Khan’s Visit To China

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Prime Minister Imran Khan arrived in Beijing for a four-day official visit, during which he will attend the Winter Olympics opening ceremony and meet with Chinese Leadership. Over 20 Pakistani ministers and officials will accompany the prime minister to the Olympics opening ceremony.
Federal Minister for Information and Broadcasting Fawad Chaudhry said that the purpose of PM Imran Khan’s visit to China is to represent Pakistan in the Beijing Winter Olympics and convey goodwill gestures at its opening ceremony on Pakistan’s behalf. The premier will also meet Chinese industrialists and businessmen on the sidelines of the visit, after which different industrial units will shift to Pakistan. Fawad also said that PM Imran Khan’s China tour would further enhance the bilateral relations between Pakistan and China.
Pakistan and China are scheduled to sign a five-year Industrial Cooperation Framework Agreement to re-energise the China-Pakistan Economic Corridor (CPEC).
According to the text of the framework agreement, Pakistan has agreed to take responsibility for the Chinese lives and property, in addition to providing “special beneficial support for water and power supply which are necessary to develop SEZs (special economic zones), and provide efficient and favourable policy support for Chinese enterprises which are intending to invest or have already invested in the Pakistani SEZs”.
During PM Imran’s visit, Pakistani authorities will seek a bigger fiscal package, including contribution in a new fund – the China-Pakistan Industrial Cooperation Fund – to facilitate the relocation of Chinese industries to Pakistan, according to sources and draft of the agreement.
According to the draft agreement, China has advantages in experience, technology, financing, and industrial capacity, while Pakistan enjoys favourable conditions in natural resources adequate labour, manpower, quality infrastructure, access to the international markets and optimal policies for industrial development.
The main objective of the framework agreement is to enhance the industrial competitiveness of Pakistan by encouraging Chinese enterprises to build factories and set up businesses in the country. The focus of the partnership is to improve skills development, enhance labour productivity and encourage joint research and development.
Pakistan is also seeking a $4 billion rollover of Chinese loans that are maturing in the next few months, including $2 billion in late March.
The Prime Minister’s visit is extremely important for the country. The visit’s principal goal is to stabilize the country’s dwindling foreign currency reserves and promote investment in various sectors of the economy.

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