Shehbaz Sharif, the Pakistan Prime Minister will be the first foreign leader to visit China to meet Xi Jinping, days after he was announced Communist Party of China (CPC) general secretary paving the path for his third-term as president.
This is also Sharif’s first visit to Beijing since assuming office in April 2022. Pakistan foreign minister Bilawal Bhutto Zardari and a high-level delegation will travel to Beijing with Shehbaz. There will also be talks between him and premier Li Keqiang.
“Prime Minister Muhammad Shehbaz Sharif will visit China on 1-2 November at the head of a high-level delegation, including Foreign Minister Bilawal Bhutto Zardari. The Prime Minister is undertaking the visit at the invitation of HE Li Keqiang, Premier of the State Council of the People’s Republic of China,” the Pakistan foreign ministry said in a statement accessed by news agency ANI.
“The visit is also expected to advance the wide-ranging bilateral cooperation agenda with the conclusion of a number of MoUs/Agreements in diverse areas, and consolidate the momentum of CPEC cooperation in the wake of the 11th meeting of the CPEC Joint Cooperation Committee (JCC) on October 27,” the Pakistan foreign ministry said.
Pakistan and China are planning to start three new corridors in addition to the multi-billion-dollar China-Pakistan Economic Corridor (CPEC). Both nations invited third countries to join the CPEC, angering India as its projects pass through areas of Kashmir forcibly occupied by Pakistan.
China and Pakistan will also launch health and digital corridors during Sharif’s visit, the News International said in a report.
The visit comes shortly after Islamabad requested its all-weather ally Beijing to roll over its $6.3 billion debt as the economy struggles to cope in the aftermath of the devastating floods.
The debt shall mature in the next eight months and a new proposal which shall seek a fresh Chinese loan to repay the maturing bilateral debt during FY 2022-23 is also on the cards. The nation plans to arrange $34 billion in the current fiscal year in order to address its debt and external trade-related obligations.
Chinese ambassador to Pakistan Nong Rong and finance minister Mohammad Ishaq Dar discussed in a meeting the issue of rollover and refinancing of the $6.3 billion commercial loans and the central bank debt.
Read all the Latest News here