With financial system in thoughts, PM Imran lands in Beijing on official journey

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BEIJING:

Prime Minister Imran Khan on Thursday arrived in Beijing on a four-day official go to the place he would be a part of different world leaders attending the opening ceremony of the Beijing Winter Olympics scheduled to be held on Friday.

Accompanied by a high-level delegation together with federal cupboard members, the premier would additionally meet the Chinese language management.

International Minister Shah Mahmood Qureshi, Finance Minister Shaukat Tarin, Planning Minister Asad Umar, Info Minister Chaudhry Fawad Hussain, Nationwide Safety Adviser Dr Moeed Yusuf, Commerce Advisor Abdul Razak Dawood and Particular Assistant on China-Pakistan Financial Hall (CPEC) Khalid Mansoor are a part of the prime minister’s delegation.

Learn extra: Go to to China ‘essential’ for Pakistan’s financial system: Tarin

On his arrival at Beijing Capital Worldwide Airport, PM Imran was welcomed by the Assistant International Minister of China Wu Jianghao. Pakistan’s Ambassador in Beijing Moeenul Haq and senior embassy officers had been additionally current.

Moreover attending the ceremony of the Beijing Winter Olympics, Imran Khan may also meet President Xi Jinping and Premier Li Keqiang.

Through the assembly, the 2 leaderships would talk about the methods to advertise bilateral commerce and financial cooperation, notably beneath the CPEC framework, moreover the regional and worldwide affairs.

Moreover the digital interactions with the outstanding Chinese language enterprise leaders, high assume tanks, intellectuals and media, different bilateral conferences are additionally on the prime minister’s agenda of the go to.

That is the prime minister’s fourth go to to China as he paid his final go to in October 2019.

PM orders removing of ‘pink tape’

Previous to his go to, PM Imran ordered the removing of pink tape hindering the Chinese language funding in Pakistan, ordering “the removing of 37 laws to make sure one-window operation for international buyers.”

Additionally learn: “IK’s go to to China proves ‘uniqueness’ of Pak-China ties”

Pakistan and China supported one another of their combat in opposition to the Covid-19 pandemic and pushed ahead high-quality improvement of CPEC, whereas Beijing had invested over $25 billion in Pakistan on CPEC tasks producing 80,000 jobs, producing 5,500KW of electrical energy and constructing over 500 kilometres of roads.

The cooperation between the 2 international locations in opposition to the Covid-19 pandemic has remained exemplary. President Dr Arif Alvi visited China in March 2020 to specific solidarity with the Chinese language individuals.

Pakistan is without doubt one of the earliest supporters and members of President Xi Jinping’s Belt and Highway Initiative (BRI). As BRI’s flagship undertaking, the CPEC enhances the Pakistani authorities’s imaginative and prescient of financial sovereignty.

China’s non-financial direct funding in international locations beneath the BRI reached $17.99 billion from January to November in 2021, up 12.7 per cent year-on-year regardless of the continued Covid-19 pandemic and gloomy world funding surroundings.

The CPEC is a transformational undertaking. Amongst 70 early-harvest tasks, 46 have been launched or accomplished with a complete funding of $ 25.four billion creating 80,000 native jobs.

‘All-weather and time-tested good friend’

PM Imran’s go to to China is probably going to assist improve funding within the energy sector, revive Pakistan Metal Mills and speed up the relocation of industries to the Particular Financial Zones beneath CPEC.

Officers mentioned the go to was primarily aimed toward sending a message to China’s adversaries that Pakistan stood behind its “all-weather and time-tested good friend”.

Nevertheless, the go to, which isn’t formally a bilateral one, can also be getting used as a possibility by Islamabad to debate some urgent bilateral points, together with CPEC.

The go to would search $Three billion in mortgage to stabilise Pakistan’s dwindling international forex reserves and increase funding in varied sectors of the financial system. The premier can also ask his Chinese language counterpart to roll over the loans taken by Pakistan for various tasks together with the vitality sector beneath CPEC.

The Pakistani authorities has already settled its points with impartial energy producers by lowering the speed of return.

New chilly struggle?

Pakistan’s relationship with China has develop into extra important in view of the brand new chilly struggle between China and the US. Though Pakistan has made it clear it will not develop into a part of “block politics”, it’s evident that Islamabad is extra inclined in the direction of Beijing in an more and more polarised world.

The proof of that’s that the prime minister is attending the opening ceremony of the Winter Olympics, which is in any other case boycotted by the US and sure different western international locations. The premier earlier skipped the Democracy Summit hosted by US President Joe Biden.

The rationale Pakistan stayed away from the summit was that the US had prolonged an invite to Taiwan, which China considers a part of its mainland territory.

Pakistan had consulted China earlier than making the ultimate name. Beijing had appreciated Pakistan’s stance on the Democracy Summit.

Observers imagine that the upcoming go to of the premier to Beijing shall be carefully watched as he wouldn’t solely meet with the Chinese language management however work together with the Russian president too.

(With extra enter from APP)

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