Ministry of Planning
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Dated : 13 March 2017

Belt & Road Forum; Pak China Sign CPEC Agreements And MoUs

Event Venue : Beijing,China

Dated : 13 March 2017

The Prime Minister of Pakistan Mr. Muhammad Nawaz Sharif this Saturday Morning held meetings with Chinese Premier Li Keqiang in The Great Hall of the People, Beijing. The two sides discussed progress on China Pakistan Economic Corridor (CPEC), – an important part of Chinese President Xi Jinping’s One Belt, One Road vision.
Later, a number of MOUs were signed that included;
MEMORANDUM OF UNDERSTANDING BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE ISLAMIC REPUBLIC OF PAKISTAN ON COOPERATION WITHIN THE FRAMEWORK OF THE SILK ROAD ECONOMIC BELT AND THE 21ST CENTURY MARITIME SILK ROAD INITIATIVE
AGREEMENT ON IMPLEMENTATION OF THE UPGRADATION OF ML1 AND THE ESTABLISHMENT OF HAVELIAN DRY PORT IN PAKISTAN BETEEN NDRC AND MPDR
GRANT AGREEMENT ON THE GWADAR AIRPORT
Speaking to the reporters after the meeting, the Minister for Planning Development and Reform, Prof Ahsan Iqbal briefed that it was a historical day as signing of the MoUs for cooperation within the frame work of the silk road will provide opportunities for the two countries to work together to form synergy between the Belt and Road Initiative and Vision 2025 of Pakistan.
Minister Iqbal further said that the signing of MoUs would also enhance policy coordination and deepen mutually beneficial cooperation, especially to jointly promote the construction of China-Pakistan Economic Corridor (CPEC) in a steady manner.
"The agreements would realize peaceful development and common prosperity of the two Participants and would promote cooperation" maintained the Minister.
He informed that the two countries would promote the bilateral cooperation, guided by the principles of wide consultation, joint contribution and shared benefits, the two Participants will respect each other’s core interests and major concerns and deepen political mutual trust. Further it was agreed that in accordance with the vision of cooperation, development and win-win progress under the Belt and Road Initiative, the two countries will make full use of existing bilateral cooperation mechanisms, multilateral mechanisms that they have both joined, such as CPEC, to form synergy, give each other support and learn from each other so as to complement and fully display each other’s strengths.
Minister Ahsan Iqbal also informed the media that MoUs on the implementation of up gradation of the ML1 Project and establishing the Havelian Dry port are a step towards the implementation of the strategic Project in an orderly manner.
Both, the Ministry of Planning Development and Reform, Pakistan and NDRC (National Development and Reform Commission) China, being the focal agencies, will provide support, and guidance to the relevant companies for early commencement of the Project through the signed MoUs.
The Minister Iqbal also stated that it is a historical day for Gawadar as the grant agreement for the GWADAR Airport has been signed paving the way for commencement of the Project in the year 2017.
He also briefed that the ML1 project will not only generate thousands of jobs for Pakistani Workforce but will also accelerate the engine of growth and development in the Country. With the development of Gawadar, it will be become the Hub of trade for the region.
The Minister also informed that many other MoUs are being signed in the sidelines of the Belt and Road Forum on various sectors including Defense.