Pakistan and China inked 35 agreements and memorandums of understanding (MoUs), worth $35 billion, on cooperation in economy, energy, banking, security and technology as the Pak-China Business Cooperation Summit concluded on Saturday. Of the 35 agreements, 13 will be implemented in the public sector and 22 in the private sector. They are expected to bring around $25-$30 billion of investment over the next five years. The signing ceremony was witnessed by Prime Minister Yousaf Raza Gilani and his Chinese counterpart Wen Jiabao, who said Beijing would “never give up” on Pakistan. Agreement and MoUs relating to investment worth $10 billion are to be implemented under the public-private partnership basis while $5 billion investment is to be undertaken under the private sector to private sector investment initiatives. According to a list handed out to journalists, the biggest deal was worth $6.5 billion to develop wind and solar power. Though not specifically mentioned, behind-the-scenes talks were expected on China building a one-gigawatt nuclear power plant as part of Pakistani plans to produce 8,000 megawatts of nuclear electricity by 2025 to make up its energy shortfall. China extended full support to Pakistan’s sovereignty, security and political integrity besides extending strong support in enhancing defence, cooperation in economic areas and the space programme, said Foreign Secretary Salman Bashir. In their address to Pak-China Business Cooperation Summit, both the premiers vowed to strengthen economic and trade relations between the two countries. Speaking on the occasion, Chinese Premier Wen Jiabao said that China was aware of Pakistan’s desire for cooperation to bridge the pressing gap in energy and would continue to cooperate in peaceful use of nuclear energy with Pakistan. He said that the Karakoram Highway, Gwadar Port and newly inaugurated Pak-China Friendship Centre were a symbol of friendship between the two countries. Prime Minister Gilani said that China had always been a generous and reliable partner in Pakistan’s national development efforts. He said that monumental projects such as the Karakoram Highway, Chashma power plants, Heavy Mechanical and Electrical Complexes, the Gwadar Port, were all examples of the outstanding cooperation between our two countries, he added. “We have established an all-weather friendship and engaged in all-round cooperation. The China-Pakistan relationship has withstood the test of time and changes in the international landscape,” Wen told a lunch in his honour. “Under no circumstances we will give up on our commitment to pursuing this partnership.” Wen pledged China’s full support in the wake of the floods, saying Beijing would help the country “lay a new solid foundation for you to achieve self-owned, stable and sustainable development.” He inaugurated the Pak-China Friendship Centre built as a monument to Pak–China friendship and held talks with opposition leader Nawaz Sharif and senior figures in the military.
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