Chinese ambassador meets Aurangzeb: CPEC’s next phase to focus on monetisation of earlier gains

ISLAMABAD: Chinese Ambassador Jiang Zaidong called on Finance Minister Muhammad Aurangzeb to discuss key matters pertaining to economic cooperation and bilateral relations between Pakistan and China, at the Finance Division, Tuesday, said a press release.

The ambassador of China extended felicitations to Aurangzeb upon his appointment as federal minister for finance and revenue and expressed confidence towards further strengthening of economic ties between the two countries.

The Minister for Finance expressed gratitude towards the Chinese leadership for their invaluable support to Pakistan in various sectors, particularly highlighting the roll-over of SAFE deposits and the refinancing of commercial loans, which have significantly contributed to Pakistan’s economic stability.

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He further emphasized the paramount importance of the China-Pakistan Economic Corridor (CPEC) in Pakistan’s growth strategy and overall economic recovery.

Both sides agreed to advance their collaboration in various sectors, including industrial zones, agriculture, mineral and mining, as well as renewable energy. It was discussed that the next phase of CPEC would focus on monetisation of gains made during the first phase.

Concluding the meeting, both sides reiterated the desire to collaborate closely to further deepen and enhance the economic relationship between the two countries, reflecting the strong bonds of friendship and cooperation that exist between Pakistan and China.

Copyright Business Recorder, 2024