Pakistan and China on Friday signed six bilateral agreements including a Currency Swap Agreement to further bolster their existing trade and economic co-operation. The agreements worth over US $700 million were signed between the two sides at a ceremony held here at the PM House and was also witnessed by Prime Minister Syed Yusuf Raza Gilani and State Councillor of China Dai Bingguo.
The Supplementary Agreement on Extension of Five Year Development Programme on Trade and Economic Co-operation between the two countries was signed by Secretary Economic Affairs Division, Wajid Rana and Vice Minister of the Chinese Ministry of Commerce, Li Jinzao on behalf of their respective governments. The Inter-Governmental Framework Agreement on Additional Financing for Improvement of KKH ($90 million) between the two countries was also signed by Wajid Rana and Li Jinzao.
The Currency Swap Agreement was signed by Governor State Bank of Pakistan, Yaseen Anwar and Vice Governor of the People's Bank of China, Du Jinfu. The Concessional Loan Agreement on Additional Financing for Improvement of KKH ($90 million) between the Economic Affairs Division (EAD) and the Export-Import Bank (EXIM Bank) of China was signed by Secretary EAD, Wajid Rana and the Vice Governor of EXIM Bank, Sun Ping.
The Loan Agreement on Provision of $259 million Preferential Buyer's Credit for KKH (Karakorum Highway) Realignment at Attabad between EAD and the EXIM Bank of China was also signed by Wajid Rana and Sun Ping. The Loan Agreement on Export Credit Facility of $464 million for Power Plant between Guddu Power Company and EXIM Bank of China was signed by CEO Central Power Generation Company Limited (GENCO- II), Aslam Sheikh and the Vice Governor of China's EXIM Bank, Sun Ping.