Pakistan, China sign $2 billion agreements

ISLAMABAD: Pakistan and China have signed 20 agreements worth $2 billion in the field of energy, communication, social services, agriculture, health, education and infrastructure, state media reported today.

The agreements were signed yesterday as the two-day meet of the China Pakistan Economic Corridor (CPEC) Karamay- Xinjiang Forum concluded in China.

Associated Press of Pakistan reported that the MoUs were signed in sectors of energy, communication, social services, agriculture, health, education and infrastructure at the Karamay Government Municipal Auditorium.

A consortium of 35 Chinese companies was also formed that will invest in Pakistan, pushing forward the CPEC.

The next meeting of the forum would be held in October this year in Beijing.

Minister for Planning, Development and Reforms Ahsan Iqbal proposed cooperation in space technology between Pakistan and China as part of the historic declaration, saying it will take the bilateral relations to new heights.

He assured the Chinese that Pakistan was committed in implementation of the economic corridor in letter and spirit.

"I give an open invitation to Chinese firms to contact us directly in case of any problem they face in Pakistan; we will eliminate all obstacles in the way of CPEC," he said.

The CPEC was announced when Chinese President Xi Jinping visited Pakistan earlier this year. The $46 billion ambitious project would link western China with Gawadar seaport on the Arabian Sea in Balochistan province.