Pakistan and China enjoy a historic closeness. Their economic ties have entered into a new phase under the China Pakistan Economic Corridor (CPEC) when President Xi visited Pakistan in April 2015. At that occasion, in order to alleviate economic ties between the two countries, China offered a massive economic package of US$ 46 billion to address Pakistan electricity woes and build its physical infrastructure. The CPEC is now yielding positive turnarounds and helping in boosting Pakistan’s economy. After many new agreements have been drawn, the package has already exceeded to US$ 62 billion.
On the invitation of President Xi, Prime Minister Nawaz Sharif undertook an official seven-day visit to China on 12-18 May to participate in the Belt and Road Forum (BRF) for International Cooperation held in Beijing. He also visited Hangzhou and Hong Kong.Read More