China, Pakistan to jointly build splendid future: Peoples Daily
BEIJING: The most salient features of Premier Wens just-ended trip to Pakistan include more strong economic elements that have been injected into the bilateral relations, especially the post-disaster pragmatic cooperation cited as the most urgent mission, and the enhanced, resolute support China will render to Pakistan in the latters pursuit of sustainable development, reports Peoples Daily.
During the visit,
China and Pakistan signed 13 trade and commercial agreement worth about 20 billion US dollars. And the
Chinese side will continue to support the Pakistans victims compensation scheme to provide 10 million US dollars in cash, for a total of 400 million dollars of preferential loans or preferential export buyers credit, the On-line edition of the paper said.
Premier Wen also said China is ready to promote the construction of the Sino-Pakistani free trade area in an all-round way, and to send a trade and investment delegation to Pakistan for purchases purpose, so as to raise the
bilateral trade volume to top the 10 billion dollars mark as early as possible.
In addition, the two sides agreed to establish an annual meeting mechanism between the leaders of China and Pakistan, and Foreign Ministers regular dialogue mechanism, to further customize the high-level political consultations between the two countries.
During his visit, Premier Wen met with Pakistani President Asif Ali Zardari and the two leaders agreed to boost the traditional China-Pakistan friendship. Wen said China values its time-tested, all-weather friendship with Pakistan and hopes to expand bilateral cooperation.
In his address to the China-Pakistan Business Cooperation Summit in Islamabad, Wen said the deals reflected the huge potential for expanding bilateral economic and trade cooperation.
A major deal is aimed at developing wind and solar power; another one is on remote sensing satellite between the Pakistan Space and Upper Atmosphere Research Commission and the China Great Wall Industry Corporation.
Hours before concluding his trip, Premier Wen addressed a joint session of Pakistans parliament under the theme of Shaping the Future Together Through Thick and Thin, and his genuine speech were repeatedly interrupted by thunderous applauses.
In spite of vicissitudes in the world setup following the fifties of the 20th century, the Chinese government has always attached great importance to its relations with Pakistan, and so the Sino-Pakistani relationship has maintained a sound momentum.
For a very long period of time, bilateral ties between China and Pakistan have enjoyed the support of two major pillars in the political and military realms. But bilateral economic relations have far lagged behind nevertheless.
Since the start of the 21st century, however, economic factors in bilateral relationship have been on steady rise. In recent years, Pakistan has become Chinas largest investment destination and second biggest trade partner in South Asia as well as the first to recognize Chinas market economic status, and the first to set up the first joint Sino-Pakistan venture overseas; and the first successful economic zone (SEZ) Haier Industrial Park has also settled in Pakistan.
But to date, the two Asian economies with a total population of an approximately 1.5 billion very much want to take their bilateral trade to 10 billion dollar mark. To study the causes involved, the lack of hematopoietic capacity, or a deficiency of capital, is a major obstacle in the way of economic growth in Pakistan and, moreover, the catastrophic flooding in summer further undermined the very foundation for the nations economic growth.
The United Nations estimated that the disastrous floods at least caused Pakistan an economic loss of around 20 billion dollars, an equivalent to over 12 per cent of its GDP.
Meanwhile, World Food Program (WFP) officials has said that as many as 21 million people in Pakistan have been affected by the nations worst flooding in 80 years, and six million people, or half of the flood victims, desperately need emergency aid; Pakistan is currently suffering from an unprecedented food crisis. And there is a growing view, in the Pakistan Planning commission, that the nations rehabilitation and reconstruction will likely exceed 30 billion dollars in the next five years.
One indisputable fact is that Sino-Pakistani bilateral ties will likely suffer from a serious stamina deficiency problem. In view of this reason, Premier Wen has firmly grasped the issue of the post-flood reconstruction with a substantial input in Pakistani economy, and it is of particular great importance, and this will surely inject a powerful impetus into the sustainable, all-round growth of Sino-Pakistani relations.