International

China, Pakistan ink pacts ahead of Belt and Road Forum summit

Chinese Premier Li Keqiang and Pakistani Prime Minister Nawaz Sharif attend a signing ceremony at the Great Hall of the People on May 13, 2017 in Beijing.

Chinese Premier Li Keqiang and Pakistani Prime Minister Nawaz Sharif attend a signing ceremony at the Great Hall of the People on May 13, 2017 in Beijing.   | Photo Credit: Getty Images

The pacts were signed in the presence of Pakistan Prime Minister Nawaz Sharif and Chinese Premier Li Keqiang ahead of the much-publicised Belt and Road (B&R) Forum.

China and Pakistan on Saturday signed a number of infrastructure agreements to boost cooperation on the $46 billion China-Pakistan Economic Corridor, including for the development of the strategic Gwadar port, ahead of the two-day Belt and Road summit here.

The pacts were signed in the presence of Pakistan Prime Minister Nawaz Sharif and Chinese Premier Li Keqiang ahead of the much-publicised Belt and Road (B&R) Forum beginning on Sunday.

The pacts deal with increasing bilateral cooperation within the framework of China’s ambitious Silk Road project, upgrading the main railway track between Karachi and Peshawar — referred to as ML-1 or Main Line-1, and an MoU for the establishment of a dry port in Havelian, Radio Pakistan reported.

Technical cooperation

Three agreements were signed pertaining to economic and technical cooperation worth 3.4 billion yuan (about $490 million) for the strategic Gwadar port in southern Pakistan and East Bay expressway, a 19 km controlled access road under construction in Gwadar.

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Printable version | Feb 26, 2020 5:51:14 AM | https://www.thehindu.com/news/international/china-to-invest-50-billion-to-develop-indus-river-cascade-report/article18445984.ece

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