Prime Minister Shehbaz Sharif of Pakistan embarked on a mission to secure investments from China to bolster Pakistan’s struggling economy. During his five-day official visit, Sharif assured Chinese investors of full security, particularly in light of recurring terrorist attacks targeting Chinese personnel.
He emphasized his government’s commitment to providing foolproof security measures to safeguard the lives of Chinese workers in Pakistan, promising security even beyond that afforded to their own citizens.
Greetings from Beijing! I am glad to return to this magnificent city to meet the Chinese leadership, engage in meaningful dialogues, establish new friendships, and promote bilateral and regional cooperation for a prosperous and shared future. ???? pic.twitter.com/NxbZtwGD0s
— Shehbaz Sharif (@CMShehbaz) June 5, 2024
Addressing the Pakistan-China Business Forum in Shenzhen, Sharif highlighted Pakistan’s rich mineral deposits, estimated at around USD 10 trillion, juxtaposing them with the country’s modest exports of USD 30 billion.
He urged Chinese investors to consider opportunities in Pakistan’s mining sector, emphasizing the potential for converting mineral resources into valuable exports.
Additionally, he drew comparisons between the economic development of Shenzhen, boasting a GDP of USD 500 billion, and Pakistan’s GDP of USD 380 billion, underscoring the vast untapped potential for growth.
During my visit to @Huawei HQ in Shenzhen today, I was impressed by latest innovative technologies that are changing the world and the way we live. Discussed how Huawei and Pakistan can collaborate to build a better, digital future together.
Reiterated our commitment to… pic.twitter.com/dM3WlkuSqI— Shehbaz Sharif (@CMShehbaz) June 5, 2024
In discussions with Chinese President Xi Jinping and other officials in Beijing, Sharif sought further investments and aid to address Pakistan’s economic challenges.
Pakistan’s economy is facing significant challenges, prompting the government to request a bailout package from the International Monetary Fund (IMF) ranging between USD 6 and USD 8 billion.
Sharif’s visit to China coincides with the end of general elections in India, highlighting the strategic dynamics in the region. Pakistan views China as a trusted ally, with Sharif emphasizing the enduring friendship between the two countries.
China’s commitment to the China-Pakistan Economic Corridor (CPEC), a flagship project of the Belt and Road Initiative (BRI), has been a focal point of discussions.
However, concerns over security and stability in Pakistan have raised apprehensions about further investments in the project’s second phase.
Despite challenges, Sharif remains optimistic about deepening economic ties between Pakistan and China, emphasizing the shared goals of prosperity and development.
As both countries work to navigate complex geopolitical dynamics, Sharif’s visit underscores the importance of bilateral cooperation in advancing mutual interests and regional stability.
