Inside Financial Markets



BEIJING, Feb 20, 2014 (Xinhua via COMTEX News Network) — China and Pakistan agreed here on Thursday to facilitate the construction of a China-Pakistan economic corridor, with a focus on cooperation in energy, industrial parks and transportation infrastructure.

The consensus was reached in a meeting between Chinese Premier Li Keqiang and visiting Pakistani President Mamnoon Hussain at the Great Hall of the People.

Both agreed to speed up the building of the economic corridor and facilitate key projects in energy and infrastructure construction.

Calling the construction of the corridor an important strategy of both countries, Li said it has opened up new opportunities for substantial cooperation between both sides.

He hoped the two countries would seriously implement major cooperation projects such as power and new energy schemes, manage well the port of Gwadar, and speed up road and railway projects to promote all-round development of the economic corridor.

The corridor connecting Kashgar in China’s Xinjiang Uygur Autonomous Region to the southwestern Pakistani port of Gwadar was proposed in an agreement between the two countries reached during Premier Li’s visit to Pakistan in May 2013.

Experts forecast that the project might include road and railway, in addition to an optical-fiber link and even a pipeline.

“The quality of Chinese equipment is guaranteed,” said the premier.

He also called on Pakistan to take effective measures to ensure the safety of Chinese people and organizations based in Pakistan. Hussain vowed his country would do so.

Hussain, on his first China trip since taking office last September, said the Pakistan-China friendship is a pillar of his country’s foreign and security policy.

The two sides were committed to consolidating their traditional friendship and jointly countering global challenges.

Li told Hussain China hopes to further enhance coordination with Pakistan on global and regional affairs, support each other, and join hands to promote regional and world peace, stability and prosperity.

Hussain arrived in Beijing on Tuesday for a state visit at the invitation of Chinese President Xi Jinping.

Xi held talks with him on Wednesday and both reached consensus on forging a stronger strategic cooperation partnership, closer economic links and security cooperation as well as cultural exchanges.

The two countries also issued a joint statement on deepening their strategic and economic cooperation.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)