Subscribe free to our newsletters via your
. Space Industry and Business News .




SUPERPOWERS
China, Pakistan plan 'economic corridor': Li
by Staff Writers
Islamabad (AFP) May 22, 2013


Chinese Premier Li Keqiang Wednesday linked growth in his country's restive west with that in sluggish Pakistan, saying the two sides wanted to create an "economic corridor" to boost development.

Li, on his first overseas trip since taking over in a once-in-a-decade power transfer in Beijing, congratulated Pakistan on its recent general election and hailed the countries' long-standing friendship.

The Chinese leader held talks with President Asif Ali Zardari and officials signed a series of memorandums of understanding on economic, science, technology and energy issues.

Prime minister-elect Nawaz Sharif, set to meet Li on Thursday, will doubtless be hoping the visit leads to closer trade ties after his Pakistan Muslim League-N (PML-N) party swept to victory in the May 11 general election on a promise to revitalise the struggling economy.

The PML-N faces a daunting array of problems: a bloody Islamist militancy, sluggish economic growth, high inflation, a crumbling currency, the threat of a balance of payments crisis and crippling electricity shortages.

Trade between China and Pakistan hit an annual $12 billion for the first time last year, according to Islamabad's foreign ministry, and the two sides plan to raise this to $15 billion in the next two to three years.

Li said China's desire to boost domestic demand and develop its western region would benefit Pakistan as it seeks to restart its foundering economy.

"Both sides are of the view that by connecting China's development and Pakistan's development, we can create a joint economic corridor linking the central and western parts of China and Pakistan," he said.

"This vision, once realised, will have great strategic significance for the development of China, South Asia, Asia and of peace and stability in the region and the improved lives of people in our region."

China's western region of Xinjiang sees frequent clashes between mainly Muslim Uighurs and Han Chinese, and Beijing has blamed extremists trained in Pakistan for some of the violence.

Riots in Xinjiang's capital Urumqi in 2009 killed around 200 people, leading the ruling Communist Party to tighten surveillance and boost investment in the region.

There are an estimated 10,000 Chinese people and more than 120 Chinese companies in Pakistan, many working on infrastructure and energy projects. Beijing built two nuclear power plants in the country and is contracted to construct two more reactors.

In February Beijing took control of Pakistan's port of Gwadar, which through an expanded Karakoram Highway could connect China to the Arabian Sea and the Strait of Hormuz, a gateway for a third of the world's traded oil.

China is also the main source of arms for Pakistan's military, the country's dominant institution, and Pakistan accounted for more than half of Chinese weapons exports between 2008 and 2012, according to the Stockholm International Peace Research Institute.

Li was met by Zardari on the tarmac at Nur Khan air base in Rawalpindi next to Islamabad when he flew in from Pakistan's arch-rival India, where he promised to open China's vast domestic market wider to Indian goods.

Pakistan's former ambassador to the United States Tariq Fatemi said the visit was crucial in drawing the economic roadmap for the incoming government.

"Normally foreign visitors don't go to countries during the interim setups, but China has recognised that the visit to Pakistan is necessary even at this stage, and that is why they have organised a separate one-on-one meeting with Nawaz Sharif," Fatemi told AFP.

After Pakistan, Li's tour takes him on to Europe for visits to Switzerland, with which China is negotiating a free trade agreement, and Germany, its largest European trading partner.

.


Related Links
Learn about the Superpowers of the 21st Century at SpaceWar.com
Learn about nuclear weapons doctrine and defense at SpaceWar.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








SUPERPOWERS
US summit will help 'reduce suspicion': China media
Beijing (AFP) May 22, 2013
Chinese state media on Wednesday welcomed news of the first summit between President Xi Jinping and his US counterpart Barack Obama, saying the meeting will help "reduce suspicions" in the relationship. The talks, the first since Xi was installed as Chinese leader and Obama began his second term, will be held in California on June 7 and 8, with ties strained by allegations of cyber spying, t ... read more


SUPERPOWERS
3-D modeling technology offers groundbreaking solution for engineers

NASA Seeks High-Performance Spaceflight Computing Capabilities

SPUTNIX is granted a license for space activity

Stanford Engineers' New Metamaterial Doubles Up on Invisibility

SUPERPOWERS
US Navy And Lockheed Martin Deliver Secure Communications Satellite For Mobile Users

Making frequency-hopping radios practical

Northrop Grumman Proves Concept for New B-2 Satellite Communication System

US Navy and Lockheed Martin Deliver Newest Secure Communications Satellite for Mobile Users

SUPERPOWERS
O3b Networks Launcher and payload integration are underway at Kourou

Arianespace underscores strong partnership with Japan during Tokyo meetings

O3b Networks' initial satellite is fueled for Arianespace's upcoming Soyuz launch from the Spaceport

Ariane Flight VA214's launch vehicle marks a preparation milestone

SUPERPOWERS
NASA Builds Unusual Testbed for Analyzing X-ray Navigation Technologies

Pakistan adopts Chinese rival GPS satellite system

China's BeiDou satellite navigation system has broad commercial uses

Fourth Boeing GPS IIF Satellite Joins Constellation on Orbit

SUPERPOWERS
Saab upgrading bid for Brazil FX-2 contest

China 'will not accept' carbon tax on EU flights: report

F-35A Completes High Angle Of Attack Testing

India commissions first MiG-29K fighters

SUPERPOWERS
Bright Future For Photonic Quantum Computers

New magnetic graphene may revolutionize electronics

Flawed Diamonds Promise Sensory Perfection

Scientists develop device for portable, ultra-precise clocks and quantum sensors

SUPERPOWERS
NASA Helps Pinpoint Glaciers' Role in Sea Level Rise

New Animation Marks Arrival of NASA's LDCM Satellite to its Final Orbit

Team Wins Cubesat Berth to Gather Earth Energy Imbalance Measurements

NRL's MIGHTI Slated for Launch on ICON Mission

SUPERPOWERS
Frog once imported for pregnancy testing brought deadly amphibian disease to US

Hong Kong launches plan to tackle waste crisis

Nearly 1,000 protest against China chemical plant

Making gold green: New non-toxic method for mining gold




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement