ISLAMABAD – Foreign Minister Shah Mehmood Qureshi has said that there is tremendous potential in Sino-Pak economic diplomacy that can usher a new era of prosperity in the region.
“The agreements signed between China and Pakistan during the recent visit of Chinese Prime Minister Wen Jiabao show that economic diplomacy between Pakistan and China has great potential of economic growth and prosperity not only for Pakistan, but the whole region of Asia, particularly the Central Asian states,” Qureshi said while addressing a ceremony to mark the commencement of Pakistan-China Friendship Year.
The year of 2011 has been declared by Pakistan and China as ‘Pakistan-China Friendship Year’. “China is now directing its investments towards its western parts, the Chinese region contiguous to Pakistan, that has the potential to integrate China, Pakistan and the Central Asian states”, the minister said.
He also said that the recent agreements signed between the two countries like formation of joint investment group, the extension in five-year development plan, currency swap, comprehensive free trade pact, opening of the Chinese Bank’s two branches in Pakistan, one in Karachi and other in Islamabad, would give a boost to Pakistan’s economy and the country, being a growing economy, could be hub of economic activities linking China, Central Asia and the whole of South Asia.
He added that modern foreign policy connotation was much broader now and it included economy and trade as it important components. Qureshi said that integration was the second principal, which worked in tandem with foreign policy.
“The principal of integration is very important and Association of South East Asian Nations (ASEAN) is a living example of that, which ushering in a new era development made the region so important that the world no longer can afford to ignore it,” the foreign minister said.
Chinese Ambassador to Pakistan Liu Jian also spoke on the occasion, saying more than twenty commercial projects were signed between the two countries during the recent visit of Wen Jiabao and China would further deepen the relationship between the two countries.
He said that overwhelming involvement of the Pakistani people in welcoming Wen Jiabao was significant and showed that the relationship between the two countries was as solid as rock.
