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Saudi Arabia to join CPEC soon: Envoy

Saudi Arabia to join CPEC soon: Envoy

by | May 25, 2021 | Investing, Muslim World

China-Pakistan Economic Corridor, CPECIslamabad : Saudi Arabia will soon join the China-Pakistan Economic Corridor (CPEC) and make investments at Gwadar Port to play a role in the progress and prosperity of Pakistan, a top official has said.

According to the News International, Saudi Ambassador to Pakistan Nawaf Saeed Ahmed Al-Malkiy, in an interview to the daily said that both the countries were taking measures to strengthen “fraternal and trade ties”.

“More than three million Pakistanis are playing their role in the progress and prosperity of Saudi Arabia,” Al-Malkiy said, referring to Pakistani immigrants working in Saudi Arabia.

He added that Saudi Arabia’s investment in the CPEC would allow the Kingdom to play a similar role in Pakistan.

The CPEC is a flagship project of China’s Belt and Road initiative. The 3,000 km, over $50 billion corridor stretches from Kashgar in western China to Gwadar port in Pakistan on the Arabian sea.

The ambassador added that bilateral relations between Pakistan and Saudi Arabia would be further strengthened through the exchange of cultural delegations.

He added that in the coming weeks, an initiative would be started whereby Pakistani students would be offered scholarships to study in Saudi Arabia’s universities, the News International reported on Friday.

In August, during a visit to Jeddah, Prime Minister Shahid Khaqan Abbasi had shown appreciation for Saudi Crown Prince Muhammad bin Salman Al Saud’s “Vision 2030” plan – a project to diversify and modernise the Saudi economy.

Abbasi had assured the Prince of continued cooperation and collaboration to the benefit of both Islamic countries.

Referring to the meeting in Jeddah, the ambassador said that new avenues will be explored for enhancing trade volumes between the two countries.

—IANS

Pakistan’s Gwadar port signifies Sino-Pak cooperation

Pakistan’s Gwadar port signifies Sino-Pak cooperation

by | May 25, 2021 | World

gwadar portIslamabad : (IANS) Gwadar Port in Pakistan is the product of long-term cooperation between China and Pakistan, said an official.

China Overseas Ports Holding Company Chairman Zhang Baozhong on Tuesday said the number of cargo ships berthing at the port has increased.

Zhang was speaking at a seminar on “Gwadar: A deep sea port exploring global opportunities” at the Lahore Chamber of Commerce and Industry, Dawn online reported.

Zhang said Pakistan’s economic performance has improved significantly in the recent years, reflecting a strong commitment and serious efforts undertaken by the government and people.

Consul General of China in Lahore Yu Boren said global trade was facing challenges and “we have already seen the acquisitions and mergers of big players”.

He said the China-Pakistan Economic Corridor (CPEC) was an overall cooperation platform with a focus on the long-term development of bilateral cooperation in various fields.