China and Pakistan sign agreements to enhance bilateral cooperation

[News_Editor]

China and Pakistan sign agreements to enhance bilateral cooperation

2011-05-18 22:16:11 GMT+7 (ICT)

BEIJING, CHINA (BNO NEWS) -- China and Pakistan on Wednesday signed a series of agreements to enhance bilateral cooperation in diverse fields, the state-run Xinhua news agency reported.

Chinese Prime Minister Wen Jiabao and his Pakistani counterpart Yousuf Raza Gilani met at the Great Hall of the People in Beijing. They oversaw the signing of a number of cooperative documents aimed at enhancing its friendly cooperative relationship.

Three agreements were signed on banking, economic and technical cooperation and extension of gold and copper extraction from the Saindak mines. In addition, China offered a 70 million Chinese Yuan ($10.76 million) grant for flood reconstruction and a 100 million Chinese Yuan ($15.37 million) loan to Pakistan.

The agreements include a Memorandum of Understanding (MoU) between China Banking Regulatory Commission (CBRC) and State Bank of Pakistan, and two agreements; one on economic and technical cooperation and the other on extending the Saindak Gold and Copper Mining Project up to year 2017.

"The amendment between the bank and the State Bank of Pakistan is a very important agreement, as it allows the two sides to strengthen coordination, exchange information and make joint efforts to tackle crises together," said Liu Mingkang, CBRC chairman.

Wen and Gilani also vowed to further strengthen the existing close and strategic partnership through increased cooperation in diverse fields. They also discuss the situation in the region.

Gilani arrived to Beijing on Tuesday for a four-day visit. Wen said he hoped that the visit of the Pakistani high-ranking official will take to new heights the friendship and cooperation between the two countries.

Furthermore, the Chinese Premier recognized the role Pakistan has been played in countering terrorism and said that the international community should not forget the huge sacrifices made by Pakistan in the global campaign against terrorism and extremism.

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