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Country Report Pakistan Product Image

Country Report Pakistan

  • ID: 2101420
  • April 2015
  • Region: Pakistan
  • 25 Pages
  • The Economist Intelligence Unit

The Chinese president, Xi Jinping, concluded a two-day visit to Pakistan on April 21st. During his time in the capital, Islamabad, Mr Xi met his counterpart, Mamnoon Hussain, and the prime minister, Nawaz Sharif, and addressed a joint session of parliament.

The visit was a political triumph for Mr Sharif, who had been embarrassed that Mr Xi had been unable to visit as planned in September 2014 because of extended anti-government protests. The visit also marked a considerable expansion in economic ties between the two countries. Mr Xi and Mr Sharif finalised 51 trade agreements and projects worth US$28bn, the first tranches of economic co-operation that will amount to US$46bn over 15 years.

Many of the deals are for developing the China-Pakistan Economic Corridor project, which aims to connect China's western Xinjiang region with Pakistan's Gwadar port through a road, rail and pipeline network over 3,000 km in length. This will give China direct access to the Arabian Sea and reap transit trade benefits for Pakistan. In addition, Pakistan officials said that $15.5bn of the financial assistance initially pledged will be directed towards coal, nuclear and renewable energy projects intended to add 10,400 mw (around 45% of its estimated installed capacity) to the national grid by 2017.

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Country Report Pakistan

Chinese president visits Pakistan
Impact on the forecast

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