Pakistan and China Tuesday agreed to advance their collaboration in various sectors, including industrial zones, agriculture, mineral and mining, as well as renewable energy.

According to a press statement issued by the finance ministry, the Ambassador of China, Jiang Zaidong called on the Minister for Finance & Revenue, Mr. Muhammad Aurangzeb to discuss key matters about economic cooperation and bilateral relations between Pakistan and China.

They discussed that the next phase of China Pakistan Economic Corridor (CPEC) would focus on the monetisation of gains made during the first phase. They reiterated the desire to collaborate closely to further deepen and enhance the economic relationship between the two countries, reflecting the strong bonds of friendship and cooperation that exist between Pakistan and China.

On the occasion, the ambassador extended felicitations to Muhammad Aurangzeb upon his appointment as Federal Minister for Finance and Revenue and expressed confidence towards further strengthening of economic ties between the two countries.

The minister expressed gratitude towards the Chinese leadership for their invaluable support to Pakistan in various sectors, particularly highlighting the rollover of SAFE deposits and the refinancing of commercial loans, which have significantly contributed to Pakistan’s economic stability.

He further emphasized the paramount importance of the China-Pakistan Economic Corridor (CPEC) in Pakistan’s growth strategy and overall economic recovery.