Federal Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal, met with Mr. Lu Hao, President of China’s Development Research Center (DRC) and Centre for International Knowledge on Development (CIKD).
During the meeting, both sides discussed further strengthening economic cooperation between Pakistan and China.
SLAMABAD: Prime Minister Shehbaz Sharif on Sunday received Iranian President Masoud Pezeshkian at the PM House with the visiting dignitary being presented with a guard of honour.
PM Shehbaz and President Pezeshkian will now hold a bilateral meeting and will lead their respective sides in the scheduled delegation-level talks.
The two sides are expected to sign memorandum of understandings (MoUs) for cooperation in various areas which will be followed by a joint presser by PM Shehbaz and President Pezeshkian.
The Iranian president — who was welcomed in Lahore by Punjab Chief Minister Maryam Nawaz and PML-N President Nawaz Sharif — touched down in Pakistan on his maiden visit on Saturday and is accompanied by a high-level delegation, including senior ministers and other high-ranking officials.
A day earlier, the dignitary, who is visiting the country on PM Shehbaz’s invitation, paid a visit to the mausoleum of Allama Iqbal where he received a guard of honour from smartly turned-out personnel of the armed forces.
President Pezeshkian, while speaking to the media before departing from Iran, expressed hope that bilateral trade volume could be raised to $10 billion.
He also highlighted Iran’s interest in active participation in the China-Pakistan Economic Corridor (CPEC), a key component of the One Belt, One Road (OBOR) initiative.
Pezeshkian is the second Iranian president to visit Pakistan within two years. The visit was originally scheduled for the final week of July.
In April 2024, Ebrahim Raisi paid a three-day official visit to Pakistan — just a month before his death in a helicopter crash.
FM Dar reiterates commitment to brotherly ties
Deputy PM and Foreign Minister Ishaq Dar, as per a statement issued by the Foreign Office, called on President Pezeshkian on Sunday and reaffirmed Pakistan’s deep commitment to its historic and brotherly ties with Iran, emphasising their strong foundations in shared history, common cultural heritage, faith, and mutual respect.
Meanwhile, the visiting dignitary appreciated Pakistan’s support and reaffirmed Iran’s resolve to improving bilateral collaboration in various areas of shared interest.
He also looked forward to meaningful discussions with Pakistani leaders to further reinforce the political and economic ties between the two friendly nations.
Talking to media later, DPM and FM Dar reiterated that Pakistan stood with its brotherly country Iran and would continue to support it in trade, economic and other fields.
He also welcomed the Iranian president’s statement which resonated with the vision of the prime minister to take the trade volume between the two countries to $10 billion.
“It is very heart-warming and a need of the hour to expand the economic activities by building economic coordination together,” he emphasised.
Minister Ahsan Iqbal stated that strong economic collaboration between Pakistan and China is key to national development.
He remarked that CPEC has transformed the everlasting friendship between Pakistan and China from political cooperation into a comprehensive economic and social partnership.
He emphasized that Pakistan is eager to learn from China’s economic and reform successes, and termed China’s scientific planning as a guiding light for achieving long-term and sustainable development.
The Minister noted that under the Uraan Pakistan program, the country’s economy is moving toward stability, with the target of becoming a one-trillion-dollar economy by 2035.
He further stated that all indicators of Pakistan’s economy are showing positive trends, a fact also acknowledged by international institutions.
He mentioned that the policy rate has declined from 23% to 11%, while the Pakistan Stock Exchange has crossed 140,000 points.
Minister Ahsan Iqbal pointed out that China imports nearly 2 trillion dollars worth of goods annually, while Pakistan’s share remains negligible.
He added that Pakistan seeks to expand trade and exports with China and that gaining access to Chinese markets is a key economic objective.
Referring to past challenges, the Minister highlighted that political instability and lack of policy continuity had hindered the country’s development process.
On this occasion, Minister Lu Hao expressed confidence in Pakistan’s strategy to build an export-led economy.
During the meeting, it is agreed upon to enter into a partnership and cooperation agreement between Ministry of Planning and China’s Development Research Center .
Under the agreement, China will support Pakistan’s economic development through joint research, training programs, and expert exchanges.
