Shehbaz Sharif’s recent visit to China has generated a positive outlook, with several key engagements and commitments highlighting the trip. On Friday, the Prime Minister of Pakistan met with top Chinese leaders, including President Xi Jinping and Premier Li Qiang, marking the highlight of his visit.
Throughout the trip, Mr. Sharif and his delegation, comprising top ministers, engaged with Chinese investors and officials, emphasizing the robust bilateral relationship between the two nations. The meeting with President Xi was notably warm, as he praised the enduring friendship and promised to “build a closer China-Pakistan community.”
Significant pledges emerged from these discussions, particularly regarding the China-Pakistan Economic Corridor (CPEC). President Xi expressed Beijing’s willingness to create an “upgraded version” of CPEC, aiming to revive and expand the initiative. Additionally, at least 32 Memorandums of Understanding (MoUs) were signed, covering sectors such as transport, infrastructure, and agriculture.
While both sides expressed enthusiasm for the bilateral relationship, security concerns were a prominent topic. President Xi emphasized the need for Pakistan to “effectively guarantee the safety of Chinese personnel,” a sentiment echoed by Premier Li. This concern follows the tragic incident earlier this year when five Chinese workers were killed in the Dasu terrorist attack. In response, Mr. Sharif extended his condolences and assured that Pakistan would do everything possible to protect Chinese personnel and interests. He also assured Chinese investors in Shenzhen of the state’s zero-tolerance policy towards corruption.
China’s commitment to Pakistan remains steadfast, but it is evident that Pakistan must fulfill promises of ensuring foolproof security and tackling corruption to maintain and deepen this partnership. China, along with Saudi Arabia, stands as one of Pakistan’s closest bilateral allies, crucial for the country’s geo-economic and geopolitical interests. New Chinese investments and the launch of the ‘second phase’ of CPEC are seen as vital to alleviating Pakistan’s severe financial challenges.
However, the implementation of these projects and MoUs is imperative. The PM’s prior visits to Saudi Arabia and the UAE resulted in pledges of billions of dollars in investments, most of which have yet to materialize. This underscores a broader issue: foreign allies, whether from the Gulf or China, require evidence of internal political stability, financial transparency, fiscal responsibility, and a secure, terrorism-free environment before committing their funds. Addressing these concerns remains the primary challenge for Pakistan in attracting and securing foreign investment.