Prime Minister Shehbaz Sharif on Thursday said the second phase of the China-Pakistan Economic Corridor (CPEC) would help Pakistan transform its economy.

“We are entering into the second phase of CPEC which has huge potential of mutual cooperation in the field of agriculture, Information Technology, mines and minerals and many other important areas of mutual interests,” the prime minister said while addressing an event organised by the Chinese Embassy here to commemorate China’s 75th anniversary.

He congratulated the Chinese government and its citizens, emphasising China’s status as a global power and a vital partner in international affairs.

President Asif Ali Zardari, federal ministers, diplomats, dignitaries, and senior civil and military officers attended the event.

Both leaders expressed their commitment to working collaboratively towards a prosperous future for both nations, underscoring the strength and significance of the Pakistan-China friendship.

The prime minister also acknowledged China’s critical role during the negotiations with the International Monetary Fund. He stressed the need for development in various fields including agriculture, industry and other areas to ensure development and prosperity in the country.

He reiterated that the ongoing partnership not only fostered regional development and peace but also contributed to global stability and progress, aligning with President Xi Jinping’s vision. He also reaffirmed Pakistan’s support for China’s positions on international issues, including those related to Hong Kong and Taiwan.

PM Shehbaz said the government was eager to welcome the Chinese PM who will participate in the Shanghai Cooperation Organization Council of Heads of Government meeting to be held in Islamabad.

Chinese Ambassador to Pakistan Jiang Zaidong reaffirmed China’s dedication to working alongside Pakistan in the “active implementation of its global initiative,” which focuses on mutual development and shared cooperation.

Pakistan to work with China for shared prosperity, global peace: President Zardari

President Asif Ali Zardari has reaffirmed Pakistan’s commitment to working together with China for shared prosperity and promoting peace and stability in the world.

While highlighting the importance of the CPEC, the president said that high-quality development of the corridor project would “help unlock greater benefits for our people, besides enhancing connectivity and prosperity of the region”.

He emphasised the importance of advancing the high-quality development of CPEC to unlock “greater benefits” for the people of the two countries.

The president hoped that China was poised to achieve significant milestones in the coming decades, which would not only bolster its development but also reshape the global landscape in politics, economics and culture in positive ways.