The impression of Shehbaz Sharif’s visit to China seems to be favourable. The prime minister’s meeting with China’s top brass, which included Premier Li Qiang and President Xi Jinping, on Friday was the high point of the trip.
Mr. Sharif and his entourage, which included important ministries, made connections with Chinese officials and investors at other events. China’s leader praised the bilateral cooperation and pledged to “build a closer China-Pakistan community” during the cordial meeting with Mr. Xi.Concrete takeaways included promises to revitalise the China-Pakistan Economic Corridor (CPEC), with Beijing agreeing to build a “upgraded version” of the corridor, and the signing of at least 32 Memorandums of Understanding (MoUs) spanning a range of industries, including agriculture, infrastructure, transportation, and others.
Although the Chinese and Pakistani governments expressed great appreciation for their bilateral ties, the state’s top brass voiced concerns over security. Premier Li expressed similar worries, and President Xi expressed optimism that Pakistan will “effectively guarantee the safety of Chinese personnel.”
Beijing was anticipated to send this message, particularly in light of the fact that the terrorist attack in Dasu earlier this year claimed the lives of five Chinese labourers.Regarding the deaths, Mr. Sharif expressed his condolences and pledged that Pakistan will take all necessary precautions to safeguard Chinese personnel and interests. In Shenzhen, Mr. Sharif also assured Chinese investors that corruption would not be tolerated by the government.
China’s commitment to strengthening ties with Pakistan is evident from the PM’s contacts; nevertheless, Pakistan must fulfil its commitment to provide foolproof security and combat corruption. Maintaining this connection is crucial to Pakistan’s geopolitical and geoeconomic interests as China and Saudi Arabia are perhaps the country’s closest bilateral partners. Launching the “second phase” of the CPEC and luring more Chinese investment could be crucial to pulling Pakistan out of its current financial predicament.
However, it is evident that the state would need to put in extra effort to make sure that the numerous Memorandums of Understanding (MoUs) inked in Beijing, as well as the new CPEC projects, become a reality. It should be recalled that the PM returned from recent trips to Saudi Arabia and the United Arab Emirates having promised to invest billions of dollars. If not all of those promises have yet to come to pass.The problem might be that Pakistan’s foreign allies, whether they be our friends in the Gulf or our partners in China, demand that, prior to providing funding, there be internal political stability, a commitment to fiscal responsibility and financial transparency, and a safe environment free from terrorism. This is possibly the largest challenge facing the government in trying to draw in foreign investment.
