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China plans $45 bn investments in Pakistan, signs 51 MoUs

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Chinese President Xi Jinping is expected to signs 51 MoUs CPEC (China – Pakistan Economic Corridor) agreement worth USD 46 Billion in his maiden visit to Pakistan. He arrived at Islamabad today. Expectations are high that we will be signing other agreements with Pakistan to bolster their all-weather strategic ties. This deal will not only stabilize Pakistan’s cash-strapped economy, but also will expand the communist giant China’s influence in India’s neighborhood.

This CPEC will link China’s underdeveloped far western region of the country to the Pakistan’s Gwadar deep-sea port on the Arabian Sea, via PoK. This is panned to be done by building of a complex network of roadways, railways, pipelines and business zones in the region. When the Chinese President’s flight entered Pakistani Airspace, a fleet of eight JF-17 Thunder fighter jets, ones which are jointly manufactured by Pakistan and China, escorted the President to the Islamabad Airbase. A red-carpet welcome was arranged for the Chinese President. This is Chinese President Xi’s first foreign trip for this year 2015, after he had cancelled all his previous trips.

Xi is said to meet his Pakistan counterpart Mamnoon Hussain who will be hosting a lunch in his honour and he will also give ‘Nishan-e-Pakistan’ Award, Pakistan’s highest civilian award to the Chinese President. There is said to also be talks on an agreement for the exchange of prisioners on his visit to Pakistan.