HomeBusinessChairman of China EXIM Bank calls on Prime Minister Shehbaz

Chairman of China EXIM Bank calls on Prime Minister Shehbaz


Beijing, 7 June 2024 (TDI): Prime Minister Muhammad Shehbaz Sharif met Dr. Wu Fulin, Chairman of China Export-Import Bank (EXIM) in Beijing today.

Prime Minister Shehbaz emphasized the Government of Pakistan’s reform agenda, prioritizing governance, taxation, and ease of doing business to attract Foreign Direct Investment (FDI).

He said that the reform measures had already started to yield results as food inflation had been successfully tapered, current account deficit reduced and public debt brought down to a more sustainable level.

On Tuesday, Prime Minister Shehbaz and most of the federal cabinet arrived in Shenzhen, China’s tech hub, to begin their five-day trip to the neighboring country to attract more investments.

The Prime Minister appreciated the EXIM bank’s continued support for modernizing Pakistan’s industrial, agriculture, and IT sectors. He also discussed the possible role of the CEXIM bank in financing Pakistan-China joint venture projects and trade financing as part of efforts to boost Pakistan’s exports to international markets.

The Chairman of EXIM Bank underscored the critical role of economic and financial cooperation under CPEC phase II and CEXIM bank’s strategic partnership with Pakistan and support to advance sustainable development under the concept of ‘shared prosperity’.

Also Read: Financial facilitation to augment Pak-China Business, NBP President

Furthermore, Prime Minister Muhammad Shehbaz Sharif met the Chairman of China International Development Cooperation Agency (CIDCA) Ambassador Luo Zhaohui in Beijing.

The Prime Minister expressed gratitude for CIDCA’s support of CPEC projects, including the Pakistan-China Friendship Hospital, the Desalination Plant in Gwadar, and the New Gwadar International Airport. He conveyed confidence that this positive momentum would continue into CPEC phase II.

In addition, while meeting the chairman of the China Northern Industry Corporation, Prime Minister Shehbaz invited the company to invest in Pakistan’s communications infrastructure projects, particularly the Karachi Circular Railway.

The chairman referenced “Punjab and Pakistan Speed,” highlighting the rapid completion of development projects during Sharif’s tenure as chief minister.

The Diplomatic Insight is a digital and print magazine focusing on diplomacy, defense, and development since 2009.

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