President Zardari Urges Chinese and Australian Investment in Pakistan

President Asif Ali Zardari met with Luo Zhaohui, the Chairman of the China International Development Cooperation Agency (CIDCA), in Islamabad on April 25, 2024. During the meeting, President Zardari urged Chinese and Australian investors to invest in Pakistan's agriculture, trade, economy, and infrastructure sectors.

The president emphasized the need to further strengthen the long-term strategic relations between Pakistan and China, particularly in the areas of trade, economy, agriculture, people-to-people contacts, and culture. He reiterated Pakistan's firm commitment to the China-Pakistan Economic Corridor (CPEC) and highlighted the importance of the Gwadar Port, which he said would promote regional connectivity and make the transport of goods to China more cost-effective. "Pakistan is firmly committed to the timely completion of all CPEC projects," Zardari stated.

Luo Zhaohui briefed the president about CIDCA's role in Pakistan's socio-economic development and its contributions in the health and education sectors. He also underlined the need to promote tourism and agricultural cooperation between the two countries. The president expressed grief over the terrorist attack on Chinese workers in Bisham and assured that Pakistan would make all-out efforts to provide a safe environment for Chinese workers and investors.

President Zardari also met with the Australian High Commissioner to Pakistan, Neil Hawkins, and urged Australian companies to invest in Pakistan's agriculture, mining, and mineral sectors. He expressed satisfaction over the bilateral cooperation between the two countries in these areas.

Why this matters: The meetings with Chinese and Australian officials highlight Pakistan's efforts to attract foreign investment and bolster its economic ties with key partners. The success of CPEC and the development of Gwadar Port are vital for Pakistan's economic growth and regional connectivity.

The Chinese Charge d'Affaires, Pang Chunxue, stated that the Pakistani government is providing facilities for foreign investment, which will play an important role in the country's development. Former Pakistani ambassador to China, Masood Khalid, noted that Chinese investors are now being provided with adequate facilities to set up industries in Pakistan. However, the progress on CPEC projects has been slowed down due to security concerns and issues with dollar payments.

Key Takeaways

• Zardari met Chinese, Australian officials to seek investment in Pakistan's key sectors.
• Zardari emphasized strengthening Sino-Pak ties, reaffirmed commitment to CPEC, Gwadar Port.
• CIDCA briefed on its role in Pakistan's development; tourism, agriculture cooperation discussed.
• Zardari urged Australian firms to invest in Pakistan's agriculture, mining, mineral sectors.
• Progress on CPEC slowed by security concerns, dollar payment issues despite investment facilities.