China, Pakistan agree to cooperate on oil, gas and mining

11 June, 2024

China and Pakistan have agreed to expand their oil, gas and mining cooperation following Pakistani Prime Minister Shehbaz Sharif’s visit to China on 4–8 June, Reuters reported.

In a joint statement, the nations agreed to enhance cooperation within the multi-billion-dollar China-Pakistan Economic Corridor (CPEC), a Chinese land and sea infrastructure project in Pakistan centered on the country’s north-east border.  

Both countries have also signed an action plan for the Framework Agreement on Industrial Cooperation under the CPEC to strengthen industrial collaboration in various areas tailored to local conditions. 

China has invested more than $65bn in road, infrastructure and development projects as part of the CPEC’s Belt and Road initiative, one element of China’s global infrastructure plans to use ‘soft power’ to boost local economies and establish trade routes. 

The two countries signed 23 agreements and several memorandums of understanding to cooperate on the CPEC, infrastructure, industrial cooperation, intergovernmental development assistance, mapping, market regulation and surveying, among other areas. 

China remains keen on exploring Pakistan’s offshore oil and gas resources and natural gas hydrates. The country will also encourage Chinese companies to “actively participate in the development of offshore oil and gas blocks of Pakistan”, the statement said.  


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