ISLAMABAD: Pakistan and China signed nearly two dozen private sector deals worth billions Saturday, the second day of a rare visit by Chinese Premier Wen Jiabao to the country. Including government deals inked Friday, the two sides have agreed to 35 new pacts expected to bring up to $30 billion of investment to Pakistan over the next five years, Islamabad said. China is Pakistan's closest friend in Asia, giving Islamabad aid and technical assistance, including nuclear technology. But Beijing is hardly left empty-handed from its ties with Pakistan, which serves as a close, cheap source of natural resources to fuel its growing economy. Wen wraps up his trip, the first by a Chinese premier in five years, Sunday with a speech to the Pakistani parliament. The two countries hailed their ties during a business leaders' summit, during which many of the deals were signed. They agreed to widen the Karakoram Highway to enhance trade and communications, the Pakistani government said. Pakistani Information Minister Qamar Zaman Kaira said the countries signed 13 agreements and memorandums of understanding on Friday in fields ranging from energy to railways, from reconstruction to agriculture and culture. Kaira said China had promised to fund “all the energy projects of Pakistan,” which he termed a “major breakthrough”. Pakistan suffers from a debilitating energy crisis and produces only 80 percent of the electricity it needs. “China will provide assistance in 36 projects in Pakistan to be completed in five years,” he said. “Basically this is a five-year development plan.” Although not specifically mentioned, behind-the-scenes talks are also expected on China building a one-gigawatt nuclear power plant as part of Pakistani plans to produce 8,000 megawatts of electricity by 2025 to make up its energy shortfall. China also pledged additional support in the energy sector, where Pakistan faces major shortages. While its bilateral trade with China is up from $1 billion in 2000 to some $7 billion now, much of the new trade consists of cheap Chinese imports into Pakistan, officials said. Islamabad hopes to do more to balance that. Pakistan has stressed it is supremely confident in its relationship with China. Wen earlier visited New Delhi. Wen and Pakistani Prime Minister Yousaf Raza Gilani attended a dance-filled ceremony to inaugurate the Pakistan-China Friendship Center in Islamabad.
