(MENAFN) Chinese President heads to Islamabad to reveal a USD46 billion investment plan that Pakistan hopes will end its energy crisis, transforming the country into a regional economic hub, AFP reported.
With the plan, Beijing hopes to ramp up investment in Pakistan as part of its ambitions to expand its trade and transport footprint across Central and South Asia, while countering US and Indian influence.
The two nations have enjoyed close diplomatic and military relations for decades, though economic ties have only grown recently. Bilateral trade crossed USD12 billion last year, compared to only USD2 billion a decade earlier.
"The real opportunity of this China Pakistan Economic Corridor is that it changes the scope of the relationship from geopolitics to geo-economics," the minister overseeing the projects said.
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