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Asian markets mixed as investors eye trade talks

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HONG KONG: Asian markets were mixed Tuesday with investors cautiously optimistic that China and the US can reach a deal ending their trade war as the two sides prepare to resume talks this week.

With New York closed for a public holiday there were few catalysts to drive buying, though the release of Federal Reserve minutes on Wednesday will be pored over for an idea of the bank’s interest rate plans.

Top-level officials from the world’s two biggest economies will reconvene in Washington after a series of talks in Beijing last week, with the US side telling President Donald Trump they had been “very productive”.

The positive tone from the diplomats, and the president’s indication he could extend a deadline for agreement, boosted regional markets Monday, extending a 2019 rally fuelled by optimism about an end to the nearly year-long tariffs spat.

Tokyo finished 0.1 percent higher, Hong Kong dipped 0.3 percent in the afternoon and Shanghai closed fractionally up.

Sydney gained 0.3 percent, Singapore put on 0.2 percent and Taipei 0.2 percent, with Seoul and Wellington each off 0.2 percent. Manila fell while Mumbai and Jakarta were up.

 

 

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Govt. to further strengthen Sino-Pak partnership

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ISLAMABAD: Foreign Minister Shah Mehmood Qureshi has expressed the govt’s commitment to further strengthen Sino-Pak strategic partnership.

He was addressing Friends of Silk Road Forum organized in honor of visiting Chinese Vice President Wang Qishan here today.

The Foreign Minister said both countries are observing 2019 as a year of mutual relations and it is expected that people to people contacts will reach a new level.

Shah Mehmood Qureshi said CPEC has helped to strengthen bilateral relations and take economic and social development to new heights.

He said the CPEC has entered into its second phase which focuses on industrial, social and economic cooperation. He expressed the confidence that Special Economic Zones will pave way for the progress of Pakistan.

Foreign Minister said the government has a special focus on poverty alleviation, industrial development, education, technology, scientific innovation, and agricultural development.

He said both the countries have common thinking of improving the living standard of their people. He hoped that the development target will be achieved by mutually harnessing the capabilities of the two countries.

Foreign Minister paid rich tributes to the services of the Chinese Vice President in promoting the strategic partnership between the two countries. 

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Vice President of China arrives in Islamabad

 

 

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Pakistan China sign several MoUs

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ISLAMABAD: Pakistan and China have signed several MoUs for cooperation in different sectors. 

The signing ceremony was held in Islamabad on Sunday which was attended by Prime Minister Imran Khan and Chinese Vice Prime Minister Wang Qishan.

These MoUs include cooperation in economic and technical affairs, Disaster Management and assistance in the agriculture sector of Lasbella University. 

Pakistan and China have agreed to further strengthen strategic cooperation and partnership between the two countries. A delegation level dialogue between the two countries was held in Islamabad on Sunday. Prime Minister Imran Khan led the Pakistan side while Chinese side headed by Vice President Wang Qishan. Talking on the occasion, Prime Minister Imran Khan said Pakistan is committed regarding China Pakistan Economic Corridor as this project will help to promote the agriculture, industrial and economic development. On his part, the Chinese Vice President expressed satisfaction over the bilateral relations between the two countries. He said that Pakistan played a commendable role for peace in the region and cooperation with neighboring countries. Both leaders also discussed regional peace and the overall situation in South Asia.

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A relevant piece published earlier:

Vice President of China arrives in Islamabad

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Vice President of China arrives in Islamabad

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ISLAMABAD: Chinese Vice President Wang Qishan arrived here today on a three-day official visit to Pakistan.During the visit, the Chinese Vice President will call on President Arif Alvi and have a separate meeting with Prime Minister Imran Khan. He will also call on Army Chief General Qamar Javed Bajwa.

The two countries will sign MoUs & agreements and inaugurate projects to enhance bilateral cooperation in a broad range of areas. The visit is expected to reinforce the strength of bilateral ties and impart further impetus to the growing, multi-faceted cooperation between the two countries in diverse fields.

Meanwhile, Chinese Foreign Ministry (FM) spokesperson has said that Chinese Vice President’s upcoming visit to Pakistan would further deepen high-level exchanges, friendship and mutual trust between the two countries: “Visit will also advance the development of China Pakistan Economic Corridor besides bilateral cooperation across the board,” the Spokesman added. 

FM spokesperson reiterated that China and Pakistan are all-weather strategic cooperative partners and iron friends, and firmly support each other on issues concerning each other’s foreign interests. He said Pakistan has been a priority on China’s diplomacy and now both the countries have witnessed a sound momentum in their cooperation and frequent high-level exchanges. He said both the countries are deepening the mutually beneficial cooperation and conducting close coordination in international and regional affairs.

It is pertinent to mention here that VP’s visit is in continuation of high-level exchanges between the two countries, which have acquired an increased momentum since PM Imran Khan’s visit to China in November last year and his participation in the 2nd Belt and Road Forum in Beijing in April this year. 

Foreign Minister (FM) Shah Mehmood Qureshi who has received the honored guest has informed that five Memorandums of Understanding would be signed during the visit of the Chinese Vice President. Talking to media here he said the visiting dignitary will also inaugurate some of the projects. FM said an investiture ceremony will also be held in honor of Wang Qishan, where he will be conferred upon an award for his role to promote bilateral ties between Pakistan and China. Qureshi told that  Chinese Vice President will also visit historical places in Lahore, where Punjab Chief Minister Usman Buzdar will receive the guest. He said the visit demonstrates the resolve of the two countries in developing and promoting CPEC.

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