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Sino-Pak FMs hold strategic dialogue

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Private sector’s share of CPEC projects likely to increase

BEIJING: China and Pakistan Tuesday held strategic dialogue and undertook in-depth discussions on all aspects of bilateral relations, including CPEC trade, investment, and economic cooperation, people-to-people contacts and regional and international issues.
The dialogue was co-chaired by State Councilor and Minister of Foreign Affairs Wang Yi for China and Minister of Foreign Affairs Makhdoom Shah Mahmood Qureshi for Pakistan.
The two foreign ministers reaffirmed their time-tested and all-weather strategic cooperative partnership and agreed to maintain regular two-way high-level political and official exchanges.
They expressed commitment to translate the vision of the leadership to build a closer China-Pakistan community of shared future in the new era.
The two sides reaffirmed support to each other on all core issues of their national interest. They underlined that state sovereignty and territorial integrity were cardinal principles of UN Charter and international law.
Foreign Minister Wang Yi called for de-escalation of tensions in South Asia and underlined the need for dialogue and peaceful means to resolve all outstanding disputes.
The two sides also agreed to further intensify cooperation with regular meetings of all bilateral mechanisms to take forward practical cooperation in respective fields.
They agreed to strengthen people-to-people contacts, cultural cooperation, and tourism. It was noted that China and Pakistan were celebrating 2019 as the year of sister-cities exchanges.
The two foreign ministers reaffirmed the commitment to CPEC and agreed to continue the smooth implementation of CPEC projects, especially it’s Special Economic Zones.
While rejecting the negative propaganda against CPEC, they expressed a strong resolve to safeguard CPEC from all kinds of threats. The two sides agreed to enhance cooperation against terrorism by strengthening communication and coordination in relevant fields.
The Chinese side highly appreciated Pakistan’s commitment and efforts to counter terrorism. The Foreign Minister of Pakistan expressed appreciation for Chinese support for Pakistan’s efforts.
The two foreign ministers discussed the situation in Afghanistan and expressed support for the ongoing efforts for peace and reconciliation. Both sides reiterated support for Afghan-owned Afghan-led inclusive peace process and called on all stakeholders in Afghanistan to become part of an intra-Afghan dialogue.
They also urged all sides to show flexibility to find a durable solution to the Afghan conflict. The two sides agreed to continue their mutual collaboration at the regional multilateral and international forums. They expressed their support for consensus-based reform of the United Nations so that it responds to the interests and concerns of all member states.

 

 

 

 

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Politics

Removal of Asad Umar to have ‘positive impacts’ on economy: Bilawal

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PTI government 'strange and fake', says Bilawal

KARACHI: Pakistan People’s Party Chairman Bilawal Bhutto Zardari has welcomed the government’s decision for what he said removing Asad Umar as finance minister.

Speaking to the media here today, PPP chief expressed  the hope that  the decision would have positive impact on the economy.

He said the government has realized after eight months that its economic policies are flawed.

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Politics

Imran should’ve tendered resignation instead of Asad Umar

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ISLAMABAD: Hours after Asad Umar announced his resignation from the post of finance minister, opposition parties started to shower criticism on the Imran Khan-led PTI government.

In a statement, former information minister Marriyum Aurangzeb blamed the policies of Prime Minister Imran Khan for the economic mess that has been created.

“If PTI’s and Asad Umar’s policies were so good, and the problems were from PMLN government,then why was he [Umar] asked to step down,” she questioned.

“This is an admission by IK that his polices have created an economic crisis in Pakistan. the real problem is not Asad. It is the PM,” she further said tagging Pakistan Tehreek-e-Insaf twitter handle.

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Economy

Brexit: Falklands’ economy and Spanish fishermen threatened  

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Hitachi freezes British nuclear project

MADRID: A no-deal Brexit would deal a severe blow to the economy of Britain’s Falkland Islands which is heavily dependent on squid exports — and to Galicia in Spain where almost all of the mollusks are sent.
Fully 94 percent of the catch, mostly squid, exported from the contested South Atlantic archipelago known to Argentina as the Malvinas and occupied by Britain since 1833, is sent to the port of Vigo in northwestern Spain, some 13,000 kilometers (8,000 miles) away.
There the processing of squid is carried out or shipped directly to other European nations. About a third of the squid eaten in continental Europe comes from the Falklands, according to the archipelago’s government.
Fishing accounts for 40 percent of the economic output of the island group which was at the heart of the two-month war between Britain and Argentina in 1982. And Galician trawlers staffed mainly with Spaniards dominate the sector.
This trade is profitable because no customs tariffs are slapped on the squid since both Britain and Spain belong to the European Union — but that would end if Britain leaves the bloc without any agreements in place about what their relationship would be in the future.
In that case, World Trade Organization (WTO) custom tariff which ranges from six to 18 percent depending on the nature of the product would apply, according to Richard Hyslop, senior policy advisor to the Falkland Islands government.
“It’s critical that we retain our tariff-free access (with the EU),” Teslyn Barkman, who is in charge of managing natural resources and Brexit related issues with the archipelago’s government, told AFP by telephone, adding it was a “life or death” issue for the Falkland’s economy.

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