Full Text of the Common Vision for Deepening China-Pakistan Strategic Cooperative Partnership in the New Era (3)

14. Both sides reaffirmed that expanding bilateral economic relations was a matter of high priority. The two sides agreed that China is committed to realizing the Chinese dream of national rejuvenation by accelerating the transformation of the pattern of economic development and earnestly pursuing the strategy to develop its western region. Meanwhile, Pakistan is committed to reviving the national economy and realizing its "Asian Tiger dream". The development strategies of the two countries therefore coincide with each other. Both sides decided to further strengthen the ties of pragmatic cooperation between them, with a view to translating their high-level political relationship into wider economic dividends. To this end, the two sides will strengthen cooperation in trade, investment, energy, agriculture, mining, food security, environment, finance and other fields.

15. The two sides agreed to fully implement the Additional Agreement to Extend the Five Year Development Programme on China - Pakistan Trade and Economic Cooperation and the China-Pakistan Free Trade Agreement; fast track work on the projects identified under the Five Year Development Program; hold the second phase of tax-reduction negotiations of China-Pakistan Free Trade Agreement on speedy basis; further liberalize trade, and advance economic integration between them.

16. Enhancing connectivity between China and Pakistan is of great importance to expanding economic and trade cooperation, promoting economic integration, and fostering economic development of the two countries.

17. To develop the Long-term Plan for China-Pakistan Economic Corridor, both sides agreed to set up the Joint Cooperation Committee on the Long-Term Plan for China-Pakistan Economic Corridor, with the National Development and Reform Commission of China and the Planning and Development Ministry of Pakistan as leading ministries, and secretariats established in both ministries. Ministerial officials of both countries held talks in Beijing recently. The Chinese side will dispatch a working group at an early date to Pakistan for further consultations.

18. Both sides agreed to start work on the Long-term Plan for China-Pakistan Economic Corridor on speedy basis. The plan will mainly include such areas of cooperation as connectivity construction, economic and technical cooperation, people-to-people and cultural exchanges, and exchanges between local governments and organizations.

19. Both sides agreed that they will focus on the following areas of cooperation in the near future under the framework of the Long-Term Plan for China-Pakistan Economic Corridor: start the China-Pakistan Cross-border Fiber Optic Cable project at an appropriate time, upgrade and realign the Karakoram Highway on fast-track basis, explore cooperation on solar energy and biomass energy, explore construction of industrial parks along the Pakistan-China Economic Corridor, launch at an early date inter-governmental consultations to implement the Digital Television Terrestrial Multimedia Broadcasting (DTMB) in Pakistan, coordinate the commercial operation of TD-LTE in Pakistan, and enhance cooperation in the wireless broadband area.