China welcomes investments of third countries, including Saudi Arabia, in the construction of the China-Pakistan Economic Corridor (CPEC) infrastructure project, Chinese Foreign Ministry Spokesman Geng Shuang said on Tuesday
BEIJING (Pakistan Point News / Sputnik - 19th February, 2019) China welcomes investments of third countries, including Saudi Arabia, in the construction of the China-Pakistan Economic Corridor (CPEC) infrastructure project, Chinese Foreign Ministry Spokesman Geng Shuang said on Tuesday.Last year, Pakistani Information Minister Fawad Chaudhry said that China and Pakistan were interested in expanding the CPEC project and revealed that Saudi Arabia became the first country invited as third partner in the project, expressing hope that Riyadh would make big investments in Pakistan. In September, Chaudhry announced that Pakistan and Saudi Arabia signed three major investment deals for the CPEC project.
"China is pleased to see Pakistan's friendly cooperation with other countries, including Saudi Arabia. Last year, during the visit of Chinese Foreign Minister Wang Yi to Pakistan, the parties agreed to welcome investments of third countries in the construction of the China-Pakistan Economic Corridor," Geng said at a briefing.
Saudi Arabia's Crown Prince Mohammed bin Salman began on Sunday his Asian tour with a two-day visit to Pakistan, during which Riyadh and Islamabad signed agreements worth $20 billion, including deals on the supply of oil and oil products from Saudi Arabia to Pakistan. The two parties also signed memorandums of understanding on the development of oil refining, petrochemistry and electricity in Pakistan.
The CPEC is a $46 billion-worth infrastructure project funded by China that aims to increase the region's integrity by connecting the Pakistani port city of Gwadar and China's Xinjiang Uyghur Autonomous Region via transportation routes.
