Mining, oil and gas: Pakistan, China agree to strengthen cooperation

China and Pakistan have agreed to boost mining cooperation and promote the implementation of a pact on strengthening mining development and industrial cooperation, according to a joint statement from the two countries. Pakistani Prime Minister Shehbaz Sharif visited in Beijing from June 4 to 8, in a bid to upgrade cooperation under the multi-billion dollar China-Pakistan Economic Corridor (CPEC), which is a key part of Beijing’s Belt and Road Initiative.

The countries will promote investment by Chinese firms in Pakistan’s mining industry, and strengthen the planning of mining industry parks, including deep processing of ores, according to the joint statement published by China’s foreign ministry.

China will strengthen cooperation with Pakistan in areas such as marine oil and gas resources and natural gas hydrates, and will encourage Chinese firms to participate in the development of offshore oil and gas blocks in Pakistan, said the statement.