Pakistan, Mainland China Ink Deal on Economic Co-Operation Including Gold, Copper Extraction

Maybe the deal is fallout related to Pakistani protests over the U.S. Navy SEAL slaying of Osama bin Laden without notifying the Pakistani government first. Whatever the reason, the governments of Pakistan and mainland China have signed an economic co-operation deal that encompasses banking, economic and technical co-operation, plus extension of gold and copper extraction from the Saindak mines. The deal also includes a 70 million renminbi grant to Pakistan for flood relief and a 100 million renminbi soft term loan.

The agreements include a Memorandum of Understanding (MoU) between China Banking Regulatory Authority and State Bank of Pakistan, and two agreements; one on economic and technical cooperation and the other on extending the Saindak Gold and Copper Mining Project up to year 2017.

The two leaders also agreed to further strengthen their existing close and deep rooted multifaceted ties and strategic partnership through increased cooperation in diverse fields.

Prime Minister Gilani and Premier Wen held a frank exchange of views on various issues of mutual interest, including bilateral relations and situation in the region.
Premier Wen Jiabao said he had “an in-depth exchange of views on bilateral relations and major international and regional issues.”

“We have also reached a broad consenus that no matter what the global landscape is we will remain good neighbours, friends and partners.”

He hoped that Prime Minister Gilani’s visit would help boost friendship and cooperation between the two countries and take them to new heights.

He acknowledged Pakistan’s contributions in the war against terror and said relations between the two countries have stood the test of time.

That last statement is a bit of a dig against the United States government, which has been less than pleased with the Pakistani government's performance with respect to the War on Terror for some time.