China pledges to help Pak overcome its economic woes

Beijing, Oct.16 : China on Thursday pledged to help Pakistan overcome its current economic woes, a day after both countries clinched agreements aimed at boosting Beijing's involvement in the Pakistan economy.

Chinese Premier Wen Jiabao told Pakistan President Asif Ali Zardari and his delegation that China is ready to advance strategic cooperation with Pakistan.

According to Xinhua, China's official news agency, Wen pledged to overcome Pakistan's economic problems, but did not specify what type of aid China would provide.

Zardari also held talks with top legislator Wu Bangguo and other senior Chinese leaders, along with major figures in finance, infrastructure, energy and telecommunications, the Chinese state media reported.

Separately, Foreign Ministry spokesman Qin Gang told reporters at a regular news briefing that Beijing stands ready to assist Pakistan.

As an all-weather friend, China understands that Pakistan is facing some financial difficulties and we're ready to support and help Pakistan within our capability,'' Qin said, adding that the two governments' financial officials will keep in communication.''

On Wednesday, Zardari met with President Hu Jintao and highlighted the historic friendship between the two countries. Such ties loom large as Pakistan seeks assistance in alleviating an economic crisis brought on by higher food and energy prices.

Agreements signed between the two countries included deals on economic and technical cooperation, minerals, environmental protection, agricultural research and electricity.

Specifics of the deals were not immediately available, but sources said Thursday that one of the agreements was for China to launch a telecommunications satellite for Pakistan in the first half of 2011 from a launch center in Sichuan, in China's southwest.

ANI