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Chinese president to visit Pakistan on April 20, hammer out $46-billion deal

Pakistan announced on Thursday Chinese President Xi Jinping will arrive in Pakistan on April 20 for a two-day visit, Tribune reported.

Chinese President Xi Jinping will launch energy and infrastructure projects worth $46 billion on a visit to Pakistan next week as China cements links with its old ally and generates opportunities for firms hit by slack growth at home.

Also being finalised is a long-discussed plan to sell Pakistan eight Chinese submarines.The deal, worth between $4 billion and $5 billion, according to media reports, may be among those signed on the trip.

Pakistan and China often boast of being “iron brothers” and two-way trade grew to $10 billion last year from $4 billion in 2007, Pakistani data shows.

Xi’s trip is expected to focus on a Pakistan-China Economic Corridor, a planned $46-billion network of roads, railways and energy projects linking Pakistan’s deepwater Gwadar port on the Arabian Sea with China’s far-western Xinjiang region.

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