Article Posted on : - Oct 16, 2009

Pakistan Prime Minister Yusuf Raza Gilani and Chinese Premier Wen Jiabao. A file photo.

BEIJING (PTI): Further cementing their 'all weather ties', China and Pakistan signed two agreements and MoUs pertaining to space technology and energy as Beijing pledged USD 190 million for a satellite project.

Prime Minister Yusuf Raza Gilani and Chinese Premier Wen Jiabao expressed their resolve to further strengthen bilateral ties in economic, defence and energy sectors for mutual benefit of the two countries.

The concessional loan agreement for supply of satellite was signed under which China will provide an amount of USD 190 million for the supply of PAKSAT-1R which will replace PAKSAT-1 that has lifespan till 2011, the APP reported Thursday.

The two leaders reviewed the progress on Sino-Pak bilateral ties.

Pakistan and China agreed to more than double their bilateral trade to USD 15 billion by year 2011 from the existing USD 7 billion, Foreign Secretary Salman Bashir said.

The two sides also discussed the measures to carry out projects of communication including railway and road links and fibre optic. Pakistan and China agreed on making efforts to realise full potential of Gwadar Port, he said.

Gilani met the Chinese leader as he concluded his four-day official visit to China, where he attended the summit of Shanghai Cooperation Organisation besides holding talks with Chinese President Hu Jintao, Russian Prime Minister Vladimir Putin and other SCO leaders.