Research and Development International (RANDI) : China and Pakistan launch economic corridor plan worth $46bn
According to reports, Pakistan and China would launch a
joint think tank named Research and Development International (RANDI).
Chinese president Xi Jinping is on a two-day state visit to Pakistan.
He has signed a number of important agreements and MoUs
worth $46 billion the centrepiece of which is a Pakistan-China Economic
Corridor between Pakistan's southern Gwadar port on the Arabian Sea and China's
western Xinjiang region.
The two countries are set to cooperate in gas, coal, and
solar energy projects to provide 16,400 megawatts of electricity - roughly
equivalent to the country’s entire current capacity.
During the day, Pakistan and China signed 51 agreements in a
number of areas including infrastructure development to energy.
The Chinese president was also awarded the country's highest
civilian honour, the "Nishan-e-Pakistan".
It will enable China to create a shorter and cheaper route for
trade with other countries.
Mr. Xi is the first Chinese head of state to visit Islamabad