Yao Jing, a Chinese ambassador in Pakistan, said on Monday that China is going to open their market for Pakistani to broaden the collaborative relation between the two parties.
According to Jing, ninety percent of the Chinese market is going to be shared, agreed by this country government. This will be a big change to the economy of Pakistan, and open a developing prospect for China as well.
On April 25, Pakistani Prime Minister Imran Khan is going to visit China for three days for an official visit. This visit marks a significant milestone in the relation between two countries, as the leaders will sign on a Free Trade Agreement to create favorable conditions for the market development.
Karachi is recently in need of a circular railway, and according to Yao Jing, Chinese government will be ready to provide support and aid if Pakistan asks for. However, in terms of a financial issue, it will take more time for the Chinese government to finalize their agreement to reach a proper decision.
As a reaction to the situation, the US and IMF officials said that they doubted the package may turn out to be the payment of Pakistan for the Chinese debt. As the direct reply after the concern of the US and IMF, China immediately fed back that they do not need a return in loan from Pakistan within the next 3-5 years. Instead, the period for loan may be lengthen to 25-30 years.