CPEC Strengthens Bilateral Relations Between Pakistan And China

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Sep, 2018 ) :China Pakistan Economic Corridor (CPEC) has added another dimension to the already strong bilateral relations and it is expected to bring high dividends to both countries.

It was stated by Federal Minister for Law and Justice Dr. Muhammad Farogh Naseem during a meeting with Ambassador of China to Pakistan Yao Jing who called on him here on Monday.

They discussed bilateral issues between the two countries. The minister said that Pakistan and China share a very special and close relationship.

He said that Pakistan values China as its most reliable friend as well as partner, adding that Pak-China friendship has evolved into an "All weather strategic cooperation partnership".

Both the sides agreed to enhance the collaboration at people to people level which includes interaction between the educational institutes, academia and young generation.

Dr. Farogh Naseem suggested to the Chinese Ambassador that the disputes between Chinese and Pakistani businessmen, whether pertaining to CPEC or otherwise, should be settled amicably.

And only in matters where an amicable consensus is not reached that a special dispute resolution mechanism should be agreed between the two countries where the Arbitral Tribunal should have two Judges, Arbitrators, Consultants or Conciliators, one from China and one from Pakistan, he added.

He also suggested that no dispute between China and Pakistan should be taken to any international forum, but we should develop our own mechanism to settle the disputes.

The Law Minister further suggested that in all commercial disputes the award should be either in Pak Rupees or the Chinese Yuan or a common Currency may be devised.

The Law Minister further stressed that Pakistan has every capacity to train Chinese lawyers and businessmen in international legal and commercial documentation which will help the Chinese in contesting their cases abroad.

Dr. Farogh Naseem also suggested that if the Pak-China experimentation of a dispute settlement mechanism becomes a success, then this forum could also serve the entire region which could include Central Asia, Turkey, Iran, Iraq, Afghanistan, Sri Lanka etc.

Mr. Yao Jing appreciated the suggestions of Law Minister and reiterated his Government's desire to work closely with the new Government.

He emphasized to further strengthen Pakistan-China bilateral relations. China valuesits relations with Pakistan and wants to work with the country for the development of the entireregion, he added.