Sharif signals positivity on 'Hong Kong like' trade corridor with China

Pakistan Prime Minister Nawaz Sharif has said the government was in talks with China to open a 'Hong Kong like' trade corridor at Gwadar in Balochistan, which will attract foreign investment and boost national economy.

Sharif has said the Chinese Delegation will be coming to Islamabad on Monday to discuss the possibility of the Kashgar to Gwadar economic corridor, the Dawn reports.

Sharif said that the Gwadar Port would open up new areas for economic activity and generate employment in the underdeveloped areas of the country.

Sharif also approved US 2.7 billion dollars in principal upgradation of the existing railway track between Karachi and Peshawar.

It is being speculated that the new railway system will modernise signaling, communications, locomotives and enable the trains to run at a speed of 120 km per hour.

He, however, said that the economic activity in the country could only be expedited once there was peace and tranquility.