China to extend aid for Pakistan’s space mission

China, the trusted friend of Pakistan, has announced its decision to provide funds to Pakistan for its space research operations. The country will provide aid for the launch of Pakistan's first ever satellite and space mission.

Both countries would sign a Memorandum of Understanding (MoU) for the deal next week, as stated by Lou Zhaohui, Chinese Ambassador to Pakistan. Zhaohui said that Chinese President Hu Jintao and his Pakistan counterpart AA Jardari will hold bilateral discussions on the sidelines of the United Nations General Assembly gathering in New York. Both leaders will discuss various issues of mutual cooperation, in a bid to strengthen their bilateral ties.

Zhaohui's statement, as appeared in Pakistani daily - The Dawn - states, "The focus would be on a wide range of regional and international issues, but of course the emphasis would be on bilateral relations. The interaction will further deepen friendship with China."

The Chinese ambassador asked for the need to establish personal and concrete cooperation for improving existing ties. The country has already supported Pakistan on many fronts, including $1 billion funds the country had released for improving Pakistan'sforeign exchange reserves.

China said on Friday that it would provide financial assistance to Pakistan for launching its first satellite and a memorandum of understanding in this connection would be signed next week.

Addressing a press conference, Chinese Ambassador Lou Zhaohui said President Asif Ali Zardari and his Chinese counterpart Hu Jintao would meet in New York this month on the sidelines of UN General Assembly.

He said talks between the two leaders would cover bilateral relations as well as regional and international issues. He said that Pakistan’s economy had improved over the last one year and security situation too was improving.

He said China had already given $1 billion to help improve Pakistan’s foreign exchange reserves.