China, Pakistan ink trade deals during Wen’s visit

Pakistan and China signed nearly two dozen private sector deals worth billions Saturday, the second day of a rare visit by Chinese Premier Wen Jiabao to this impoverished, conflict-ridden ally.

Including government deals inked Friday, the two sides have agreed to 35 new pacts expected to bring up to $30 billion dollars of investment to Pakistan over the next five years, Islamabad said.

China is Pakistan’s closest friend in Asia, giving Islamabad military aid and technical assistance, including nuclear technology. Crucially, most Pakistanis view China as an ally that, unlike Washington, doesn’t make demands for its assistance.

But Beijing is hardly left empty-handed from its ties with Pakistan, which serves as a close, cheap source of natural resources to fuel its growing economy.