China, Afghanistan sign pacts to boost cooperation

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IANS | 25 Mar, 2010
China and Afghanistan Wednesday signed a number of pacts to boost cooperation between the two countries, Xinhua reported.

Chinese President Hu Jintao and visiting Afghan President Hamid Karzai witnessed the signing of the documents on favourable tariffs for Afghan exports, economic and technological cooperation, among others. Karzai said Afghanistan was honoured to have China as a friend.

Both countries have established diplomatic links in the 1950s, and since then, Chinese engineers have built hospitals and dams in the Central Asian country.

Since 2002, China has given more than 900 million yuan ($130 million) in aid to Afghanistan. Last year, China announced it will give $75 million in aid to Afghanistan over the next five years.

Karzai lauded China for its support to Afghanistan, mainly during past eight years of Hu's presidency. Bilateral trade has been growing rapidly in recent years, reaching $155 million in 2008. Starting from July 2006, China has applied zero tariffs on 278 export items from Afghanistan.

The collaboration between China Metallurgical Group Corp. and Aynak copper mine in Afghanistan helped create jobs for thousands of people in the Central Asian country. Besides economic links, the two countries have expanded cooperation in other areas, including fight against terrorism.