Prime Minister Syed Yusuf Raza Gilani and Chinese Premier Wen Jiabao on Monday expressed their resolve to further strengthen bilateral ties in economic, defence and energy sectors for the mutual benefit of two countries. The two leaders, who met on the sidelines of summit of Shanghai Cooperation Organization (SCO) here in Petersburg, discussed the whole gamut of strategic and economic cooperation between their countries. They discussed the matters relating to agriculture, power generation and finance, besides reviewing progress on Sino-Pak bilateral ties. The meeting, which was scheduled for 40 minutes, lasted for more than an hour. Chinese Premier Wen reiterated his governments support for Pakistans sovereignty and territorial integrity. He underscored the importance of time-tested strategic partnership between China and Pakistan, an official told APP. He expressed appreciation for Pakistans role in fight against terrorism and extremism and called for greater international recognition of its efforts and sacrifices in this regard. Wen also commended the Pakistan governments principled stand to safeguard its sovereignty without bowing to undue pressure. He said China supported Afghanistans stability and security because it had bearings on regional stability and security. It is for this reason that China supports political reconciliation process with Afghanistans ownership, he added. Prime Minister Gilani said his country attached great importance to enhancing economic and trade links with China which include promoting closer collaboration in energy, mining, infrastructure, information technology, telecom, agriculture, irrigation, railway, communication, finance and banking. He called upon the expedition of currency swap between the two countries. Gilani said strategic and defence cooperation was an important component of both the countries. He said Pakistan applauded Chinas active role in Shanghai Cooperation Organization and its support for Pakistans full membership. He said that mega projects like Gwadar, Korakorum Highway, Heavy Mechanical Complex and Neelum Jhelum Hydro-electric plant were being completed with Chinas assistance. He said Pakistan was grateful for the on-going cooperation in the peaceful use of nuclear technology. Prime Minister Gilani sought investment by Chinese companies in Pakistans various areas and stressed the need for making efforts to realize full potential of bilateral trade. Chinese Premier stressed upon regional solution for regional issues and said China welcomed Pakistan-India dialogue. He added that it would benefit the people of the two countries in particular and the region in general. He congratulated Pakistans election to the United Nations Security Councils non-permanent seat, adding that Pakistan would play an important role in promotion of international peace. Gilani thanked the Chinese government for supporting Pakistan for the UN Security Councils non-permanent seat. He said that Pakistan supported an Afghan-led and Afghan-owned peace and reconciliation process. He said Pakistan was not part of the problem but was part of the solution and added that the otherwise situation could create instability in Pakistan as was the case after the Soviet Unions withdrawal in 1989. He reiterated Pakistans support to China on its stance on Taiwan and Tibet. Gilani appreciated Chinas principled position and support for Pakistan in the wake of recent threats and pressure. Both the leaders were of the view that the two nations were against terrorism and would continue to cooperate with each other to eliminate this threat. Gilani said it was high time to address the global economic crisis and find out a way to counter its impact on growing economies. During the meeting the two leaders also noted that both Pakistan and China shared similar views on important regional and global issues and would continue to extend support to each other at all levels. They also agreed on exploiting the full potential of two business communities to boost their economy and trade. The Prime Minister said that Pakistan sent a delegation of 100 youths to China last year and would be sending more this year. He said he had introduced cultural language institutes in Pakistan, adding that more exchange of delegations of students should take place between the two countries. The Prime Minister recalled his visit to Beijing where he met the students learning Urdu in Chinese institutions. In the field of energy, the Chinese bank ICBS has shown keen interest to finance the Iran-Pakistan gas pipeline. Both the sides agreed to renew the five-year Trade Development Plan between the two countries. Gilani said that the volume of trade between the two countries did not commensurate with the strategic and geographical proximity equation. Pakistans trade can touch the figure of 15 billion dollars conveniently in next three years, he said. The Chinese Premier said the work of reconstruction and repair of roads was underway after the relief and rescue operation in the flood-affected areas. He emphasized on the reopening of Korakorum Highway, parts of which had been submerged due to the Ataabad Lake. Gilani said he was grateful for the Chinese government for extending help in dealing with the aftermath of Ataabad Lake which had halted the flow of people and transportation of goods.