President for boosting Pak-China trade

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ISLAMABAD - President Asif Ali Zardari has called for further enhancing bilateral trade and investment cooperation between Pakistan and china in various fields.

There exists tremendous potential of cooperation and joint ventures between the two countries in variety of fields, the President said in his meeting with a Chinese delegation here at Aiwan-e-Sadr on Monday.

The delegation comprised Sou Lang Duo Ji, a prominent Chinese businessman and founder of Hong Kong listed company, China Lumena New Materials Corp, Nasir Ali Shah Bokhari, KASB Bank Executive Vice-President, Arif Ali Shah Bokhari, Tang Meng Sheng and Hunaid Lakhani. From Pakistani side, Dr Abdul Hafeez Sheikh, Federal Minister for Finance, Revenue & Economic Affairs, Syed Naveed Qamar, Federal Minister for Water & Power, M Salman Faruqui, Secretary General to the President, Spokesperson to the President Farhatullah Babar and other senior officials were also present in the meeting.

Briefing the media, Spokesperson to the President Farhatullah Babar said that China Lumena Company with its capital over US $ 4 billion was one of the largest producers of special industrial chemicals.

Sou Lang Duo Ji, who is also the owner of Laos Construction Bank, briefed the President about various projects being undertaken by his company and the investment made in Pakistan in energy, mining, banking and finance sector in Pakistan. Sou Lang Duo Ji apprised that an investment of $40 million had already been made in KASB Finance, a holding company of KASB Bank, and promised more investment in various sectors of the economy. He also briefed the meeting about his existing engagement in Pakistan including a new 164 MW power project investment of grange power in Punjab, iron ore mining and beneficiation for 100,000 tons per month.

The spokesperson said that the President appreciated the company s interest in setting up a new industrial zone in Zulfikarabad and said that it would further boost investors confidence for investment in Pakistan, besides generating employment for the people of the area. The President during the meeting said that Pakistan highly valued Chinese assistance to the country in overcoming economic difficulties and development. He said that Pak-China friendship had now been transformed into a mutually beneficial economic equation which would not only jack up bilateral cooperation between the two countries but would also help to take advantage of economic expertise and tremendous progress made by China.

He said that the government was committed to providing all possible assistance and facilitation to Chinese companies involved in various projects in the country.

The delegation thanked the President for meeting and facilitation to the Chinese investors involved in various projects in Pakistan.



Courtesy: Nation

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