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Pakistan, China to strengthen bilateral trade: PM
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07:52, August 02, 2007

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The signing of the Free Trade Agreement, Cooperation Agreement and the establishment of a Pak- China Joint Investment Company will pave the way for further strengthening existing trade and cooperation between Pakistan and China, Pakistani Prime Minister Shaukat Aziz said Wednesday in Islamabad.

Aziz was talking to Hou Baoxu, President of the Metallurgical Construction Corporation (MCC), the Chinese partner of Pakistan's Ruba Group investing in consumer products industry in Pakistan, who called on Aziz at the Prime Minister's Secretariat Wednesday.

Aziz said that as a result of the investor-friendly and growth- oriented policies of the present government, Pakistan had emerged as a destination of choice for foreign investors.

The unique demographics of Pakistan with its 100-million population below the age of 25 had led to the emergence of a middle class, which has become the backbone of Pakistan's economy presenting a huge market for investment in all sectors including housing and construction, he added.

Pakistan's economy was open for investment in all sectors including construction, exploration, mining, industry, services and other sectors, the prime minister said.

Aziz appreciated the fact that the Chinese government-owned MCC company with a capital of about 20 billion yuan (about 2.64 billion U.S. dollars), had made its first and biggest overseas investment by joining the Pakistani market.

He said that he was pleased to learn that a number of major Chinese companies were investing in Pakistan and assured them of every possible support and help in facilitating their operations.

Hou appreciated the forward-looking economic policies of the Pakistani government and said that consistency and continuity of these policies had established investors' confidence.

Source: Xinhua

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