President for maximum utilization of real trade and investment potential between Pakistan, China

Islamabad: President Asif Ali Zardari Tuesday urged for maximum utilization of the real trade and investment potential existing between Pakistan and China to the mutual benefit of the people of the two countries.

The current volume of Pak- China bilateral trade was far below the real trade potential existing between the two countries. The President said that there exists a win-win situation for the two countries to strengthen the existing equation with more investment and more economic cooperation as our Chinese brothers have the expertise and we offer the opportunities and liberal incentive packages for investment in Pakistan in a variety of fields.

He said this while talking to delegation of Chinese Telecom conglomerate ZTE at the Aiwan-e-Sadr on Tuesday. The delegation included Mr. Fan Qingfeng, Mr. Li Honghui, Mr. Peng Alguang and Mr. Najeeb Sadiq.

Mr. M. Salman Faruqui, Secretary General to the President, Mr. Khalil Ahmad, Ambassador at large, Dr. Waqar Masood Khan, Secretary Finance , Mr. Saeed A. Khan, Secretary IT & Telecom and Spokesperson to the President Mr. Farhatullah Babar were also present during the meeting.

The President while recalling his previous visits to China said that Pakistan was keen to learn from the Chinese economic and development miracle and benefit from its expertise in diverse areas of defence, energy, industry, agriculture, communications and commerce and trade.

He said that his frequent visits were in line with the vision of PPP leadership and a government policy to jack up Pak- china bilateral cooperation to new heights and explore some new initiatives to further promote the economic ties between the two countries.

The President appreciated the ZTE’s role in the development of Pakistan’s Telecommunication sector and said that Chinese companies had made significant contributions to Pakistan’s economy through direct investment. The President called upon ZTE to develop technical skills of the local labour force.

The President said that Pak- China cooperation and low cost Pakistan labour force could help develop the region as manufacturing hub for the benefit of both countries. He reiterated that ZTE may consider developing a research and development centre in telecommunication and a plant for manufacture of mobile handsets in Pakistan.

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