Zardari calls for enhanced trade, investment cooperation with China

Islamabad: President Asif Ali Zardari on Monday urged for further enhancing bilateral trade and investment cooperation between Pakistan and China in various fields. He said there existed tremendous potential of cooperation and joint ventures between the two countries in a variety of fields.

The President said this in his meeting with a Chinese delegation at Aiwan-e-Sadr. The delegation comprised of Suo Lang Duo Ji, a prominent Chinese businessman and founder of the 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 Pakistan side Federal Minister for Finance, Revenue and Economic Affairs Dr. Abdul Hafeez Sheikh, Federal Minister for Water and Power Syed Naveed Qamar, Secretary General to the President M. Salman Faruqui, Spokesperson to the President Farhatullah Babar and other senior officials were also present in the meeting.

Briefing mediapersons, Spokesperson to the President Farhatullah Babar said that the China Lumena Company with its capital of over US $ four billion was one of the largest producers of special industrial chemicals. Suo Lang Duo Ji, who is also the owner of Laos Construction Bank, briefed the President about the various projects being undertaken by his company and the investment made in Pakistan in energy, mining, banking and finance sector.

Suo Lang Duo Ji said 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 President 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. The delegation thanked the President for meeting and facilitation to the Chinese investors involved in various projects in Pakistan.

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