Pakistan PM: joint investment company will enhance Pakistan-China ties

The Pakistan-China Joint Investment Company will help cement ties between the two countries, Pakistani Prime Minister Shaukat Aziz said here at the ongoing annual conference of the Boao Forum for Asia (BFA).

The company, which will focus on investment in shares, industry and infrastructure, is expected to provide convenience for Chinese entrepreneurs to invest in Pakistan, said Aziz at the BFA Annual Conference 2007 in south China's Hainan Province.

He said the company will aid Chinese investors in exploring opportunities in Pakistan and provide financial support for projects that Chinese firms have bid in the country.

Aziz said Chinese entrepreneurs are competitive, efficient and adept at business operations, and have succeeded in the bids for 75 to 80 percent of major projects in Pakistan.

The figure shows exciting development of cooperation and exchanges between the two countries, he said.

Pakistan is located at the converging point of the Middle East, central and south Asia, and is a transport, trade and energy corridor that connects east Asia with the Middle East, Aziz said.

He said the newly inaugurated Gwadar deep seaport will facilitate the shipping of oil from overland to China, and the country is also upgrading highway links between north Pakistan and western China.

Aziz began an official visit to China on April 16. The two countries issued a joint statement on April 20 to create a Pakistan-China Joint Investment Company in July this year.

The Free Trade Agreement (FTA) between China and Pakistan on goods will become operational on July 1, 2007.

Source: Xinhua