November 21, 2001	Wednesday	Ramazan 5, 1422

BEIJING, Nov 20: China on Tuesday agreed to extend financial and technical support to Pakistan for development of garment and leather industry.

An agreement to this effect was arrived at a meeting held here between the visiting Commerce Minister Razak Dawood and his Chinese counterpart Shi Guang Sheng.

Razak Dawood told APP that the two sides decided to enhance economic activity in the coming years, which could match the level of political and diplomatic ties.

He said the two countries would give a major boost to their economic relations during the forthcoming visit of President Pervez Musharraf to China.

The minister, who is accompanied by a group of Pakistani investors, spent busy day on Tuesday, and met with several Chinese officials and businessmen.

The two sides discussed prospects of enhancing mutual trade and identified areas of cooperation. The Commerce Minister invited the Chinese manufacturers to invest in the Export Processing Zones and take advantage of market access in Pakistan.

Razak Dawood held a separate meeting with the President, China National Textile Import and Export Corporation, and discussed with him ways and means to enhance their cooperation for maximum benefit of their people. It was observed that there was a good scope for China’s garment sector to re-process Pakistan grey cloth.

China, the minister added, could also invest in Pakistan’s textile sector. Both the sides agreed to consider proposals for future expansion of cooperation for transfer of technology in textile and leather industry.

A meeting was also held between Pakistan side and Wang Sheng Yang, Chairman, China Council for Import and Export. Both sides identified areas for restructuring and expansion of Pakistan textile industry, with special reference to Chinese assistance.

The Commerce Minister explained to his Chinese friends that even after Sept 11 incident, all sectors of Pakistan’s economy continued to function without any interruption and have been able to fulfil their import and export obligations and there was no reason to suspect any problem in this regard.

The members of Pakistani delegation also held separate meetings with textile, polyester fibre and leather manufacturers and exporters.

The delegation will be leaving here on Wednesday for Guangzhou province on a two-day visit for talks with provincial authorities and businessmen for the future prospects of bilateral cooperation in leather and textile sector.—APP