January 25, 2002	Friday	Ziqa’ad 10, 1422

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ISLAMABAD, Jan 24: Two high-powered Chinese trade delegations are coming to Pakistan in March to finalise plans for setting up a special industrial zone for “Chinese Silk Park” and textile sector joint ventures.

Both the delegations on joint ventures and silk park would be led by Chinese vice ministers and would stay here for around a week each.

The Chinese are coming after Pakistani delegations, led by Commerce Minister Razak Dawood and Petroleum Minister Usman Aminuddin, visited their country in recent months.

The second delegation would comprise leading textile manufacturers who would enter into joint ventures with Pakistan companies for establishment of factories besides exploration and production activities.

Pakistan has decided to increase visits of companies and officials to China to increase its share in the $240 billion export market in China and to have a bilateral strategic alliance.

The Chinese would visit textile industry in Faisalabad which was now undergoing extensive restructuring through conversion from power looms to air-jet looms and automatic looms.

The industries ministry believed that power looms were no more economical and competitive in the modern international market.