December 6, 2002	Friday	Shawwal 1,1423

BEIJING, Dec 5: China has offered new trade opportunities to Pakistani businessmen to undertake joint ventures in its western region, Xinjiang.

Xinjiang, a Muslim majority province has rich potential to emerge as hub of Sino-Pakistan economic activities, with new opening in the fields of agriculture, light industry, foodstuff, textile, medicines and petrochemical industry.

A province, with a population of 18.46 million, close to Pakistan’s border, envisages rich lucrative business opportunities for Pakistani entrepreneurs, said a senior official.

He told APP here on Thursday that the Provincial Government has recently unfolded an investment package for foreign investors, including those from Pakistan. “We offer to undertake joint ventures in the fields of common interest for improving socio-economic life of their people,” the official added.

He said Pakistan and Xinjiang that have distinction of enjoying land route communication link through Khunjrab Pass have bright prospects to further develop bilateral ties.

Chinese Central Government has also made comprehensive plan to develop its Western Province. The Provincial Governors Abdul Ahad Abdul Rashid has listed more than 50 projects for economic and technical cooperation and assured that the foreign investors would be provided all possible incentives to develop Xinjiang for the mutual benefit.

Deputy Head of Pakistan Mission in Beijing Syed Hasan Javed said genuine and credible business companies should come forward to take benefit of the new opportunities, in the wake of the growing economic partnership between the two countries, after China’s entry into WTO.

He said Pakistani businessmen could draw major benefits, provided they carry out their trade through legal way, strictly abiding by the prevailing rules and regulations.

Xinjiang has become the largest base for cotton production and one of the important productions regions for grain, husbandry, sugar, fruits and melons. It has full range of industries, including steel, coal, petroleum, power, and machinery, building materials, textile, papermaking, leather and tobacco.

In the recent years the two countries have made a good headway to improve their economic relations, but still they have to go a long way exploiting their excellent diplomatic relations for the economic benefit of their people.

Various Xinjiang-based Chinese companies have shown keen interest in cooperating with Pakistan for producing cheap electricity through windmills at its coastal areas.

Despite the global economic downtown, China’s west attracted more than $4.4 billion in contractual foreign investment in 2001, with $1.924 billion put to use. Both the figures represent increases of over 15 per cent.

According to the Chinese officials, the growth rate of direct foreign investment in the region has kept rising and surpassed the national average over the past three years, according to the Ministry of Foreign Trade and Economic Cooperation (MOFTEC).

MOFTEC statistics show that the number of foreign-funded enterprises in west China has grown by 44.6 per cent annually since the 1990s, 14 percentage points higher than that in east China.

Over 56 per cent of China’s total land space and with a population of 300 million, the western region has a great proportion of scientific and technological personnel, and abundant labour resources. The region also boasts very rich natural resources.

China launched a strategic campaign to develop its vast west region in the late 1999, which has already caught worldwide attention.—APP