29 February 2004	Sunday	08 Muharram 1425

BEIJING, Feb 28: Representatives of some prominent Chinese companies from various sectors attended a business seminar held here on Saturday and showed keen interest in taking part in investment activities in Pakistan.

Addressing the seminar held at the Pakistan Embassy, Ambassador Riaz Mohammad Khan said that Pakistan was actively considering setting up a special economic zone (SEZ) in the country for Chinese investors. It aimed at providing them maximum possible incentives for enhancing economic collaboration.

The government of Pakistan, he said, was examining various proposals and ideas for establishing the SEZ on a sound footing, which could contribute tremendously to the development of China- Pakistan economic ties.

In this connection, he said, Pakistan was also consulting with the Chinese government and the chambers of commerce and industry. The ambassador briefed the participants about the investment incentives being provided by the government of Pakistan, especially to the Chinese investors.

The ambassador expressed the hope that the annual trade volume between the two countries, which had reached about $2.5 billion, would get a big boost with the establishment of special economic zone.

He said there were bright prospects for working together, promoting their trade to Central Asian States, the Middle East and African countries. "The businessmen can join hands for setting up export-oriented industries. Pakistan can act as economic bridge for the Chinese to enhance their export to the regional countries," he added.

Mr Khan invited the Chinese investors to take benefit of tremendous business opportunities available in Pakistan, especially in sectors like hydro-power, textile, electronic, oil and gas, automobiles, construction, chemicals and information technology.

Highlighting the investment incentives in the country, the ambassador said these include long-term tax holiday, repatriation of basic capital and profit to their own country.

The participants of the seminar asked searching questions to know more about the investment and trade opportunities. Commercial Counsellor Shahid Mahmood also answered questions explaining business opportunities available in various sectors. He said Pakistan would also welcome China's investment in the expansion of steel industry. The two countries, he said, could also cooperate in the silk sector.-APP