July 07, 2007	Saturday	Jamadi-us-Sani 21, 1428

ISLAMABAD, July 5: The Dong Feng Automobile Company of China has shown interest in entering into joint venture with the Pakistan Automobile Company (Paco). This was stated by a delegation of the Dong Feng during their meeting with the Federal Minister for Industries Jahangir Khan Tareen here on Thursday. The delegation is on a visit to Pakistan to discuss the possibility of a joint venture with Paco.

An official announcement issued here said that the meeting discussed the possibility and terms and conditions of the joint venture between Paco and Dong Feng.

It was decided that discussions would continue between experts from both sides to work out modalities of a joint venture between Dong Feng and Paco.

Dong Feng's representatives in their presentation told the meeting that Dong Feng was one of the biggest automobile manufacturers in China. Trucks, pickups and buses are the main products of the company, they said.

The delegation members further said they wanted to introduce their products in Pakistan according to the market demand.

The minister assured full cooperation and support to the Chinese delegation and said every effort would be made to make this joint venture a success once all the formalities and modalities are agreed and settled.

It has been present government's policy to encourage and facilitate investment, he added.