August 02, 2007	Thursday	Rajab 17, 1428

ISLAMABAD, Aug 1: Prime Minister Shaukat Aziz has said that the signing of free trade agreement, cooperation agreement and establishment of Pak-China Joint Investment Company will further boost bilateral trade and enhance economic cooperation between the two countries.

The prime minister stated this while talking to President of Metallurgical Construction Corporation (MCC) Hou BaoXu who called on him here on Wednesday. The Chinese company is partner of Ruba Group investing in consumer products industry in Pakistan.

According to an official announcement the prime minister said that as a result of the investor-friendly and growth-oriented policies of the government, the country had emerged as a destination of choice for foreign investors.

The unique demographics of Pakistan with its 100 million population below the age of 25 has led to the emergence of a middle class that has become the backbone of Pakistan's economy presenting a huge market for investment in all sectors including housing and construction, the prime minister observed.

He said the economy was open for investment in all sectors including construction, exploration, mining, industry, services and other sectors. He also mentioned about the benefits of the Joint Industrial Zones, which was announced during the recent visit of Chinese President Hu Jintao to Pakistan.

He appreciated the fact that the MCC with a capital of about $20 billion had made its first and biggest overseas investment by joining the Pakistani market.

He said that he was pleased to learn that a number of major Chinese companies were investing in Pakistan and assured them of every possible support and help in facilitating their operations. Mr Hou BaoXu appreciated the forward looking economic policies of the government and said that consistency and continuity of these policies had established investors’ confidence and more companies were exploring investment opportunities in Pakistan.

He said that this was the reason that the MCC embarked upon its first biggest overseas investment in Pakistan. He expressed confidence that this investment would lead to further economic collaborations.