ISLAMABAD, Feb 26: Prime Minister Shaukat Aziz said on Saturday that early conclusion of free trade agreement (FTA) with China will help increase the volume of trade between the two countries.

He was talking to a Chinese delegation led by Assistant Minister for Commerce YiXiaozhlin here on Saturday to discuss matters of mutual interest.

An official announcement said that the premier said that FTA will not only open new avenues for the private sector but also set destinations, which will be a win win situation for both the countries.

Mr Aziz said Pakistan was free economy where any foreigner could operate and run business like local entrepreneur. He said Pakistan would welcome Chinese participation in the privatization process as well as investment in water, infrastructure, and human development, fisheries and energy sectors.

He informed the Chinese minister that industrial Parks are being established in the country and Pakistan would welcome Chinese investors to establish industrial enterprises in these Parks, which would not only cater to domestic requirements but also export goods.

The Chinese minister apprised the prime minister on the progress made in the talks held between him and his Pakistani counterpart on various issues including early harvest FTA (Free Trade Agreement), and exploration of avenues for further economic cooperation between the two countries.

The prime minister said that Chinese products are well known with Pakistani consumers and Pakistan appreciates the professional and efficient work done by Chinese contracting firms.

He also briefed the Chinese minister on various reforms carried out by his government, which he termed as an ongoing process and remarked: "History will tell that these were one of the most meaningful reforms."