ISLAMABAD, Sept 7: After the visit of Chinese Prime Minister to Pakistan last year the economic interaction between the two countries and businessmen has increased manifold.

This was stated by Cao Zinyu, vice-chairman of Chinese Chamber of Commerce for import and export of textile and leader of Chinese trade delegation, currently visiting Pakistan, here on Saturday.

“Textile industry is the main area of attention so we would like to explore ways and means to enhance bilateral trade in textile sector,” Zinyu said.

The private sector was playing an important role in economic activities of China and particularly in textile sector they were contributing a lot, he added.

He said that we wanted to further heighten the mutual cooperation and we were looking for further strengthening of existing trade and economic relationship between the two countries.

“We are in the process of expanding economic base to the other countries and in this connection industrial units have been set up in Canada and Nigeria”, he said.

He said his delegation would also discuss prospects of setting up joint ventures in garments and cotton knitwear manufacturing in Pakistan.

Chinese companies, he added are willing to help Pakistan to upgrade its textile machinery.

Secretary Board of Investment (BoI) Shuja Shah while welcoming the delegation said the government is very keen to enhance economic and trade relations with Chinese government and people.

He said Pakistan has initiated an investment friendly policy to encourage foreign investment offering them attractive incentives.

“100 per cent investment is allowed without government authorization in every sector of the economy and free transfer of profit and dividend is also allowed to the investors”, he added.

The delegation comprising 10 members representing six major Chinese trade and investment companies arrived here on Friday.

According to the programme the delegation will visit industrial units at Lahore, Sheikhupura, Faisalabad and Karachi.—APP