BEIJING, Oct 22: China and Pakistan have held formal talks here to cooperate in improving educational and training facilities for developing a transparent accounting and auditing system.

Pakistan’s side was led by Mujahid Eshai, a senior member of the Institute of Chartered Accountants, while Jianxin Guo, deputy secretary-general of the Chinese Institute of Certified Public Accountants, represented his country.

Mujahid told APP on Tuesday that they had held talks to develop cooperation for learning from each other’s experience in the fields of accountancy and audit.

During the talks, the two sides identified areas of cooperation in promoting education and business interests, both at the public and private levels.

They agreed to consider establishing representative offices in their respective countries for the follow-up actions.

Both the countries will also work out a plan as to how and when the two sides should recognize the educational degrees of each other’s institution.

They will also consider to allow the accountants to practice in each others country.