BEIJING, Nov 19: Commerce Minister Abdul Razak Dawood who arrived here on Monday said that Pakistan expects a substantial progress in its economic relations with China during the visit of President Pervez Musharraf to Beijing next month.

Dawood who is on four-day visit to China told APP that “he has come to this country to hold initial negotiation with the Chinese officials, so that the President’s visit could be made more productive for enhancing economic cooperation between the two friendly countries.”

The President is likely to pay a four-day visit to China from December 20 next.

The Minister who is scheduled to meet his Chinese counterpart on Tuesday said that they would examine as how the existing bilateral trade could be enhanced.

Pakistan, he said, wanted to get access to the Chinese market for exporting its textile and leather goods.

He said he would request China to import polyester from Pakistan at competitive rate. Pakistan, at present is producing 400,000 tonnes of polyester and would be able to increase to more than 600,000 tonnes by 2002.

He said if China imports at least 100,000 tonnes of polyester from Pakistan annually it would give a big boost to their textile industry.

Razak Dawood on his arrival here met with Yu Xiaosong, Chairman Chinese Council for Promotion of international trade and Luan Richeng and President China National Textile import and Export Corporation. They, he added, discussed the possibility of strengthening cooperation in the textile industry.

He said since China has now joined WTO, there is a wide-scope for the private sector to enhance their cooperation. He underlined the need of having maximum exchange of visits among the businessmen of the two countries.

He said he would ask Chairman Export Promotion Bureau Tariq Ikram to visit China early next year to explore avenues to further cooperation.

The Pakistani businessmen, he observed, had been more inclined to do business with the west. “This business-trend needs to be changed in order to take benefit of the Chinese revolutionary development,” he added.

China, he noted, would be offering extensive business opportunities to foreigners on the eve of world Olympic which are scheduled to take place in 2008. “We have to prepare ourselves to have an access to the Chinese market by that time,” he added.

The Minister referred to fast Chinese growth in the Economic sector in the recent years and said its export has jumped to dollar 249 billion, while its annual GDP is around one trillion.

Talking to newsmen at the Islamabad International Airport prior to his departure late Sunday night, Abdul Razak Dawood said that he is visiting the country to further enhance and strengthen the economic and investment cooperation between the two countries.

The Minister said that he would ask the Chines friends and investors to come to Pakistan and make investment in different fields.

He said that China after becoming the member of the World Trade Organization (WTO) has become the heart of the organization, and it had opened its door exports from different countries.

He said Pakistan being a close friend of China wanted to benefit from its vast market and he would discuss with them for a big market access to Pakistani exports.

Razak Dawood said that he would urge the Chinese friends to import footwear, sea-food and garments from Pakistan which he said are some of the major exports from Pakistan.

He strongly denied the press reports that he was visiting China for a Free Trade Agreement (FTA). “I am not going to China for a free trade agreement,” he added.

“The only objective of my visit to China is to enhance Pakistan’s trade and investment,” he remarked.

Razak Dawood expressed the hope that this visit would help boost Pakistan’s trade with China.

He said he would also visit Hong Kong where he would hold meetings with different leading importers.—APP