BEIJING, Dec 26: Pakistan will expand its commercial network in China to explore new avenues of cooperation for enhancing trade relations between the two countries, said Finance Minister Shaukat Aziz.
In an interview with APP during his stay in China, he said since the leadership of the two countries have decided to build up a comprehensive economic partnership, it has become imperative to appoint commercial officers in major cities of China to facilitate the businessmen.
He said President Pervez Musharraf, during his visit to China, held very productive talks with the Chinese counterpart to open a new chapter of their economic collaboration, after having successful and exemplary political and strategic relations during the last five decades.
He said the government will set up necessary infrastructure to facilitate the businessmen to have access in the Chinese market. Two commercial offices would immediately be set up in Shanghai and Guangzhou, the two major business centres. These offices would be supervised by Zafar Mahmood, Commercial Counsellor of Pakistan Mission in Beijing.
Shaukat Aziz said the government will provide certain incentives for Chinese businessmen inviting them to invest in Pakistan. He said “We have decided to give a designated area for Chinese investors in an exclusive economic zone for establishing projects in joint ventures with 100 per cent equity”.
“We will also set up an industrial park for the development of silk processing industry and allocate an exclusive area in the export processing zone in Karachi to help Chinese investors set up industries exclusively for exports.”
The minister said the government will offer them a ‘one-shop’ service through the Board of Investment to facilitate their work. He said he was confident that their Chinese friends will benefit from the offer and participate in our socio-economic development efforts.
He said Pakistan offered liberal investment opportunities to foreign investors having a fairly well-developed infrastructure, a lot of raw materials, low-cost skilled labour, and a large market backed by sufficient purchasing power.
The investors were allowed full repatriation of their money, dividends and other capital gains, he added.
Shaukat underlined the need of adopting ‘Look East’ policy taking advantage of the rapid economic achievements of countries like China. He hoped that Pakistani businessmen would meet the new challenges, emerging after China’s entry into WTO. The government, he added was following the policy of de-regulations so that the private sector come forward to explore new markets the world over.
He said the investment conference on Sino-Pak Trade relations held at Guangzhou proved very successful to promote interaction among the businessmen of the two countries. He said he believes the two countries are much behind promoting their relations in economic sector, and these are not in conformity with their political and strategic partnership.
President Musharraf’s visit to China, he said was also aimed at shifting the focus of their relations on economic sides. The visit, he hoped would go a long to achieve the desired results.
He appreciated the efforts of Pakistan Ambassador to China Riaz H. Khokhar for making the President’s successful, enabling the country to enter into several new agreements with the Chinese companies.—APP