President Asif Ali Zardari has said Pakistan offers ideal investment climate for foreign investors and invited businessmen and entrepreneurs to set up businesses in the country. Speaking at a forum Pakistan-Guangdong Trade and Investment Opportunities: Current Co-operation and Future Prospects, the President said.
"This province of China is the hub of economic activities and the businessmen here will have access to huge market once they come to Pakistan." He said Pakistan offered 100 percent equity share and their investments were protected by a law passed by the parliament. The President said Guangdong's economy was comparable to some of the most developed economies of the world and the province was an industrial giant.
He said despite the international financial crisis, Pakistan had done well economically in the previous year, despite expenditures on security, relief and reconstruction. Pakistan's agriculture, he added, had done well year on year, but with the co-operation from China it would develop even further in future.
The President said it was heartening to note that Sino-Pak relations had a long history of co-operation, spanning four generations, but added, they were yet to be exploited to full potential. "Leadership of both the countries will now have to transform these relations into tangible economic ties. We will have to take them to another level," he added.
President Zardari reiterated his offer to China to take full advantage of Pakistan's geo-strategic location and access warm waters for trade with new world markets in the Middle East and Arab countries for its products. "We have been friends for years and intend to be friends for many more years to come."
Pakistan's Ambassador to China Masood Khan, on the occasion, said, "Around 50 percent of Pakistani exports come to Guangdong, which, given the potential is very modest." He said the volume of trade and investment needed to be diversified to redress the situation. Vice Governor of Guangdong noted that Pakistan was one of the first countries to recognise China 60 years ago and since then their relations had seen a steady growth.
The representatives from various business houses in Guangdong in their presentations stressed the need for increase in economic ties between Guangdong and Pakistan. Later, Pakistan's Board of Investment (BoI) and sub council of China Council for Promotion of International Trade signed a Memorandum of Understanding. President Asif Ali Zardari was also present at the signing ceremony.
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