Pakistan and China will soon hold a joint study, exploring ways and means to further expand their economic co-operation, particularly in the sectors, like energy, road construction, urban development, telecommunication and agriculture.
The study will also be aimed in increasing the bilateral trade volume, bringing it in conformity with their excellent diplomatic ties.
The sides have also agreed to set up a joint investment company (JIC) this year, with an initial capital of about $500 million.
A formal decision to this effect was taken during the visit of President's Pervez Musharraf to Beijing last week. This will push forward China's participation in the economic development of Pakistan on a regular and long-term basis. According to the official sources, the two sides will soon discuss and finalise legal and financial framework of the company.
Pakistan has already worked out similar arrangements with other countries for financing development projects. Such as establishment of Saudi-Pak Investment Company, Pak-Kuwait Investment Company, Pak-Libya Investment Company, Pak-Oman Investment Company.
The sources told APP that President Musharraf during the visit held very productive talks with the Chinese leaders and the business executives to expand their economic, technological and investment co-operation. Pakistan is one of China's key markets for contracted projects and the proposed JIC will be in line with the ongoing efforts, consolidating their partnership in the fields of trade and investment.
Comments
Comments are closed.