Punjab and Chinese province Shandong have signed six agreements to promote trade through enhanced mutual visits of their businessmen and a combined working group to increase cooperation in different sectors including energy, industrial parks, textile, infrastructure and water treatment. Apart from six agreements, Punjab Chief Minister Shahbaz Sharif and Shandong Vice Governor Xia Geng signed one MoU during a ceremony arranged by the Punjab Board of Investment and Trade on Thursday to set up various special economic zones in all over Punjab.
Chinese Consul General Yu Boren was also present. Shandong Yongtai Paper Mill and Roshan Packages (Pvt) Ltd signed one memorandum of understanding to set up a paper mill in Punjab while another MoU was signed between Jinan Sinox International Co Ltd and the Reshma Power Generation (Pvt) Ltd to provide heavy fuel oil treatment and emulsification technology services for better environment.
Jin Fang Cotton Technology will set up a feeding and slaughtering processing centre in Punjab and the Qingdao Hengxing University will hold exchange students programmes. Shandong Provincial Enterprises also signed a memorandum of understanding with Foreign Investment and WOW Solutions (Pvt) Ltd to set up investment promotion service cooperation.
The chief minister said in his address, "While our bilateral relations at government to government level have been exemplary, it is high time that we create conditions for our businessmen, entrepreneurs and investors to increase their level of engagement." He also praised the cooperation Shandong had already extended to Punjab in the energy sector, particularly in setting up a 1,320MW coal-based power plant in Sahiwal and the commitment shown by the Chinese leadership to see Pakistan a developed and progressing state.
He then urged Pakistani businessmen to take advantage of the opportunity to trade with their Shandong counterparts. He claimed Shandong was the third largest contributor to the Chinese economy with an export ratio of $240 billion per annum.
Vice Governor Geng said on the occasion, "Pakistan-China relationship has exceeded beyond economic ties. We have deep rooted cultural ties and with this ongoing interaction our friendship is deepening with the passage of time." PBIT Chairman Abdul Basit said, "Pakistan deeply values its close historical and fraternal relations and strategic partnership with China. Both countries can take legitimate pride in their enduring ties based on a host of shared economic and strategic interests."
PBIT Chief Executive Officer Amena Cheema said that the agreements signed during the Punjab-Shandong Business forum will further strengthen the economic ties between China and Pakistan. PBIT will take a lead in arranging meetings of the delegation for the forthcoming visit of the chief minister to Shandong with the relevant Chinese businesses, she mentioned.