ISLAMABAD – Pakistan and China have signed eight Memorandum ofUnderstandings worth 100 million dollars for mutual investment in Seafood,Agriculture, Steel and Pharmaceutical sectors.
Around fourteen private companies from both sides signed MoUs for mutualinvestment and joint ventures to expedite the trade and business betweenthe two countries.
Addressing on the occasion, Economic and Commercial Counselor of ChinaEmbassy, Wang Zhihua said Pakistan is a friendly country and we believe onpeaceful con-existence and cooperation for shared property.
The Counselor said the China Pakistan Economic Corridor under ‘One belt oneroad’ has given new height to mutual relations and cooperation between bothfriendly countries.
Wang Zhihua said Pakistan and China are negotiating on phase -II of FreeTrade Agreement (FTA) to increase trade and providing free tradeopportunity in their markets.
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He said that Pakistan has huge potential market for international investorsand its strategic location gives more comparative advantages to othertrading partners.
Addressing on the occasion, Additional Secretary ministry of Commerce andTextile, Syed Tariq Huda said Chinese investment in Pakistan give positiveimpact to local market of Pakistan.
He said that ‘One Belt and One Road’ initiative also gives vision forinclusions and welfare all region.
