AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, September 07, 2012 (PPI-OT): The relationship between Pakistan and China is a geopolitical keystone for both countries and the solidarity between them is unmatched by any relationship between two sovereign states, said Ambassador Masood Khan. Says a press release received here today from Beijing.
The Ambassador said this while delivering his keynote address at a roundtable on Accelerating Sino-Pakistan Economic Partnership.
The Ambassador congratulated Wang Meng Kui and Khalid Malik on this initiative and thanked them for organizing this event.
Ambassador Khan said the strategic partnership between the two countries is the bedrock of all other partnerships.
He said economic relations between the two countries are growing fast. “We have a good architecture for economic and trade cooperation. A Joint Economic Commission (JEC) oversees progress in the implementation of the projects under Five Year Development Programme (FYDP) for Economic and Trade Cooperation.
The first cycle of the programme was concluded last year and we have launched the second five year programme which will end in 2016. Under this plan, 36 projects valued at US $ 14 billion, and covering energy, transport, ICT, industrial, agricultural, health care and education sectors have been identified. The Economic Cooperation Group (ECG) monitors implementation at the working level,” he said.
He said Pakistan and China have signed Free Trade Agreements (FTAs) on goods, services and investment. The bilateral trade is increasing. Since 2008, the total volume of trade has grown by 70%; whereas Pakistani exports increased two-fold from US $ 1 billion to US $ 2.2 billion during the same period.
The Ambassador said strong private Chinese enterprises are entering into Pakistani market to invest in the energy sector and infrastructure development.
He said Pakistani businesses are also looking increasingly towards China. “A healthy appetite in Pakistani educational and professional institutions to learn the Chinese language and to understand Chinese culture reinforces this trend,” he said.
He said Pakistani entrepreneurs and enterprises need to understand how Chinese state and non-state enterprises work. Chinese corporate sector has unique characteristics, which have to be studied, comprehended and assimilated.
The Ambassador said the total volume of Pakistani exports last year was US $25 billion, out of which 2.2 billion came to China, adding that the Chinese market would surely absorb more Pakistani products if Pakistan has more goods and services to export.
He said the Chinese government will send official purchase missions to Pakistan to enhance our exports, while Pakistani traders are attending China’s trade and investment expos and fairs in larger numbers.
The Ambassador said: “China is big. It is getting bigger by the day. To accelerate Pakistan-China economic partnership, Pakistan has to think big, with its feet still on the ground. We in Pakistan need to develop competencies and adopt efficient implementation strategies. As we do that, China – our brother and partner – may step forward to help us develop these competencies. Only then we will have a fuller interface between the two economies.”
Wang Meng Kui, Chairman, China Development Research Foundation said the Sino-Pakistan Economic Partnership roundtable aims at achieving tangible benefits for the economic development of both the countries and to further strengthen their bilateral ties.
He welcomed the presence of many leading Pakistani businesses at the roundtable and regarded it an excellent opportunity for them to discuss concrete steps for enhancing cooperation.
Spread over five sessions the roundtable focused on current status, issues and future potential of Pakistan-China trade and economic cooperation, gathering recommendations on accelerating mutual economic cooperation, looking into the feasibility of establishing a Pak-China Investment Fund, Cooperation in the fields of Energy, Mining, Infrastructure, Manufacturing, Telecom and Finance.
The Pakistani side comprised representatives of UNDP, NUST, National Bank of Pakistan, Descon, Shakargang Mills, Fauji Foundation, KASB Group, Indus Motor Company, Bank Al-Falah, Atlas Honda, Barclays Bank, Sapphire Textile Mills, Cherat Cement, JS Group, and Fauji Foundation.
The Chinese side also comprised more than 20 leading Chinese companies and entrepreneurs including China International Capital Corporation, China Three Gorges Corporation, China Guodian Corporation, Export-Import Bank of China, China Shipping Company, China Construction Bank, China Aerospace Science and Technology Corporation, China Datang Corporation, Chinatex Corporation, Huaxin Cement, China Great Wall Industry Corporation, China Development Bank, China Electric Power International Trade Co. China National Offshore Oil Corporation, United Energy Group, China Water and Electric International Investment Corporation, ICBC, China Mobile Communications Corporation, Hanergy Holding Group.
Representatives of Chinese Ministry of Commerce, China World Peace Foundation and Chinese Peoples Association for Friendship with Foreign countries were also present on the occasion.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com