Chinese companies, institutions keen to invest in Pakistan

BEIJING (APP) - Heads and Chief Executives of major financial, industrial and investment institutions of China Wednesday called on President Asif Ali Zardari here at the State Guest House and showed keen interest for further investment in diverse fields in Pakistan. Those who called on the President representing important Chinese institutions included China International Capital Corporation (CICC), Export and Import Bank of China (EXIM Bank), SINOMA Group (Tianjin Cement and CMBC), MCC (Steel Construction Company), All China Federation of Industry and Commerce (ACFIC) and Industrial Commercial Bank of China (ICBC). During the interaction with the President, the heads of Chinese institutions discussed the present level of Pak-China cooperation in different sectors which is reflective of deep-rooted bilateral relations between the two countries. They evinced keen interest and willingness in enhancing the existing level of cooperation in important sectors of the economy including infrastructure, banking and financial sector, agriculture, cement, steel and industry. Talking to the Pakistani media the Chairman CICC, Levin Zhu described his interaction with the President very fruitful. He said Pak-China ties are of immense import for the mutual advantages in different economic fields. He expressed confidence that existing cooperation will not only continue but will also grow in future. President Export Important Bank (EXIM Bank), Li Ruogu after call on President Zardari told media persons that they had fruitful, frank and pragmatic meeting. He said EXIM Bank already has an investment of over $ 2 billion in Pakistan and was willing to work for further strengthening trade and economic cooperation between the two countries. Li Ruogu said he discussed with President Zardari the prospects of investment in various fields, particularly for the development of agriculture sector and help Pakistan to attain self-sufficiency in food. Chairman SINOMA Group, Tan Zhongming during his meeting with the President discussed the prospects of expanding the business of their company in Pakisan. He told newsmen that SINOMA Group will provide machinery and equipment to cater to the growing needs of cement in Pakistan . President MCC, Shen Heting after the call on President Zardari said they exchanged views on the prospects of further strengthening the steel sector in Pakistan. Vice Chairman ACFIC, Sun Anmin and Senior Executive Vice President ICBC also called on the President and discussed the possibilities and potential of trade and economic cooperation in various fields. Meanwhile, Pakistan and China have signed a framework agreement to jointly establish National Electronics Complex of Pakistan (NECOP). The total amount of the contract, which was signed by Pakistan Ambassador to China Masood Khan and President of CETC Yan Lijin, is estimated at around US $ 300 million, covering civilian, information technology and defense electronic domains in Pakistan. Through the establishment of NECOP, CETC will help Pakistan achieve indigenous research and development and production capabilities after providing sophisticated training and technical assistance packages by fully utilizing local resources. The signing of this framework agreement reflected good wishes for bilateral cooperation, strengthening the traditional friendship and also presenting a Science and Technology oriented government image for the newly elected government of Pakistan. Meanwhile, Governor China Development Bank (CDB), Chen Yuan called on President Asif Ali Zardari here at the state guest house on Wednesday and discussed the prospects of trade and investment in various fields in Pakistan.

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