President Asif Ali Zardari who is currently visiting the People’s Republic of China has held a meeting with his Chinese counterpart President Hu Jintao. He called for greater investment in developing Pakistan’s energy infrastructure and proposed the setting up of an energy fund. President Zardari, who is in Beijing to attend the Shanghai Cooperation Organisation summit, availed the opportunity to interact with various world leaders including Afghan President Karzai.
Pakistan and China signed three memorandums of understanding: the Tarbela-Islamabad water supply, the establishment of special economic zone in Zulfikarabad and the building of 6,000 flats in Islamabad. The ceremony was witnessed by President Zardari. An agreement for the desilting of canals and barrages in Sindh was also signed. The President held separate meetings with four leading Chinese business tycoons trying to persuade them to take advantage of investment-friendly policies of Pakistan. China has remained a reliable trading partner and the two sides decided to increase the volume of their two-way trade to $15 billion by 2015. Beijing is the only friendly capital that has all along been willing to supply industrial equipment along with the transfer of technology, Kamra rebuild factory, heavy mechanical complex at Taxila and shipyard are a few examples. Former Premier Shaukat Aziz was right when he advised Pakistan entrepreneurs to follow ‘Look East Policy’ for launching mega projects.