Pakistani, Chinese finance ministers vow to further strengthe economic ties

Pakistani and Chinese finance ministers reaffirmed their countries’ resolve to further expand and strengthen bilateral economic and trade ties and coordinate closely on policies at financial institutions.Finance Minister Dr Abdul Hafeez Shaikh and his Chinese counterpart Xie Xuren met here on the sidelines of the IMF-World Bank annual meetings.“China and Pakistan have historic and close ties and we discussed progress towards speedy implementation of agreements and MoUs signed during Chinese Premier Wen Jiabao’s visit,” Dr Shaikh told APP after the meeting at the World Bank.

Both the finance ministers discussed economic reforms. The Chinese finance leader lauded Islamabd for undertaking economic reforms. Xuren briefied Dr Shaikh on discussions at the recent G-20 meeting.

Hafeez Shaikh said that Pakistan would welcome Chinese investment in petroleum sector either through new investments or buying stakes in existing enterprises.

Hafeez Shaikh held out Islamabad’s commitment to facilitate Chinese investement in various sectors of the economy and invited Chinese companies to locate their businesses in the country. The two finance leaders also discussed currency swap.

Associated Press Of Pakistan ( Pakistan’s Premier NEWS Agency )

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