Pakistan, China set $ 15 bln bilateral trade target till 2012

Pakistan and China have set a target of bilateral trade for $ 15 billion by 2012 and the private sector will try its utmost to achieve the same.This was stated by Vice President of South Asian Association for Regional Cooperation (SAARC) Chamber of Commerce and Industry (CCI) Pakistan Chapter Iftikhar Ali Malik” while addressing a seminar on Pak-China Economic relation here at Pak-China Friendship Centre on Sunday.Deputy Diretor General of Standing Committee of the People’s Congress of Xinjiang Uygur Autonomous Region Maimaitiming Yasheng,Ambassador of China in Pakistan Liu Jian, Chairman of Pakistan-China Institute Mushahid Hussain Syed, diplomats and distinguished businessmen from China and Pakistan also attended the seminar. He said that the business community of Pakistan was a great admirer of the visionary leadership and hardwork of the people of China,who had turned their country into the second largest economy and the largest exporting nation of the world within one decade. “We foresee a bigger role of China as a world leader on politico-economic horizons,” he said. He said that the present leadership of Pakistan attached great importance to the country’s decades-old time-tested and all-weather friendship with China. “Since assuming the office in September 2008, President Asif Ali Zardari has visited China six times and the visit of Prime Minister of China last December is the reflection of reciprocity, goodwill, mutual recognition and sincerity on which the building of Pak-China relations has been erected,” he remarked. Iftikhar Ali said that the signing of Free Trade Agreement between China and Pakistan and launching strategic 5-year economic plan in 2006 have given momentum to bilateral trade, which increased from $ 3 billion in 2005 to $ 7 billion in 2009-2010. “During the previous visit of Prime Minister of China in December 2011, 36 development projects worth $13.2 billion, relating to industry, water, energy, agriculture, fisheries and communication to boost economic activity in the flood-hit areas of Pakistan were signed,” he said. He said that there was an enormous potential for investment in Pakistan particularly in the fields of finance and banking, power and alternative energy (wind and solar), information technology, engineering goods, textile machinery, agricultural and agro-based industry, food and fruit processing and packaging, livestock and dairy farming. He said,” the business community of Pakistan is not only active in promoting bilateral economic relation with China but under the umbrella of SAARC Chamber of Commerce & Industry, we have constituted China-South Asia Business Forum in Yunnan and Sichuan provinces with our counterparts CCPIT Yunnan and CCPIT Sichuan”. These forums are actively working for integrating South Asian trade with China, he added. “We have taken an initiative to form Pak-china Youth Entrepreneurs Forum, which will soon become functional and will effectively help connect our future generation,” Iftikhar Ali concluded.

Associated Press Of Pakistan ( Pakistan’s Premier NEWS Agency ) – Pakistan, China set $ 15 bln bilateral trade target till 2012

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