BEIJING: Pakistan and China Wednesday signed three memorandums of understanding (MoUs) covering supply of water from Tarbela to Islamabad, establishment of Special Economic Zone in the
proposed new city Zulfikarabad in Sindh and the building of 6,000 flats in I-15 sector on private-public partnership basis, and an agreement for the de-silting of canals and barrages in Sindh province.
The MoUs were signed by respective officials from the two sides and witnessed by President Asif Ali Zardari and members of his entourage here.
The agreement on de-silting canals in Sindh was signed by Saleem Mandviwala, Chairman Board of Investment, with the President of China Harbour Engineering Company Limited.
The MoU for the establishment of Zulfikarabad Special Economic Zone was signed by
Managing Director Zulfikarabad Development Authority Lt Gen (R) Iftikhar Hussain Shah and Yang Yong, Chairman of the Sichuan Huantong Holding Investment Limited.
The MoU for water supply to Islamabad from Tarbela was signed by Farkhand Iqbal, Chairman Capital Development Authority, and Zhang Chun, President of China Machinery Engineering Company (CMEC), the former also signed another MoU for building 6000 flats and developing Sector I-15 in Islamabad with another Chinese company CRFG (China Railway First Group).
Spokesperson to the President Senator Farhatullah Babar while giving details of the agreement and MoUs, said that with the signing of the memorandums and agreement today, a fresh impetus has been provided to further strengthening the economic engagement between the two
The President also held separate meetings with the four leading Chinese business executives inviting them to take advantage of the investment friendly policies of the Government and to further extend their business ventures in all the sectors, especially in the areas of energy, oil and gas, mining, engineering goods, electronics, chemicals, infrastructure, telecommunications, IT and agriculture.
Senator Babar said that the President talked about the great investment opportunities present in Pakistan and invited the Chinese business executives to further extend their business ventures in the country assuring them all possible facilitation.
He reminded that the businessmen must take advantage of some very important recent developments between the two countries such as the currency swap agreement, the 2nd five-year trade and economic programme and the opening of Chinese Bank branches in Pakistan.
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