Zardari invites Chinese businessmen to invest in Pakistan

President proposes currency swap between Pakistan and China similar to one with Turkey.

KARACHI: A Chinese delegation led by Member of Central Committee of Communist Party of China (CPC) Lu Hao called on President Asif Ali Zardari at Bilawal House in Karachi on Tuesday and discussed Pakistan-China bilateral relations and a wide range of matters including mutual cooperation in economic and financial sectors along with the regional situation were also discussed during the meeting.

Zardari appreciated China's support for Pakistan's sovereignty and territorial integrity, underscoring the importance of time-tested strategic partnership between the two countries. He said it was encouraging to note that the traditionally strong Pakistan-China friendship was being translated into economic terms for mutual benefit of the two countries.

The President said Pakistan attaches great importance to enhancing economic and trade links with China. He said that cooperation in numerous areas such as energy, mining, infrastructure, information technology, telecom, agriculture, irrigation, railway, communication, finance and banking provided excellent opportunities for the people of two countries to take advantage and further promote mutual collaboration.

The President called for the need for a currency swap agreement between the two countries as it would provide impetus to the existing level of mutual trade by facilitating business community. Zardari provided an example from the recently signed Currency Swap agreement with Turkey.

(Read: Facilitation: Pakistan, Turkey sign $1b currency swap accord)

He said Chinese investors and businessmen were welcome to undertake business ventures in Pakistan and take benefit of business friendly policies and incentives offered by Pakistan government. Seeking more investments by Chinese companies in Pakistan, the President stressed upon the need for making efforts to realise the full potential of bilateral trade.

Zardari said that China was like a second home to him and he was keen to learn from the Chinese experience of development and progress. The President thanked the Chinese government for inviting a new generation of Pakistanis to visit China and witness the unprecedented progress made by the Asian giant.

Hao congratulated the President on Pakistan's election to the United Nations Security Council's non-permanent seat and said that it demonstrated Pakistan’s recognition by the world community for the constructive role that it has played in the promotion of international peace.

The President thanked the Chinese government for supporting Pakistan for the UN Security Council's non-permanent seat.

Discussing recent developments and war against militants, Hao appreciated Pakistan's countless sacrifices in making this world safer. He said that China greatly values scarifies made by Pakistani people in the war against terror.

President said China is a factor of peace development, stability, and Pakistan condemns any attempt to undermine sovereignty and integrity of China.

Hao was accompanied by Jia Tingquan, Deputy Secretary General CPC Committee of Gansu Province, Wang Yongqian, Director General Foreign Affairs, Ji Ping, Wang Huanxiang, Du Dingding and Zhao Xu. Senator Jahangir Badar, Senator Mian Raza Rabbani, Pir Mazhar Ul Haq, Raja Pervez Ashraf, Taj Haider, Malid Asif Hayat and Dr Asad Majid Khan were also present in the meeting from Pakistan side.