Pakistan-China trade volume to reach $15bn: PM Gilani
Prime Minister Syed Yusuf Raza Gilani on Thursday highlighted the importance of closer Pak-China economic integration and aimed at increasing the bilateral trade volume up to 15 billion dollars.
"The idea is not only to develop mutually-beneficial bilateral economic cooperation but also to jointly promote intra-regional and trans-regional development partnerships", Gilani told the corporate leaders and CEOs of the large business and industrial houses in China while speaking at the China-Pakistan Entrepreneurs Forum here.
He termed Pakistan-China Free Trade Agreement as a comprehensive arrangement that covered goods, services and investments.
The Prime Minister, who is in China on a four-day official visit during which he also held talks with Premier Wen Jiabao Wednesday, welcomed the establishment of China-Pakistan Entrepreneurs Forum and said this will further strengthen and facilitate exchanges between both countries business communities.
The Prime Minister said Pakistan and China are good friends and close neighbours, adding, "our all-weather friendship is deeply imprinted on the hearts and minds of our people."
Gilani said Pakistan-China friendship continues to strengthen with every passing day, adding, "Our partnership has assumed a regional and international dimension. We consult, cooperate and coordinate our respective endeavours for the cause of global peace and prosperity."
The Prime Minister said Pakistan takes inspiration from China's economic transformation that is unparalleled in human history. It has been brought about by the genius and hard work of the talented Chinese people under their wise and sagacious leadership, he added.
Gilani recalled and termed Premier Wen Jiabao's visit to Pakistan in December last as another landmark in the long and glorious history of Pakistan-China friendship during which the two sides took important decisions and set out a shared economic and trade agenda.
"It was agreed that corporate sector must play a leading role and the two governments must provide a facilitative framework for the flourishing of a mutually - beneficial economic partnership", he added.
Gilani said the establishment of Pakistan-China Trans-border Economic Zone; upgrading avenues for trade, overland across shared mountains and rivers; steps being taken towards integrated border management; and other related measures, including customs harmonization would enable both Pakistan and China to bring to play and optimally utilize the natural economic complementarities of the two countries.
In the domain of finance and banking, he mentioned the establishment of Pakistan-China Investment Company.
The Industrial and Commercial Bank of China is beginning its operations in Pakistan and has opened branches in Islamabad and Karachi, he said and added the Central Banks of Pakistan and China are now discussing concepts such as the Currency Swap Arrangement.
"This and other related measures will not only facilitate economic interaction but also provide the requisite incentives for the corporate leaders to enter into mutually-beneficial joint ventures", he added.
Prime Minister Gilani said as China diversifies its economy, with special emphasis on the development of its Western regions as well as shifts to high technology, the economic factors would make it attractive for the Chinese industry to relocate and establish their manufacturing base in Pakistan.
He said Pakistan is a developing country and its strategic priority is development, adding, Pakistan is developing its infrastructure that includes not only upgrading our rail and road links but also building new cities, airports and expressways.
Gilani said hundreds of Chinese corporations and thousands of Chinese friends are already working in Pakistan, adding, "We highly appreciate their endeavours and hard work that is contributing immensely to Pakistan's economic development."
The Prime Minister said there is great potential for the participation of Chinese corporations in the development of the energy sector in Pakistan, which includes hydel, thermal and renewable.
Gilani said Pakistan and China have renewed the joint Five Year Economic and Trade Programme, adding, projects, which are commercially feasible, would qualify for easy credits and such facilitation, as may be required, by both governments.
Two agreements and one Memorandum of Understanding (MoU) for the promotion of trade and economic cooperation between the private sectors of Pakistan and China were also signed on the occasion. Prime Minister Gilani witnessed the signing of agreement.
Source:thenation
China vows to stand behind cornered Pakistan
(source:Novintine.com) Chinese premier Wen Jiabao on Wednesday reassured Pakistan of his country's continued to support and offered financial help and business deals. Beijing's reassurance has come as a major boost for Islamabad that has felt increasingly isolated after the US raid to take out Osama bin Laden in Pakistan's northwestern town of Abbottabad earlier this month.(source:TOI)
America Welcomes President Ayub
(source:flickr)In July 1961, President Mohammad Ayub Khan of Pakistan, accompanied by his daughter Begum Nasir Akhtar Aurangzeb, paid a state visit to the United States. This film, produced by the United States Information Service, recounts the events of President Ayub’s trip. Highlights include a state dinner at Mt. Vernon, a visit to the Islamic Center of Washington, and a ticker tape parade in New York City. President Ayub’s visit also included a trip to San Antonio where he toured and laid a wreath at The Alamo, followed by a barbecue at Vice President Johnson’s ranch in Stonewall, TX.
http://www.texasarchive.org/library/index.php?title=America_Welcomes_President_Ayub
Source:Taxre archive of moving imag)
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