Hu Jintao visits Pakistan at very important time

BEIJING—Chinese President Hu Jintao is visiting Pakistan at a very important time as our comprehensive cooperation and bilateral relations are now being elevated to new heights.
Ambassador Salman Bashir said this while giving here separate interviews to prominent Chinese print and electronic media on upcoming visit of Chinese President to Pakistan beginning from November 23. “Chinese President Hu Jintao’s visit to Pakistan carries great significance for Sino-Pak friendship and partnership, as it forms an essential part of the ongoing close contacts between the leadership of the two countries”, he said. He said that President Hu’s visit would be another big landmark in the Pakistan-China friendship and partnership.
“We are very pleased that Pakistan and China have finalised discussions and reached agreement on establishing Free Trade Agreement (FTA), which covers both trade in goods and investments”, Ambassador said. Pakistan, he said attaches great importance to the FTA with China and it is a moment of great delight for us as we are among the first few countries that China has signed FTA and that too in a very short time.
He said this exhibits remarkable trust and confidence that the two countries have in each other. Ambassador Salman Bashir said that both Pakistan and China are setting ambitious trade target under which within next 4 to 5 years we would be able to quadruple bilateral trade from present about US $4 billion to over US $15 billion. Pakistan, he said, of course, attaches great importance with China across the board in terms of investments and trade and added the he must say that our objective is to achieve closer economic integration.
He pointed out that so far emphasis was on the public sector and the Chinese state-owned corporations and companies were undertaking many important projects in Pakistan, but we are pleased that now private sector from China is showing keen interest in entering into partnership with private sector in Pakistan. He assured that all facilities would be provided to Chinese private sector for investment in Pakistan in all areas. Ambassador Salman Bashir pointed out that when President Pervez Musharraf visited Beijing in February this year, among others, two very important framework agreements were signed. One related to Deepening and Expanding Economic and Trade Cooperation and the other was on Energy Cooperation.
These two documents provide framework for promoting greater cooperation in all sectors, i.e. agriculture, industry, manufacturing, energy, minerals and mining, infrastructure, and Information Technology. There is very good development taking place across the board between the two countries, he said. He said that we are now heading towards project cooperation. Of course project cooperation was there in the public sector but now also engaging private sector in it.
Briefing some of the important projects, Ambassador Bashir pointed out that we have Saindak Gold/Copper project that is being expanded. We have project cooperation in the minerals sector, i.e. Lead and Zinc Project, which is being developed with Chinese cooperation. We also have cooperation in the energy sector, i.e. in the Upstream Sector, i.e. prospecting for oil and gas. Besides, these, he said there are some mega projects and added that Hydro-Power Projects have already been established by joint collaboration.
He said that we have the most important Gwadar Port, which has now been completed, we have the Karakoram Highway “Friendship Highway” between the two countries, which at present being upgraded. There are number of Chinese companies that have shown interest in areas such as Special Industrial Zones, Hi-Tech Parks and Special Economic Zones, in the real estate, urban infrastructure development and in the construction of airports. Ambassador Salman Bashir said that in his opinion, China is pursuing very enlightened policy in all domains, including energy and we completely endorse these.—APP