Governor China Development Bank calls on Salman
By Asad Cheema

ISLAMABAD—A high-level delegation led by Mr. Lie Kegu, Vice Governor, China Development Bank called on Dr. Salman Shah, Adviser to Prime Minister on Finance, Revenue, Economic Affairs and Statistics here on Thursday.
Welcoming the delegation, the Adviser said that China and Pakistan economic cooperation will greatly contribute to economic development in both countries. He particularly mentioned the development opportunities of infrastructure both urban and rural in Pakistan. He also pointed out that the economic cooperation between the two countries would be based on the partnership between the corporate and private sectors of both countries with the government playing a leading supporting role. He said that Pakistan would welcome Chinese companies to invest in different sectors of Pakistan inline with the 5 year economic and trade agreement. He said that Pakistan has a great potential for growth and development and now it should be our objective to create an environment to fully achieve the potential.
The Vice Governor of China Development Bank appreciated Pakistan’s rapid economic development in the recent years. He said that the China Development Bank would invest in Pakistan especially in building up the economic infrastructure and industrial development. He also said that China would also provide necessary financial support in the sectors of industry, services, agriculture, healthcare and education. He said that the business relationship between the two countries should be further developed and strengthened. The two sides agreed to quickly set up the Joint Investment Company soon after the signing of MOUs tomorrow between the two countries. They emphasized on evolving an efficient working mechanism so that the project should start as early as possible. The two sides agreed that Pakistan and China who have already developed a joint working group would also establish a preparation-working group between the Ministry of Finance and China Development
Bank for long term financing of different projects in the country. This joint working group would workout different details of the projects to be implemented with the help of China Development Bank.
The Adviser said the two countries will sign five-year economic cooperation plan and the joint investment company objective would be to implement part of the economic cooperation plan. He said that the joint investment company would work as a window of the China Development Bank for evaluation of joint ventures between the two countries. He informed the delegation that according to the plan development of the special economic zones and investment in the sectors of telecommunications, infrastructure, industry, agriculture will be expedited. The Adviser assured the Chinese side that a mechanism of financial cooperation between the two countries would be soon established to achieve the targets of long-term cooperation with China.
The Vice Governor of China Development Bank said that economic cooperation between China and Pakistan will go beyond five years. The Adviser thanked the delegation for its interest in investment in Pakistan.