Pakistan, China ties take giant leap forward
Free trade, defence top array of accords
By Asad Cheema

ISLAMABAD—Pakistan and China on Friday signed total of 34 agreements and Memorandum of Understanding (MoU) to boost cooperation in private and public sectors.
As many as 18 agreements of Public sector including the landmark free trade agreement to promote economic, trade and investment relations between the two countries were inked President Pervez Musharraf and the Chinese President Hu Jintao witnessed the signing ceremony at the Awan-e-Sadr in Islamabad on Friday. The 18 agreements and MoUs including Free Trade Agreement, Five Year Development Programme of Trade and Economic Cooperation agreement, MoU for Financial Support for upgradation-rehabilitation of Karakorum Highway, Construction of Schools and Hospitals in the Earthquake-hit areas of Pakistan agreement, establishment of Pakistani consulate in Ching Do agreement, Sino-Pak executive cultural programme agreement and cooperation in technical and economic fields agreement.
Establishment of Pak-China friendship center Islamabad agreement, security and finance agreement, handover over of one phase of Gwadar port agreement, rehabilitation of Karakoram highway agreement, agreement between Heavy Industry Taxila and Northern Industries China, expansion of GSM network agreement, exploration of oil and gas agreement, cooperation in oil sector agreement and cooperation in President Rozgar scheme agreement, Syndic coal agreement, MoU of establishment of Pak-China investment company are include in 18 singed MoU and agreements.
Federal Trade Minister Hamayun Akhtar, Foreign Minister Khurshid Mehmood Kasuri, Advisor to Prime Minister on Finance Dr. Suleman Shah, Federal Port and Shipping Minister Babar Gore, Secretary Finance Tanveer Ali Aga, Secretary Culture Jalil Abbas, Communication Secretary Anwar Malik, Chairman National Highway Authority (NHA) Farukh Javed, Chairman Heavy Industry Taxila Major General Israr Ahmad Ghumman and Secretary Petroleum Ahmad Waqar singed the agreement from Pakistani side. Meanwhile, as many as 16 agreement was also signed to undertake joint ventures in private sector including Hostels, Housing, Industrial Parks, Cement, Fertilizer, Transport and Pesticide sectors
Representatives from leading Chinese and Pakistani companies signed on behalf of their respective companies. These MoUs are in addition to those 18 signed between the government of the two countries. An umbrella MoU between Pakistan and China was also signed under which these projects will be implemented within next five years. The signing of these agreements and MoU’s is a big breakthrough in the private sector investment, which will be followed by more significant investment in future. China has made valuable contribution to Pakistan’s economic development particularly in the development of infrastructure and setting up of basic industries.
China is also helping Pakistan in the development of Gwadar Port. More than 50 Chinese companies are working in Pakistan in Oil and Gas, IT and Telecom, Power Generation, Engineering, Automobiles, Infrastructure and Mining sectors. Major Chinese companies which have signed these MoUs including China International Industry and Commerce Co Ltd (CIIC Group).