ISLAMABAD, 2 April 2005 — A 26-member high-level Chinese delegation comprising government officials and chief executive officers of big companies led by Hu Deping called on the Minister for Commerce Humayun Akhtar Khan here yesterday.
The meeting was held at the Ministry of Commerce. Deping is vice president and secretary-general of China Society for Promotion of the Guangcai Program, member of the standing committee, The National Peoples’ Congress, vice-chairman, All China Federation of Industry and Commerce. Secretary Commerce Tasneem Noorani also attended the meeting.
Humayun briefed the delegation on the overall trade regime of Pakistan and the ongoing economic liberalization in recent years. He also appraised the delegation of the Pakistan-China Economic Cooperation, which included Preferential Trade Agreement (PTA) between Pakistan and China and said that the Early Harvest Program between the two countries would be signed during the upcoming visit of Chinese prime minister to Pakistan. He said that China would sign a Free Trade Agreement (FTA) with Pakistan, which would be its second FTA with any country after ASEAN.
Humayun said that the economic situation and business prospects in Pakistan (financial and fiscal policies and foreign exchange etc) could prove a great attraction for investors. The minister said that China could use Pakistan as a production base for value addition and then export its goods to rest of the world.
He invited Chinese investment in textile sector, fertilizer, gems and marbles, dairy farming and livestock, fisheries, pharma sector, engineering and pesticides. The minister suggested that the Bilateral Investment Treaty (BIT), which already existed between the two countries, might be reviewed for further broadening trade and economic relations.
