Pakistan to establish special hi-tech zones for Chinese investors: Musharraf

BEIJING, July 12 (APP): President Pervez Musharraf underlined the need for translating the existing Sino-Pak deep-rooted diplomatic bonds of friendship into a strong and vibrant economic partnership.

Pakistan is currently engaged in preparing a comprehensive plan to attract Chinese investment in the country and giving boost to their bilateral trade ties, the President said in an interview published this week by the Shanghai-based World Market Magazine. In its cover-page report, the magazine highlighted the future prospects of Sino-Pak economic cooperation in various sectors.

The President spoke high of reinforcing Sino-Pak commercial interaction, stating, Our economic and trade relations are not commensurate with the excellent political and strategic partnership.

Referring to a Framework Agreement singed during his visit to Beijing February this year, he said it provided a strong-base for enhancing and deepening their economic and trade cooperation. He said Pakistan was actively working on a plan to set up Pak-China industrial and high technology zones in the country for attracting investment and joint ventures from China.

" We are also preparing an incentive package to make these zones a center of win-win cooperative partnership for both the countries, he said. President Musharraf stressed that Pakistan should be destination of choice for Chinese investments because of their great traditional friendship, close geographical proximity, Pakistan's strategic geo-political and geo-economic relevance.

His government, he added will also take steps to actively encourage relocation of Chinese manufacturing units in Pakistan, specially in the textile sector.

To a question, the President hoped the on-going negotiation for Free Trade Agreement between the two countries will be completed by the end of this year. This will be a major step-forward expanding their trade ties, he added.

http://www.app.com.pk/n66.htm