Islamabad, August 15, 2011. President Asif Ali Zardari Monday urged for further enhancing bilateral trade and investment cooperation between Pakistan and china in various fields. There exist tremendous potential of cooperation and joint ventures between the two countries in a variety of fields.

 

The President said this in his meeting with a Chinese delegation at Aiwan-e-Sadr today.  The delegation comprised of Sou Lang Duo Ji, a prominent Chinese businessman and the founder of the Hong Kong listed company, China Lumena New Materials Corp, Mr. Nasir Ali Shah Bokhari, KASB Bank Executive Vice-President, Mr. Arif Ali Shah Bokhari, , Mr. Tang Meng Sheng and Hunaid Lakhani.

 

From Pak side, Dr. Abdul Hafeez Sheikh, Federal Minister for Finance, Revenue & Economic Affairs, Mr. M. Salman Faruqui, Secretary General to the President, Spokesperson to the President Mr. Farhatullah Babar and other senior officials were also present in the meeting.

 

Briefing the media, Spokesperson to the President Mr. Farhatullah Babar said that the China Lumena Company with its capital over US $ 4 billion is one of the largest producers of special industrial chemicals.

 

Sou Lang Duo Ji, who is also the owner of Laos Construction Bank, briefed the President about the various projects being undertaken by his company and the investment made in Pakistan in energy, mining and banking and finance sector in Pakistan.

 

Sou Lang Duo Ji apprised that an investment of $40 million has already been made in KASB Finance, a holding company of KASB Bank and promised more investment in various sectors of the economy.

 

He also briefed the meeting about his existing engagement in Pakistan including a new 164 MW power project investment of Grange power in Punjab, iron Ore Mining and beneficiation for 100,000tons per month.

 

The spokesperson said that the President appreciated the company’s interest in  setting up of a new industrial zone in Zulfikarabad and said that it would further boost investors’ confidence for investment in Pakistan besides generating employment for the people of the area.

 

The President during the meeting said that Pakistan highly values Chinese assistance to the country in overcoming economic difficulties and development. He said that Pak-China friendship has now been transformed into a mutually beneficial economic equation which would not only jack up bilateral cooperation between the two countries but would also help to take advantage of economic expertise and tremendous progress made by China. 

 

He said that the Government was committed to provide all possible assistance and facilitation to the Chinese companies involved with various projects in the country.

 

The delegation thanked the President for meeting and facilitation to the Chinese investors involved in various projects in Pakistan.