ISLAMABAD: Chairman UK-Pakistan Business Council Mian Kashif Ashfaq Monday said that the visit of Prime Minister Imran Khan to China would further strengthen economic cooperation and would provide impetus to flow of uninterrupted Chinese investment in Pakistan.
Commenting on the visit of Prime Minister to China he said Pakistan signed a new agreement with China to kick off the $60 billion second phase of flagship CPEC project which has strategic significance for both countries and delivers tangible benefits to the people.
He said agreement on industrial cooperation is aimed at attracting foreign direct investment, promote industrialisation, development of economic zones, execute projects in private and public sectors.
He said Chinese cooperation with Pakistan has reached economic high points with substantial Chinese investment in Pakistani infrastructure expansion including the deep water port of Gawdar and both countries are also enjoying the ongoing free trade agreement.
He said Prime Minister Imran Khan has invited Chinese companies for investment in Pakistan and take benefits from business friendly policies of PTI-led government.
Mian Kashif Ashfaq, who is also former Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC), said China was the world’s second largest economy after the United States, and it had already pumped billions of dollars in various sectors.
He said scores of Chinese entrepreneurs availing ten years tax holidays have already established their factories and plants in FIEDMC under the policy of substituting industries which will save billions of dollars foreign exchange.
He said China has also consistent record of fully supporting Pakistan in regional issues and both countries have placed considerable importance on maintaining extremely close and cooperative relationship and the high level visits between two countries resulted into a variety of agreements.
He said Imran Khan’s visit would reinforce the all weather strategic partnership between the two countries in addition to advancing the objectives of building closer China-Pakistan bonds of brotherhood with a sense of shared future.