Agreement on construction of Silk Road inked

ISLAMABAD, NOV 18 (DNA) – Agreement between Shinghai and Pakistan enterprises has inked for the joint construction of maritime Silk Road economic cooperation and Promotion of Common development on Tuesday.

The agreement was signed between Federation of Pakistan Chamber of Commerce and Industries (FPCCI) and Shinghai Chamber of Commerce China.

According to the frame work agreement chambers of both the countries will work together to the principles of goodwill and mutual benefit. Both the parties had agreed to start the maritime Silk Road union and promote further cooperation between shinghai and Pakistan.

Both parties will endeavor to build development platforms, create business opportunities and welcome investment in each other country. They will also carry out regional cooperation, negotiation and development in trade co operation and small and medium sized enterprises.

Both chambers will also initiate new growth points and exchange visits at irregular intervals. They will also assist the promotion of trade facilitation for both enterprises.

According to the agreement, they will provide suggestions on the policies concerning trade, technology, project co operation, logistics, transportation and customs. They will also pay more attention to e-business, supply chain and trade in services.

Mr. Gai Guoping, Vice Chairman, Shanghi Municipal Commission of Commerce China, said that Pakistan and China are neighbors and good friends. Shinghai and Pakistan can develop an economic co operation. Shanghai local government encourages promoting business with Pakistan.

He said that they want to invest in textile industry, chemical, building materials, power plants, and heavy duty machinery. He also desired to promote communication with important ports in Pakistan. He suggested to improve economic relations between China and FPCCI and to supply information about energy development projects in Pakistan.

Speaking at the ceremony, Munawar Mughal, Vice President FPCCI, said that china is a time tested friend of Pakistan. Pakistan encourages Chinese investment. Chinese investors are already investing $42 billion in the national projects of Pakistan.

He said that china is a strategic partner of Pakistan. Both countries have a historic relationship in the region, which is said to be sweeter than honey and higher than mountains. Prime Minister Nawaz Sharif in his recent visit to china has signed 19 flagship projects with the Chinese investors, both the country further want to enhance their economic co operation in the field of energy, infra structure, mining and ports and shipping.

He appreciated the idea of one-belt, one-road; such kind of projects will increase mutual co operation between both the countries. He accepted the invitation of visiting shinghai chamber of commerce and also invited Chinese delegation to bring business delegation to Pakistan.

Ms. Naima Ansari, Vice President FPCCI. Malik Sohail Hussain, Chairman diplomatic Affairs FPCCI. Mr. Zafar Bakhtawari, former President, Islamabad Chamber of Commerce & Industry. DNA

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