More gooooood news.
http://www.atimes.com/atimes/South_Asia/FC17Df01.html
Pakistan, China trade grows by 35% in 2003
KARACHI - Sino-Pakistan bilateral trade witnessed a 35 percent annual growth to reach US$2.5 billion last year, said Chinese Minister of Commerce Bo Xilai. As a result, China will further strengthen economic ties with Pakistan and other neighboring countries in 2004.
The increase in trade with Pakistan, said Bo, was an “encouraging and positive indication in the development of their bilateral ties.” Bo also expressed hope that the two countries would see more progress in economic and trade cooperation in the years to come.
Meanwhile, Pakistani Ambassador Riaz Mohammad Khan said enhancing economic cooperation with China is Pakistan’s “priority”, adding that it is “good for us and good for the region”.
The ambassador said a large number of Chinese enterprises already have set up branches in Pakistan and were doing business in railway, dam construction and other fields.
China and Pakistan could further cooperate in agriculture, mines and water-control projects, he added.
Meanwhile, sources from the Chinese Commerce Ministry said Bo, the newly appointed Commerce Minister, wished to create new initiatives for strengthening Sino-Pakistan economic ties.
“We are looking forward to establishing comprehensive economic partnership in all areas of bilateral interest,” the sources said.
As part of China’s new initiative, the ministry would encourage Chinese companies to generate business activities in Pakistan, the sources said. In order to provide financial support, the Chinese government has approved a credit of $500 million, which would soon be available to Chinese companies for making investments in Pakistan.
The sources said China was willing to arrange the maximum number of economic exchanges and cooperation with neighboring countries under the framework of the World Trade Organization (WTO).
In recent years, Pakistan and China have made good headway in developing their economic relations, but they still have a long way to go in exploiting their diplomatic contacts for the economic benefit of their people, sources said.
(Asia Pulse/PPI)
Yay!!! 