Pakistan President to Visit China, a Valued Ally

[Imran Khan]

Chinese companies, institutions keen to invest in Pakistan
BEIJING, Oct 15 (APP): Heads and Chief Executives of major financial, industrial and investment institutions of China Wednesday called on President Asif Ali Zardari here at the State Guest House and showed keen interest for further investment in diverse fields in Pakistan. Those who called on the President representing important Chinese institutions included China International Capital Corporation (CICC), Export and Import Bank of China (EXIM Bank), SINOMA Group (Tianjin Cement and CMBC), MCC (Steel Construction Company), All China Federation of Industry and Commerce (ACFIC) and Industrial Commercial Bank of China (ICBC).
During the meetings, Foreign Minister Makhdoom Shah Mehmood Qureshi, Defence Minister Chaudhry Ahmed Mukhtar, Advisor to Prime Minister on Interior Rehman Malik, Minister for Environment Hameedullah Jan Afridi, foreign Secretary Salman Bashir, Pakistan Ambassador in China Masood Khan and other senior officials were present on the occasion.

During the interaction with the President, the heads of Chinese institutions discussed the present level of Pak-China cooperation in different sectors which is reflective of deep-rooted bilateral relations between the two countries.

They evinced keen interest and willingness in enhancing the existing level of cooperation in important sectors of the economy including infrastructure, banking and financial sector, agriculture, cement, steel and industry.
Talking to the Pakistani media the Chairman CICC, Levin Zhu described his interaction with the President very fruitful. He said Pak-China ties are of immense import for the mutual advantages in different economic fields.

As a financial institution, he said “we can help promote cooperation in the financial sector of Pakistan.

He expressed confidence that existing cooperation will not only continue but will also grow in future.


President Export Important Bank (EXIM Bank), Li Ruogu after call on President Zardari told media persons that they had fruitful, frank and pragmatic meeting.

He said EXIM Bank already has an investment of over $ 2 billion in Pakistan and was willing to work for further strengthening trade and economic cooperation between the two countries.

Li Ruogu said he discussed with President Zardari the prospects of investment in various fields, particularly for the development of agriculture sector and help Pakistan to attain self-sufficiency in food. Chairman SINOMA Group, Tan Zhongming during his meeting with the President discussed the prospects of expanding the business of their company in Pakistan.

He told newsmen that SINOMA Group, which deals in cement industry and already has projects in Pakistan, will provide machinery and equipment to cater to the growing needs of cement in Pakistan . “We can also consider direct investment”, he replied in response to a query. President MCC, Shen Heting after the call on President Zardari said they exchanged views on the prospects of further strengthening the steel sector in Pakistan.

He said their company will collaborate with Pakistani companies in steel and real estate sectors. Vice Chairman ACFIC, Sun Anmin and Senior Executive Vice President ICBC also called on the President and discussed the possibilities and potential of trade and economic cooperation in various fields, with focus on increased business to business contacts between the two countries.

 

[Imran Khan]

President Zardari offers preferential treatment to Chinese investors in Pakistan
BEIJING, Oct 15 (APP): President Asif Ali Zardari on Wednesday offered special preferential treatment to the Chinese investors in Pakistan , urging them to invest in Pakistan and take advantage of the country’s geo-strategic location. “With a well-placed geographical location, Pakistan has to offer you the investor-friendly environment, laws and legislation, human capital and other resources”, the President told a luncheon meeting with over 200 top Chinese corporate executives here at the State Guest House.
President Zardari said his first state visit to China was reflective of the deep-rooted, strong and historic 40 years ties with the two countries, which were pioneered by Shaheed Zulfiqar Ali Bhutto and carried forward by Motarma Benazir Bhutto Shaheed.

Taking pride of the fact that it was the PPP and Shaheed Zulifikar Ali Bhutto who established relations with China “, the President said Pakistan needed further Chinese investment in various fields for the mutual benefit of the two friendly countries.

President Zardari said Pakistan shares the pride and considers China ‘s success in various fields as its own, adding, China by holding successful Olympics told the world how strong it was.

He stressed that Pakistan provides ample opportunities of investment in diverse fields including trade, industry, financial services, banking, energy, construction, real estate, tourism, etc. and the Chinese companies can are welcomed to invest in any field to help develop the country’s untapped potential.

President Zardari said with half of the world population living in China and SAARC countries, the increased Sino-Pak cooperation in all spheres of life and economy can help bring development and prosperity in the region.

“With other countries interested to tap the trade potential of Pakistan , we offer the Chinese companies and entrepreneurs access to warm waters and beyond”, he added.

The President said Pakistan located at the confluence of South Asia, Central Asia and the Middle East and a vast coastline provides a trade and energy corridor to many regional countries and China can take the lead in this respect for the mutual benefit.

Zardari said Pakistan having a lot of investment potential in various fields the development of Pakistan and China can go together. “Let us work together for mutual benefit and development of region”, he added.

The President mentioned hydro power, coal energy, tourism etc. as the particular areas of cooperation between Pakistan and China and called upon the Chinese companies and investors to exploit the potential of these fields.

He said with other countries of the world and region taking keen interest in these areas, Pakistan will prefer Chinese entrepreneurs to come and invest in the country.

The President assured all facilities to Chinese investors and said the government will establish a special cell for the creation of Pak-China industrial and economic zones across the country including the coastal areas.

Pakistan’s Ambassador to China Masood Khan and Vice Chairman Chinese People’s Political Consultative Conference (CPPCC), Huang Meng Fu in their introductory remarks highlighted the strong, deep-rooted, strategic and historic bonds that exist between Pakistan and China.

They also highlighted the ever-growing cooperation between the two friendly countries in diverse fields including trade and economy and stressed for further strengthening these ties for the mutual benefit of Pakistan and China .

The members of President’s entourage including the Ministers for Foreign Affairs, Defense, Environment, Advisors to PM on Finance and Interior, PPP’s Secretary General Jahangir Badar and senior officials were present on the occasion.

Earlier, President Zardari had a pre-lunch meeting with Vice Chairman Chinese People’s Political Consultative Conference (CPPCC), Huang Meng Fu and discussed the prospects of enhanced investment in Pakistan in various fields.

 

[dr.umer]

Pakistan gets help from China for ailing economy ​

By GILLIAN WONG, Associated Press Writer

15 Oct 2008

Pakistan's president Wednesday won more help from longtime ally China as his country grapples with an ailing economy and chronic electricity shortages, though the prospect of a much anticipated civilian nuclear deal remained uncertain.

Pakistani media have speculated that President Asif Ali Zardari would seek a nuclear power deal with China after neighbor and nuclear archrival India secured a similar pact with the United States.

Zardari and Chinese President Hu Jintao attended a signing ceremony here for 11 agreements, including deals on economic and technical cooperation, minerals, environmental protection, satellite purchases, agricultural research, and electricity.

However, no specifics of the deals were released, and there was no mention of a civilian nuclear deal.

Pakistan has argued in vain for equal treatment from Washington after India secured an agreement allowing American businesses to sell nuclear fuel and technology to India for use in civilian programs.

Pakistan is desperately seeking assistance to alleviate an economic crisis brought on by higher oil and food prices.

Increased expenses have pushed inflation to 25 percent, wrecking the government's finances and exacerbating a trade gap that is fast eating up the country's foreign currency reserves.

Rising demand and inadequate energy infrastructure in Pakistan has led to nationwide electricity outages, fueling protests. Residents must contend with up to 10 hours a day of power outages, though officials are trying to maintain supplies to factories.

Compounding the problems, al-Qaida and Taliban militants are using Pakistan's tribal areas as bases from which to attack U.S. and NATO forces in Afghanistan, spurring U.S. frustration with Pakistan. Cross-border U.S. raids have strained ties with Pakistan.

Zardari is on a four-day trip to China, his first official bilateral visit since taking office in September.

Pakistan and China have been close allies for decades, and China is a leading source of investment and arms supplies for Pakistan. Bilateral trade between the two topped $7 billion last year, with a goal of reaching $15 billion by 2011.

Both nations have also fought border wars with rival India.

"The only way I could do justice to the memory of my late wife and my late father-in-law was to make sure that I made my first president's trip to China as my official visit," Zardari told Hu during a welcoming ceremony at the Great Hall of the People.

Zardari's wife, former Prime Minister Benazir Bhutto, who was killed in a bombing last year, and his father-in-law, Prime Minister Zulfikar Ali Bhutto, "are old friends of the Chinese people,"' Hu replied.

The two "made important contributions to the initiation and development of China-Pakistan relations in their lifetime. This is something we will never forget," Hu said before the two leaders went into private meetings.

Experts say a nuclear agreement with Pakistan would need to overcome significant political uncertainties in the South Asian country.

"The political situation is so uncertain, nobody quite knows how strong the radicals are ... I would be surprised if the Chinese made a concrete offer," said Rajesh Basrur, an associate professor at the S. Rajaratnam School of International Studies in Singapore.

Basrur said members of the Nuclear Suppliers Group states would also need to approve the deal. The group restricts nuclear trade with states that have not signed the Nuclear Nonproliferation Treaty or don't have comprehensive safeguards.

Zardari was scheduled to hold talks with other top Chinese leaders, including Premier Wen Jiabao.

Zardari easily won the presidency last month after longtime U.S. ally Pervez Musharraf quit under threat of impeachment.

 

[dr.umer]

China supports Pakistan’s sovereignty, territorial integrity: President Hu ​

BEIJING , Oct 15 (APP): Chinese President Hu Jintao, while condemning the recent terrorist attacks in Pakistan, has reiterated China’s support for Pakistan’s efforts to safeguard its sovereignty and territorial integrity. The Chinese leader made the remarks when he met President Asif Ali Zardari at the Great Hall of the People here on Wednesday.

The two leaders and their delegations had wide-ranging discussions in a warm and friendly atmosphere, characteristic of the long-standing ties between Pakistan and China.

President Hu appreciated the sacrifices being made by Pakistan in its struggle against the global menace of terrorism.

President Zardari reaffirmed Pakistan’s resolve to continue fighting terrorism and extremism.

He said this fight was in Pakistan’s own national interest as the scourge of terrorism threatened Pakistan’s stability and its future as a prosperous and progressive Muslim state.

 

[dr.umer]

Pak, China to jointly establish National Electronics Complex ​

BEIJING, Oct 15 (APP): Pakistan and China on Wednesday signed a framework agreement to jointly establish National Electronics Complex of Pakistan (NECOP). The total amount of the contract, which was signed by Pakistan Ambassador to China Masood Khan and President of CETC Yan Lijin, is estimated at around US $ 300 million, covering civilian, information technology and defense electronic domains in Pakistan.

Through the establishment of NECOP, CETC will help Pakistan achieve indigenous research and development and production capabilities after providing sophisticated training and technical assistance packages by fully utilizing local resources.

The signing of this framework agreement reflected good wishes for bilateral cooperation, strengthening the traditional friendship and also presenting a Science and Technology oriented government image for the newly elected government of Pakistan.

CETC is the largest state-owned Chinese enterprise, specializing in the field of defense electronics, information technology, public security, space, transportation, energy and education.

 

[AgNoStiC MuSliM]

Good to see some specifics on the agreements inked coming out.

I'll be surprised if anything concrete on Nuclear cooperation comes out of this visit, which shouldn't mean that Pakistan should not continue to negotiate and raise the issue every chance it gets.

A nuclear deal right now I believe is too close to the political and security changes in Pakistan. If the government settles down for a couple of years, and some measure of control over the security situation and economy is achieved, the chances of a Nuclear agreement might get a lot brighter.

Quite frankly, given the economic situation right now, Pakistan will have its hands full expanding the Chasma complex of plants, and constructing the fuel processing and fabrication complex (infrastructure) outlined by the GoP, for the next few years.

 

[pkpatriotic]

Zardari visit to China to open new vistas
Wednesday October 15 , 2008

ISLAMABAD: Chairman Senate Standing Committee on Interior Talha Mehmood has said that President Zardari’s visit to China would invigorate economic cooperation between the two countries as well as strengthen the bilateral ties.

He said Pakistan and China enjoys time-tested and all-weather relationship. President Asif Ali Zardari’s visit will add new dimensions in the existing ties.

In a statement issued here on Wednesday Talha expressed hope that the leadership of China while realizing the economic challenges confronting Pakistan will help to over come the existing crisis.

He said in view of increasing change in world as well as the region’s economy the leadership of both countries and people wanted to further strengthen the socio-economic ties.

He said Pakistan should exploit the expertise of China to overcome the prevailing energy crisis and better cooperation in the fields of solar and hydal power production.

Talha said Pakistan appreciates China for investment in different sectors in Pakistan, however, there is dire need to improve the communication system between the two countries especially railway system from Pak-China boarder to Gawadar port so that country’s socio-economic condition could further improve.

 

[Neo]

Need for a new era of strategic ties with China​

PRESIDENT Zardari is visiting China at a time when the global economic power balance is undergoing a historic shift.

“End of US era — now China calls the tune” declares a headline of The Sydney Morning Herald, Australia’s oldest and most respected newspaper. “Can Chinese cash save the world’s banks?” is a lead story in Time. “Is this the end of the American era?” is the title of an op-ed written by noted historian Paul Kennedy in The Sunday Times, UK.

Billionaire investor George Soros has predicted the financial crisis would mean the end of a US-led market system that has dominated the global economy through debt and deregulation since the 1980s. “This is now over. The game is out. It does mean a very serious adjustment for America,” Soros said in a CNN interview.

China should lead rescue efforts for the US financial crisis, Mexican tycoon Carlos Sim, one of the world’s richest men, told the press last week. “China is now the most important country to help responsibly in this crisis,” he said.

“China owns us, lock, stock and barrel, so it’s more important than ever that the US monetary authorities coordinate their monetary policies with China,” Chris Rupkey, New York-based chief financial economist at Bank of Tokyo-Mitsubishi, Japan’s largest, told Bloomberg.

The headlines and report convey a dawning realisation in western capitals that the biggest casualty of the western financial meltdown might be the US dominance of the global financial system, the linchpin of its global power. And that it is China, with over $1.8 trillion in foreign exchange reserves growing at a pace of $40bn a month, which holds the key to the financing of the astronomical budget deficit that the US will have to run to finance the bailout of its financial institutions.

Declining superpower?

The reports of the death of American capitalism may be exaggerated but there is little question that the financial meltdown means the end of its sole superpower status in what was described as a unipolar world. America’s western allies, Britain, France, Germany, and other European countries, have committed over $2tr to rescue the banking system from collapse and will face mounting fiscal deficits to finance them. Meanwhile, in 2009, the GDP of Asia (ex-Japan), on purchasing power parity basis, is likely to reach the level equal to that of the US and Western Europe combined, with China certain to overtake Germany as the world’s third largest economy.

On Jan 20, 2009, either Barack Obama or John McCain will walk into the Oval Office facing the grimmest economic landscape in decades: 7-8 per cent of the nation’s workforce unemployed; millions more families that have lost more than $12tr of wealth in the value of homes and stocks; a global recession; a crippled banking system; ailing state and local governments -- some on the verge of bankruptcy; jittery foreign creditors; budget deficit near the landmark $1tr mark and forecast to cross $2tr in the next 12 months; and $10tr in federal government debt or 72 per cent of its GDP.

This year, net interest on US federal debt is projected at $244bn, about $100bn more than the annual cost of the wars in Iraq and Afghanistan. Even before the meltdown started, it was expected that the US would find an exit strategy from Iraq. Now it looks almost certain that it will have to find an exit strategy from both Iraq and Afghanistan. In any event, the US was not planning to send more troops to Afghanistan till early 2009, with little signs of support from its Nato allies. The US has spent an average of $12.1bn a month on its wars, including $9.8bn in Iraq, $2.3bn for Afghanistan and civilian aid.

The Bush administration has come under heavy criticism for its handling of the economy this year and spending over one trillion dollars on the ‘war on terror’ in Iraq and Afghanistan since 2001. It is not a coincidence that it recently decided to review its entire strategy in Afghanistan and gave a nod to the Saudis to conduct secret negotiations with the Taliban with the objective of finding a way out of the quagmire. “During the talks, all parties agreed that the only solution to Afghanistan’s conflict is through dialogue, not fighting,” CNN reported on Oct 5. The so-called war on terror will be the biggest casualty of the budget cuts that a financially crippled US government would have to make, but the axe is also likely to fall on foreign aid. The US government’s foreign aid budget is $20.3bn in 2008. Joe Biden, Democratic vice-presidential candidate, said on Oct 2 that the $700bn bailout might force Barack Obama to reassess his promise to double foreign aid if elected president. “The one thing we might have to slow down is a commitment we made to double foreign assistance. We’ll probably have to slow that down,” Biden said during a debate with his Republican vice-presidential rival Sarah Palin.

Reorienting Pakistan

The escalation in the US military campaign on Pakistan’s northern borders can be viewed in the context of its economic crisis. It shows all the signs of desperation. It cannot help Pakistan, yet it wants to ‘win’ the war in Afghanistan. On the one hand, it appears to be using the multilateral lenders to pressure Pakistan to ‘do more’; on the other hand, it is conducting psychological warfare through drone attacks and covert operations inside Pakistan’s borders.

The good news for Pakistan is that the US has run out of money to continue its quest for military hegemony in the Middle East and Central Asia. Given its financial meltdown and astronomical debt levels, the US has no option but to forget about its ambitions to be the dominant military power in the region, seek a truce with the Taliban, pursue diplomacy to resolve conflicts with Iran, and, equally importantly, recognise China’s strategic interests in the region.

After all, China is the largest creditor of the US with nearly $1tr in the holdings of treasury bills and government-guaranteed debt and the US cannot finance its gargantuan deficits and service its $10tr debt without a steady flow of funds from China. True, China has a stake in the financial stability of the US but the extraordinary turn of events has given it a leverage that was unthinkable only a year ago. “If the world economy darkens further, China will emerge as the likeliest saviour,” concluded the Economist in a recent issue.

Pakistan enjoys historically close relations with China and the financial meltdown provides it with a rare opportunity to reduce its dependence on western aid, possibly disengage from playing the ‘new Great Game’ on behalf of the West, and make a bold and decisive shift in its foreign policy that is driven by its own long-term economic and strategic interests.

Pakistan may wish to look beyond the immediate need for financing its external deficit that has bled its foreign exchange reserves. China has a long-term strategic interest in a strong, stable and economically independent Pakistan. It is the only major power that has both the will and the capacity to exploit Pakistan’s natural resources and help build its infrastructure that is in dire need of huge investment. In contrast to the US, China sees itself, and not India, as the leader of the future Asian century and has a natural interest in a Pakistan which is more than a client state of the West.

But Pakistan may need to do more than just ask for help and talk about the history of the Pakistan-China friendship. It may have to demonstrate through its words and actions that it considers China -- and not the US -- its best friend. It should address China’s concerns about Pakistan’s support for the Taliban in the past and its spillover effects on Chinese provinces.

It may also be expected to demonstrate a stronger commitment with the members of the Shanghai Cooperation Organisation (SCO). But all this would require a comprehensive review of Pakistan’s foreign, economic and defence priorities and policies and a national consensus to demonstrate that it is indeed ready to enter into a new era of its strategic relationship with China.

 

[Neo]

Zardari wants long-term economic cooperation with China ​

ISLAMABAD (October 15 2008): President Asif Ali Zardari said he was looking forward to a long-term economic co-operation with China and said his state visit to the neighbouring country will focus on trade and economic ties. Talking to official Chinese news agency Xinhua, prior to his departure on his four-day visit to China, the President said he expected to prioritise economic ties in his talks with the Chinese leadership.

Zardari said he has a long-term economic co-operation plan with China. "The concept of Pakistan-China relationships are not a five-year plan," he said, referring to the programme for economic and trade co-operation signed between the two counties during Chinese President Hu Jintao's visit in 2006. The two countries agreed to increase their bilateral trade volume to 15 billion US dollars by 2011.

He said "I am the first businessman president of Pakistan. So we have a lot of cultural and friendly ties, but that is not properly depicted by our economic relationship," Zardari said. President Zardari said he was keen on ways to lead the country out of the current economic difficulties by enhancing co-operation with China.

"I am looking forward to visiting China, I have not been to China for the last 24 years. China has changed since I last was there. I am hoping to remind the leadership of the world how close our relationships are," Zardari said.

The President said he would like to visit China "every three months," to know more about the Chinese economy and seek potential co-operation in all areas. About the changes occurring in China in the past 30 years since its reform and opening-up, President Zardari said he was deeply impressed by China's achievements, and success on its own, especially its transition to the socialist market economy "with perfection."

"China is the future of the world," he said. "A strong China means a strong Pakistan." The President pledged further co-operation with China in energy, finance and agriculture. To a question on anti-terrorism, Zardari said Pakistan and China will carry out close co-operation in this regard.

"We need commonality to fight terrorism," he said. President Zardari said the country was ready for the impending challenges and difficulties. "Governance is all about standing up for challenges, and I stood up for challenges all my life," Zardari said. The two countries are expected to ink several agreements during the visit besides interactions with heads of Chinese financial institutions and corporate sector.

 

[Neo]

'President's visit to China will enhance cooperation in various fields' ​

ISLAMABAD (October 15 2008): The visit of President Zardari to China would help further promote investment and trade besides enhancing interaction between people of the two nations said Hamid Saeed Kazmi, Advisor to Prime Minister on Religious Affairs. He hoped that the President's visit would focus on co-operation in different fields like economy, trade, finance, energy and technology.

He was talking to TV on Tuesday morning. Responding to a question, he said the new government is committed to strengthen friendly relations with China, deepening mutually beneficial co-operation and pursuing common development.

The advisor acknowledging the deep political and strategic co-operation between the two countries emphasised the need for enhancing bilateral economic and trade co-operation. China will continue to support Pakistan in its efforts for economic development and more Chinese corporations and business entities would be encouraged to invest in Pakistan, he said.

He added Pakistan is a democratic country and the government wants to resolve all the problems through dialogue including the on going war against terrorism. Kazmi said that the government was fully aware of the problems like shortage of electricity and gas and a comprehensive strategy is being evolved to resolve the issue of load shedding on permanent basis. He hoped that consensus and understanding between various political parties would help strengthen democracy in the country.

 

[ejaz007]

Pacts signed by Pakistan and China

* Agreement on Economic and Technical Co-operation

* Amending Protocol to Free Trade Agreement

* Framework Agreement on Co-operation in Mining

* Memorandum of Understanding (MoU) on Co-operation between the Ministry of Land Resources of China and Ministry of Petroleum and Natural Resources of Pakistan

* Agreement on Environmental Protection

* Framework Agreement for Co-operation in Radio and Television

* Paksat-IR Satellite Procurement Contract

* MoU on Scientific Collaboration in Agricultural Research and Technical Co-operation

* Agreement on Properties Exchange between the Ministry of Foreign Affairs of China and the Ministry of Foreign Affairs of Pakistan

* Co-operation Agreement between Beijing Museum of Natural History and the Museum of Natural History of Pakistan

* MoU on Co-operation between Cricket Association of China and the Pakistan Cricket Board

* MoU on Project of X-Ray Container/Vehicle Inspection System

Daily Times - Leading News Resource of Pakistan

 

[jeypore]

Pacts signed by Pakistan and China

* Agreement on Economic and Technical Co-operation

* Amending Protocol to Free Trade Agreement

* Framework Agreement on Co-operation in Mining

* Memorandum of Understanding (MoU) on Co-operation between the Ministry of Land Resources of China and Ministry of Petroleum and Natural Resources of Pakistan

* Agreement on Environmental Protection

* Framework Agreement for Co-operation in Radio and Television

* Paksat-IR Satellite Procurement Contract

* MoU on Scientific Collaboration in Agricultural Research and Technical Co-operation

* Agreement on Properties Exchange between the Ministry of Foreign Affairs of China and the Ministry of Foreign Affairs of Pakistan

* Co-operation Agreement between Beijing Museum of Natural History and the Museum of Natural History of Pakistan

* MoU on Co-operation between Cricket Association of China and the Pakistan Cricket Board

* MoU on Project of X-Ray Container/Vehicle Inspection System

Daily Times - Leading News Resource of Pakistan

I agree with Mr. AM that nuclear deal would have been to soon, but I am also surprised that there is no mention of any defensive agreement as well as any joint terrorism help. If China could have step in helping Pakistan it would have made things easier.

 

[Neo]

Pakistan, China sign 12 agreements, protocols: Beijing offers to boost economic cooperation, supports Islamabad’s efforts to safeguard sovereignty​

BEIJING, Oct 15: Pakistan and China signed here on Wednesday 12 agreements, memorandums of understanding and protocols to enhance cooperation on a sound footing in various sectors, including infrastructure, information technology, energy, telecommunication, agriculture, industry, minerals, trade, disaster relief and space technology.

The signing ceremony held at the Great Hall of the People was witnessed by President Asif Ali Zardari and his Chinese counterpart Hu Jintao after an hour-long one-to-one interaction between the two leaders and two hours of talks between delegations.

A joint statement will be issued on Thursday.

President Hu Jintao hosted a banquet in honour of President Zardari and his delegation after the delegation-level parleys and the agreement-signing ceremony.

During their talks, both sides agreed to strengthen strategic partnership in all sectors, reinvigorate the multi-faceted bilateral relations, intensify economic cooperation and foster people-to-people contacts.

Pakistan’s Ambassador to China Masood Khan told media personnel after the signing ceremony that the talks laid stress on fostering economic cooperation on a strong footing.

President Hu Jintao and President Zardari expressed satisfaction over the growth of Pakistan-China relations and agreed that their friendship had emerged stronger with every important change in the international, regional and domestic environment.

According to a press release issued, the two leaders stressed the need for reinforcing efforts for “deepening the Pakistan-China strategic partnership in new circumstances”.

The two sides decided to accelerate the implementation of

the Five-Year Development Programme on Economic Cooperation.

President Hu Jintao reiterated China’s support for Pakistan’s efforts to safeguard its sovereignty and territorial integrity. He condemned recent terrorist atttacks in Pakistan and appreciated sacrifices rendered by Pakistan in its struggle against global terrorism.

Reiterating Pakistan’s desire for strong and long-term relationship with China, President Zardari reaffirmed Pakistan’s resolve to continue its fight against terrorism and extremism. He said the fight was in Pakistan’s own interest, adding that terrorism threatened the country’s stability.

Investment incentives

Earlier, during a luncheon meeting with over 200 top corporate executives at the State Guest House, President Zardari offered ‘special preferential treatment’ to Chinese investors and urged them to invest in Pakistan and benefit from its geo-strategic location.

“With a well-placed geographical location, Pakistan has to offer you the investor-friendly environment, laws and legislation, human capital and other resources,” he told the executives.

He said his visit was reflective of the deep-rooted, strong and historic 40-year ties between the two countries.

He said Pakistan provided ample opportunities for investment in trade, industry, financial services, banking, energy, construction, real estate and tourism sectors and Chinese companies were welcome to invest in these fields to help develop the country’s untapped potential.

The president said that with half of the world population living in China and Saarc countries, the increased China-Pakistan cooperation could promote development and prosperity in the region.

He said Pakistan’s location at the confluence of South Asia, Central Asia and the Middle East and its vast coastline provided a trade and energy corridor to many regional countries.

Mr Zardari said that all possible facilities would be provided to Chinese investors and a special cell would be set up for development of Pakistan-China industrial and economic zones across the country.—APP

Key agreements

• Agreement on economic and technical cooperation;

• Amending protocol to Free Trade Agreement;

• Framework agreement to set up $300 million National Electronics Complex in Pakistan;

• Framework agreement on mineral cooperation;

• MoU on cooperation in petroleum and natural resources;

• Agreement on environmental protection;

• Framework agreement for cooperation in the field of radio and television;

• Paksat-IR Satellite procurement contract;

• MoU on scientific collaboration in agricultural research and technical cooperation, and;

• MoU on cooperation between China’s Cricket Association and the Pakistan Cricket Board.

 

[batmannow]

BREAKING NEWS ON GEO TV
! china to help pakistan to overcome economic crisis.
!china ready to advance strategic ties with pakistan.
chinese prime minster said that all !
long live great CHINA & chinese peoples!

 

[dr.umer]

China to deliver telecom satellite to Pakistan ​

BEIJING, Oct. 16 (Xinhua) -- China will launch a telecommunication satellite, dubbed PakSat-1R, for Pakistan in 2011.

The satellite's chief contractor -- China Great Wall Industry Corporation (CGWIC) -- said on Thursday that a Long March 3B rocket will be used to put the satellite into orbit.

It will launch from the Xichang Satellite Launch Center in the southwestern Sichuan Province.

The company said ground control facilities for the satellite will be delivered to the Pakistan Space and Upper Atmosphere Research Commission after it enters orbit.

CGWIC and its sub-contractors are responsible for the design, manufacturing, final assembly, testing and launch of the satellite.

It will have a life span of 15 years.

Pakistan will use it for domestic telecommunication and broadcast services.

Contracts for the satellite deal were sealed Wednesday in the presence of presidents from both countries. Pakistan President Asif Ali Zardari was in Beijing for his first state visit since taking office in September.

This is the third time China has delivered a satellite to another country. In 2007, two satellites were sent to Nigeria.