Zardari urges Chinese entrepreneurs to investment in Pakistan

GUANGZHOU, China (APP) -- President Asif Ali Zardari on Monday said Pakistan offers ideal investment climate for foreign investors and invited businessmen and entrepreneurs to set up businesses in the country.

Speaking at a forum Pakistan-Guangdong Trade and Investment Opportunities: Current Cooperation and Future Prospects, the President said this province of China is the hub of economic activities and the businessmen here will have access to huge market once they come to Pakistan.

He said Pakistan offers 100 percent equity share and their investments are protected by a law of the parliament.

The President said Guangdong's economy is comparable to some of the most developed economies of the world and the province is an industrial giant.

He said despite the international financial crisis, Pakistan has done well economically in the previous year, despite expenditure on security, relief and reconstruction.

Pakistan's agriculture, he added, has done well year on year, but with cooperation from China it will develop even further in future.

The President said it was heartening to note that Sino-Pak relations have a long history of cooperation, spanning four generations, but added, they are yet to be exploited to full potential.

"Leadership of both the countries will now have to transform these relations into tangible economic ties. We will have to take them to another level," he added.

President Zardari reiterated his offer to China to take full advantage of Pakistan's geo-strategic location and access warm waters for trade with new world markets in Middle East and Arab countries for its products.

"We have been friends for years and intend to be friends for many more years to come."

Pakistan's Ambassador to China Masood Khan on the occasion said that around 50 percent of Pakistani exports come to Guangdong, which, given the potential is very modest. He said to redress the situation, the volume of trade and investment needs to be diversified.

Vice Governor of Guangdong noted that Pakistan is one of the first countries to recognize China 60 years ago and since then their relations have seen a steady growth.

The representatives from various business houses in Guangdong in their presentations stressed the need for increase in economic ties between Guangdong and Pakistan.

Later, Pakistan's Board of Investment (BoI) and sub council of China Council for Promotion of International Trade signed a Memorandum of Understanding. President Asif Ali Zardari was also present at the signing ceremony.