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| Hu focuses on greater economic cooperation with Pakistan | | |
ISLAMABAD, NOV 26
Broadening the focus of China's "all weather friendship" with Pakistan with agreements on defence collaboration and economic tie-ups, President Hu Jintao wrapped up his four-day visit today by inaugurating a joint economic zone near Lahore.
"China attaches great importance to economic relations with Pakistan. Chinese companies were investing in Pakistan and investment in Pakistan was of mutual benefits for both the nations," Hu said after inaugurating the Haier-Ruba Economic Zone at Manga Mandi, some 40 kilometres from Lahore and close to the Wagha border with India.
Hu said this would be the first largest home appliances production base in Pakistan and the first Sino-Pak joint venture of its kind.
"This project symbolises the widening and deepening of economic relations between China and Pakistan," he said, adding the economic zone would prove a pace setter for Pakistan-China economic relations.
The new economic zone was in addition to the Free Trade Area, (FTA) signed between the two countries during Hu's visit. The FTA, to be effective from July 1, 2007, will reduce tariffs to zero level on hundreds of items for import and export between the two countries and for the first time provide duty concessions to Pakistan's textile products.
Hu was seen off at the Lahore airport by Prime Minister Shaukat Aziz and a battery of officials after four days of grand ceremonies and public receptions in Islamabad and Lahore. However, President Pervez Musharraf, who along Aziz received Hu here, was conspicuous by his absence at the departure ceremony. |
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