ISLAMABAD - Prime Minister Raja Pervaiz Ashraf on Friday said that Pakistan and China were all weather friends and their friendship was deep-rooted and based on mutual trust and respect.

“We value China’s consistent support for Pakistan’s socio-economic development,” he added.

The Prime Minister was talking to President of China Investment Corporation (CIC) Gao Xiqing, who called on him here at the Prime Minister House.

He said, “we acknowledge the long history of Pakistan-China economic cooperation.”

Pakistan and China have strategic partnership, which encompasses economy, trade, energy, defence, investment, people-to-people contacts, culture, education and other areas, he added.

The Prime Minister said that Pakistan acknowledged the China Investment Corporation’s commitment in maintaining the high professional and ethical standards in corporate governance, transparency, accountability and assured the CIC of government’s support in their quest for investing in the Pakistani market. He highlighted that Pakistan had an investor friendly policy like equal treatment for local and foreign investors and all sectors of economy open for foreign direct investment.

He invited the Chinese investors for investment in power sector, stating that Pakistan was blessed with abundant and vast untapped resources in renewable energy, which were economically exploitable with prospects of investment opportunities.

Gao Xiqing said that they had interacted with public and private sectors in Pakistan during the last three days and had been impressed by the potential that Pakistan offered to investors.