KARACHI - China Investment Corporation (CIC) President Gao Xiging has stated that China and Pakistan are great friends and Pakistan is one of the best friends of China. Both countries have been committed to develop closer bilateral relations and further broaden their economic engagement for achieving common development while exchanging views with the leadership of KCCI.

He also said that Pakistan is our neighbour country and Chinese always feel safe in Pakistan, opportunities for joint ventures in different sector do exist. So far, China-Pakistani economic and trade cooperation has seen good progress. Pakistan has very good potential in different fields and China is also giving new face to its industry with sector diversification. China-Pakistan’s trade and economic cooperation has seen good progress, he added.

Gao Xiging said CIC is state-owned institution, having around $200 billion foreign exchange reserves enters into investment, joint ventures and shareholding.

KCCI’s President Haroon Agar said Pakistan and China can collectively do wonders as the economic activities are now focusing towards Asia. 

With Pak-China mutual cooperation, regional trade and trading with SAARC, ECO and Central Asian blocks can multiply to manifolds. He urged Chinese investment in energy, infrastructure, metro-railways, mass-transit, dams projects which are direly needed to uplift economy and further strengthen Pak-China friendly relationship and economic cooperation.

He said Karakorum Highway is a remarkable example of mutual cooperation and is the symbol of friendship and understanding. 2011 was celebrated as “Pakistan–China Friendship Year, on 60th Anniversary of Pak China Relations”. More than 11,000 Chinese engineers, technicians and workers are rendering their valuable services in progress and development of Pakistan.

Chairman Sindh Board of Investment & former President KCCI Muhammad Zubair Motiwala proposed the President of China Investment Corporation to establish Pak-China mutual fund that fund can be used for potential projects and joint ventures in the public and private sector of Pakistan.

He articulated that Pakistan has second largest reserves of coal. Pakistan can benefit from Chinese technical assistance in coal energy projects. He also emphasised on the urgent need for accelerating the effort for development of indigenous and cheaper energy resources.