LAHORE - A 13-member delegation from Yantai City including 4 officials of the Chinese government came to Lahore on a 7-day visit. The purpose of their visit was to upgrade the MoU of the twin city signed last year into an agreement and aggressively start working on it.

Second objective was to explore the Pakistani market for business matchmaking and joint ventures, especially in trade, real estate, home appliances, solar panels, machine and equipment besides project contracting.

Sole responsibility of this delegation was tasked to the Punjab Board of Investment & Trade (PBIT). During their visit the delegation met the businessmen of Punjab, officials of government of Punjab and the Chief Minister Shahbaz Sharif.

In a meeting at the Lahore Chamber of Commerce, the head of 13-member delegation of Yantai Chamber of Commerce & Industry Zhao Qingwei said that Chinese businessmen were ready to join hands with their Pakistani counterparts.

He said the Chinese business community values Pakistan highly; therefore, they were always ready to put their money in new ventures in Pakistan.

He said that both China and Pakistan were resourceful countries but the level of bilateral economic relations do match with the warmth of their ties therefore, private sectors in both the countries need to come forward to further strengthen these relations.

First meeting was held at the Punjab Board of Investment & Trade where they were briefed about the investment climate in Punjab.

Speaking at the occasion, Chairman PBIT Abdul Basit said as China-Pakistan Economic Corridor also crosses through Punjab so there are abundant opportunities for investment in Punjab. He informed the delegation about his recent visits to China where an agreement of worth $1.1 billion was signed with a Chinese company for development of an entertainment Park. Another development of this visit was that Golden Beam Company of China agreed to construct a 98km expressway from Khanewal to Lodhran.