LAHORE -  The Punjab Board of Investment & Trade and China Railway Construction Corporation International (CRCCI) have signed a memorandum of understanding (MoU) to make joint efforts for further improving bilateral economic ties and trade relations between Pakistan and China.

Jahanzeb Burana, CEO Punjab Board of Investment & Trade, and Wang Li, Executive Representative, China Railway Construction Corporation International (CRCCI) signed the MoU here at offices of Punjab Board of Investment and Trade. PBIT and CRCCI intend to conduct joint works in exploration of business opportunities in Punjab and make due contributions to the development and growth of China-Pakistan economic relationships.

Both entities shared their desire of working together to share information essential to promote the needs of their people and identifying areas of collaboration for catering to the same. The parties underscored fact that collaboration between PBIT and CRCCI will reinforce private sector led growth and infrastructure development in the Punjab, foster job creation and support inclusive economic development to augment the overall growth strategy of the Government of Punjab.

CEO Punjab Board of Investment and Trade, Jahanzeb Burana told the delegation that Pak-China friendship has become a unique example for other nations to follow, adding that strong economic cooperation exists between the two countries. He said that Pak-China relations are touching new heights as CPEC has helped open new avenues of foreign investment in Pakistan. Jahanzeb Burana told visiting delegation that agriculture is the mainstay of Punjab’s economy which needs to be revolutionised and Chinese investors can invest in this sector to bring green revolution in this area.

According to the MoU details, both PBIT and CRCCI shall undertake mutual endeavours to enhance trade and investment and economic cooperation between the two countries, especially in the areas of industrial and special economic zones, agriculture and allied, urban transportation infrastructure, information technology and textile value chain.