ISLAMABAD - Faisalabad and Qingdao cities have signed a Letter of Intent (LOI) to develop a sister city relationship aimed at promoting bilateral trade and economic partnership.
According to a Gwadar Pro report, the signing was conducted by Pakistani Ambassador Moin ul Haque to China and Zhao Haozhi, Mayor of Qingdao.
The LOI was signed as a part of the festivities to commemorate the 70th anniversary of the establishment of diplomatic relations between Pakistan and China, which is being celebrated this year. The signing ceremony was held during the ‘2021-SCO International Trade and Investment Forum’ in Qingdao. It was witnessed by Liu Jiayi, Party Secretary of Shandong CPC Committee, Le Yucheng, Vice Foreign Minister of China.
Ambassadors and the representatives of many countries attended the event. Qingdao is one of the most important cities in Northern China. It is located in Shandong province alongside the East China Sea. The city has rapidly risen as a hub for regional economy and trade.
It is the host to many Shanghai Cooperation Organization institutions and the city organized the SCO Summit in 2018.
Many local companies of Qingdao are operating in Pakistan in electronics, agriculture, and service sectors.
The development of a sister-city relationship between Faislabad and Qingdao is also aimed to building upon the natural affinities between the two cities and deepening bilateral relations in diverse areas of cooperation.
As major hubs for regional economic and trade in their respective regions, the sister city ties seek to enhance the existing cooperation between Faisalabad and Qingdao, and to explore more avenues by expanding two-way investment, trade, tourism, and education linkages, the report added.