CHENGDU, April 20 (APP): Prime Minister Shaukat Aziz Friday invited  the business community of China and of Sichuan province to invest in Pakistan and avail the business-friendly policies offered to foreign investors.

   He was speaking at "Sichuan-Pakistan Business Seminar"  here that was  largely attended by the members of prominent Chinese business community doing business in diverse fields.

   He said that Pakistan is privileged for being one of the few countries  in the world that signed the Free Trade Agreement (FTA) with China.

   The FTA, he said allows movement of goods from one country to other at  very low rate of tariff and even in some case there is no tariff at all.

   The Prime Minister said that FTA provides attractive incentives to the traders to do business with each other countries.

   He said that last year when Chinese President Hu Jintao visited Pakistan  we both inaugurated the Haier-Ruba Industrial Zone, near Lahore.

   This Zone, the Prime Minister said allows very attractive incentives and  added that Chinese investors have started coming to Pakistan to avail these opportunities.  

    He said that there will be no tariff for the next five years and no duty  for goods to be imported.

   This Zone, he said will serve as a platform to meet the demand of local  market and also export the products to various parts of the world including Middle East and African countries.

   He said that in our discussion with the Chinese leadership, both the  sides have agreed to set-up Pakistan-China Joint Investment Company.

   He said this company will explore the avenues of investment projects in  Pakistan, with particular emphasis on building infrastructure, roads, railways and power generation.

   The Prime Minister said that this Company will also provide opportunities  for China and Sichuan Province businessmen to bid for various development projects thus increase the level of trade.

   The Prime Minister pointed out that there were many entrepreneurs from  Sichuan province already active in Pakistan and as a result of the Joint Investment Company more investment opportunities would be available for them.

   He said that this seminar will provide a platform for close interaction  for generating business activities between the two sides.

   Shaukat Aziz said that he was very much impressed by the industrial activities that taken place in Sichuan province in various fields including avionics, real estate, heavy machineries as well as Information Technology and invited the Chinese businessmen to come forward and invest in Pakistan, as there were vast opportunities available for them.

   Referring to the Sino-Pak trade, the Prime Minister said that at present  we have US$ 5 billion dollar and our target for the next five years is US$ 15 billion.

   He said that this target is within the reach as economy of both the countries were growing and the Free Trade Agreement allows preferential access to the markets of Pakistan and China.

   The Prime Minister invited the participants to visit Pakistan and see  themselves the tremendous opportunities available there.

    Shaukat Aziz said that his visit will play an important role for promotion of business activities between the two countries.

    On the occasion an agreement of cooperation between China Council for the  Promotion of International Trade (CCPI), Sichuan Council, and Trade Development Authority of Pakistan was signed. The Prime Minister witnessed the signing ceremony.