ISLAMABAD, Aug 25 (APP): President Asif Ali Zardari’s recent visit to China during which the two countries signed eight Memoranda of Understanding (MoUs) in diverse fields, is a significant step to help the country learn from Chinese model of economic development.President Zardari during his four-day visit to Zhejiang and Guangdong provinces China’s two most prosperous models of economic development, not only witnessed the signing of MoUs particularly on power generation and agriculture, but also held a series of meetings with China’s business giants.

“The centerpiece of the President’s visit is the MoU signed on building a 7,000 MW hydro power in Bunji in the Northern Areas,” Spokesperson to the President former Senator Farhatullah Babar said after the completion of President Zardari’s visit.

The project will be built on BOOT (build, operate, own and transfer) basis with total foreign investment.

The MoU has been signed between Pakistan’s Water and Power Ministry of Pakistan and China’s Three Gorges Project Corporation that has recently built the world’s largest hydro power project in China, capable of generating over 22,000 MW and a water reservoir spread over 650 sq.km.

Farhatullah Babar said President Zardari has been emphasizing upon economic diplomacy and recently asked the government to set up an Economic Wing in the Ministry of Foreign Affairs for this purpose.

“The fourth just concluded visit to China is part of the aggressive economic diplomacy launched under directions of President Zardari,” he said.

President Zardari also invited private companies in China engaged in building small and medium dams to bid for the construction of 12 small and medium dams in Pakistan’s four provinces. Five dams will be built in Balochistan, four in Sindh, two in Punjab and two in N.W.F.P, for which sites have already been identified.

Pakistan and China also signed a Memorandum of Understanding on cooperation in drug regulation and production of hepatitis B and C vaccines.

Another MoU was signed between the Sindh Agricultural University in Tandojam and the South China Agricultural University in Guangzhou province for cooperation in agricultural research, plant protection and animal husbandry.

President Zardari also visited the Pearl River Fisheries Research Institute where an MoU was signed for setting up a model fisheries farm in Pakistan and also to train Pakistani fishermen on advanced techniques.

Two separate Memoranda of Understanding were signed by the Board of Investment of Pakistan with China Council for Promotion of International Trade (CCPIT), Guangdong province and the Guangdong Sub Council of CCPIT.

President Zardari also presided over two business forums with Chinese entrepreneurs and held meetings with business and industrial magnates. He emphasized that the cordial and brotherly relations between the two countries needed to fully exploited in the business and economic fields.

He stressed for reflecting the depth of relations in economic and trade fields as well, adding that China was a success story and the world had a lot to learn from this model.

About the prospects of Pakistan-China deeper economic cooperation, the President said half of the mainland China was closer to the Pakistani ports as compared to Chinese ports. He said it could open enormous possibilities of cooperation between the tow countries.

President Zardari during his visit invited a Chinese firm to visit Pakistan for coal gasification in Sindh.

The Chinese Foreign Minister met President Zardari where they discussed a host of bilateral, regional and international issues.

The Chinese Foreign Minister said President Zardari’s visit had given a pragmatic push to the cooperative agreements between the two countries.

President Zardari also invited Chinese president and premier to visit Pakistan.

This was President Zardari’s fourth visit to China since he first visited the country as President in October last and declared that he would visit China every three months along with experts. The aim is to learn from the Chinese model of development on one hand and also to further boost trade and economic relations between the two countries.