LAHORE: The Punjab Board of Investment and Trade (PBIT) and China Railway Construction Corporation International (CRCCI) signed a Memorandum of Understanding (MoU) on Saturday to make joint efforts for further improving bilateral economic ties and trade relations between the two countries.
PBIT CEO Jahanzeb Burana and Wang Li, Executive Representative, CRCCI signed the MoU. PBIT and CRCCI intend to jointly explore business opportunities in Punjab and make due contributions to the development and growth of China-Pakistan economic relations.
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“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,” a press release said.
Both sides also underscored that 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, the release added.
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.
“Pak-China relations are touching new heights as CPEC has helped open new avenues of foreign investment in Pakistan,” Burana said.
He also highlighted the agriculture sector as the mainstay of Punjab’s economy, stressing the importance of revitalising it through Chinese investments to cope with the increasing demand.
Published in The Express Tribune, October 22nd, 2017.
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