Trade with China set to double in two years

[Naveed Yaseen]

By Shamim-ur-Rahman
BEIJING: Pakistan and China agreed on Thursday to double bilateral trade and strengthen ties in economic, defence and energy sectors.

The agreement was reached at a meeting Prime Minister Yousuf Raza Gilani held with his Chinese counterpart Wen Jiabao before leaving for home after a four-day visit.

The two leaders agreed to take bilateral trade to $15 billion by 2011 from the existing $7 billion. They also discussed measures to carry out projects in railways, roads and fibre optic sectors.

It was decided that heads of the State Bank of Pakistan and People’s Bank of China would meet soon. China assured Pakistan of its support in developing agriculture by growing hybrid rice and sugarcane.

Foreign Secretary Salman Bashir said after the meeting that Premier Wen reiterated his government’s pledge to help Pakistan in building medium- and small-size dams. He said it was agreed that efforts would be made to realise full potential of the Gwadar port.

During Mr Gilani’s visit to China, the two countries signed two agreements and a Memorandum of Understanding on space concessional loan, space technology and alternative energy.

IRANIAN VICE-PRESIDENT: Mr Gilani also held a meeting with Iran’s First Vice-President M.R. Rahimi. They agreed to expedite work on the Pakistan-Iran gas pipeline project.

The two leaders, who were in Beijing to attend the SCO (Shanghai Cooperation Organisation) summit, also discussed ways to improving bilateral relations.

http://www.dawn.com/wps/wcm/connect/dawn...rs--szh-06