LAHORE: Six memorandum of understanding (MoU), were signed at the Punjab Shandong Business Seminar organized by the Punjab Board of Investment and Trade (PBIT) here on Thursday in a bid to strengthen economic ties between Punjab and Shandong.
The purpose of the seminar was to develop areas of cooperation in the fields of textiles, manufacturing, energy, infrastructure, hospitality, real estate and construction between Punjab and Shandong.
Shandong Yongtai Paper Mill Co. Ltd & Roshan Packages (Pvt) Ltd signed an MoU to set up a paper mill in Punjab. Another MoU was signed between Jinan Sinox International Co. Ltd & Reshma Power Generation (Pvt) Ltd to provide Heavy Fuel Oil Treatment And Emulsification Technology Services For Better Environment.
Shandong Provincial Enterprises signed an MoU with Foreign Investment & WOW Solutions (Pvt) Ltd for establishing investment promotion service cooperation.
Addressing the seminar, Chief Minister Punjab Muhammad Shahbaz Sharif said, “While our bilateral relations at the Government to Government level have been exemplary, it is high time that we create conditions for our businessmen, entrepreneurs and investors to increase their level of engagement.”
Vice Governor Shandong, China Xia Geng while addressing the participants said that Pak-China relationship has exceeded beyond economic ties, adding that both countries have deep rooted cultural ties and our friendship was deepening with the passage of time.
On the occasion, PBIT Chairman Abdul Basit said, Pakistan always valued its close historical and fraternal relations and strategic partnership with China. Both countries can take legitimate pride in their enduring ties based on a host of shared economic and strategic interests, he added.
The Chief Minister Punjab and Vice Governor Shandong signed an agreement establishing friendly province relationship whereas the CM Punjab also signed another agreement with the Vice Governor to establish various Special Economic Zones in collaboration with China all over the Punjab.
Talking to the media, PBIT CEO Amena Cheema said that the MoUs and agreement signed during the Punjab-Shandong Business forum will further strengthen the economic ties between China and Pakistan. The PBIT would take a lead in arranging meetings of the delegation for the forthcoming visit of the CM to Shandong with the relevant Chinese businesses, she mentioned.
Various industrialists and government officials from Shandong were also present on the occasion.
