CPEC, Pakistan Agriculture News

Chinese companies ink agreement to invest in textile sector

LAHORE   ( PR)   Recognising Pakistan’s potential as the world’s 4th largest cotton producer, Chinese investors have signed a cooperation framework agreement with government of Punjab. Chinese investors appreciated Pakistan’s textile and textile value addition sector and shown interest in investing in the Punjab.

In this regard, a four party cooperation framework agreement was signed between China Railway 20 Co. Pakistan (pvt) Limited, Shanghai Yuanyi Industry Company Limited, Pak-China Investment Company Limited and Punjab Board of Investment and Trade (PBIT).

Representatives from China Railway 20 Co. Pakistan (Pvt) Limited, Shanghai Yuanyi Industry Company Limited and Pak-China Investment Company Limited held a joint meeting at the Punjab Board of Investment and Trade. The Minister for Industries, Commerce and Investment, Mian Muhammad Aslam Iqbal, Chinese Consulate General Long Dingbin and CEO PBIT, Jahanzeb Burana also participated in the joint meeting.

All participants in the meeting were briefed about the core functions of PBIT as an investment promotion agency. Aslam Iqbal stated that the government resolves to strengthen the economic bond between both countries in light of China Pakistan Economic Corridor and Belt &Road Initiative. Participants of the meeting expressed a mutual resolve to work together and take things forward in a positive manner.

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