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Wen Jiabao Addresses China-Pakistan Business Cooperation Conference, Raising 3 Suggestions on the Economic and Trade Cooperation

On the afternoon of April 6th, 2005, Premier Wen Jiabao of State Council, who was on an official visit to Pakistan, attended China-Pakistan Business Cooperation conference, and delivered a speech on the economic and trade cooperation between China and Pakistan.

Wen Jiabao said that it was the wish of the people of both countries to strengthen the economic and trade cooperation. The leaders of both countries had reached common consensus on this issue. Pakistan enjoys abundant resources. China boasts some advantages in such fields as equipment manufacturing industry, infrastructure construction, mineral exploitation and high-tech industry. The two countries could share complementary advantages to achieve common development.

Premier Wen raised three suggestions on further expanding the scope of bilateral trade and investment and enriching the meaning of the strategic partnership of both countries.

I. To adhere to the principle of equality and mutual benefits and share complementary advantages. Both China and Pakistan are the developing countries. The goal of our cooperation is to seek common development. The economies of both countries enjoy strong complementarities. Pakistan enjoys abundant resources. China possesses the applicable technologies and development experiences. There are great potentials to strengthen the cooperation between the two sides. China will try to optimize China-Pakistan trade structure and improve the trade imbalance with Pakistan. China will actively encourage the competitive enterprises to invest in Pakistan so as to achieve win-win results and create more employment opportunities in local areas.

II. To strengthen communications and exchanges and expand opportunities for business cooperation. Recently the business circles of China and Pakistan have carried out exchanges frequently. The delegation of China Enterprise Confederation (CEC) and the delegation of the private entrepreneurs visited Pakistan not long ago. Today, the entrepreneurs from both countries are meeting here to discuss the cooperation strategies. The exchange and cooperation between enterprises are important pillars of China-Pakistan economic and trade relations. China encourages the enterprises of both countries to strengthen mutually beneficial cooperation and learn from each other for common development in a manner that better complies with the rules of market economy. The governments of both countries should build a platform and create opportunities to promote the establishment of cooperation and communications mechanism.

III. To expand the cooperation fields and seek for varied means of cooperation. The established cooperation basis should be solidified. The cooperation in such fields as agriculture, finance, science and technology should be expanded and the cooperation in new fields continuously sought, such cooperation means as joint venture, sole foreign ownership, lease, training and contracting explored actively so as to inject new vitality to China-Pakistan economic and trade relations.

In the end, Wen Jiabao said to all Chinese and Pakistani entrepreneurs present at the conference that the economic and trade cooperation between China and Pakistan enjoy immense potential and bright prospects. Let us join hands to make concerted efforts to create a new scenario for the economic and trade cooperation for mutual benefits and win-win results.

More than 500 delegates from Chinese and Pakistani industrial and business circles listened respectfully to the address of Premier Wen Jiabao.

Pakistani Prime Minister Shaukat Aziz delivered a speech at the conference, speaking positively of the achievements in the economic and trade cooperation between China and Pakistan. He hoped that both countries could further expand trade and promote the cooperation in such fields as telecommunications, agriculture, energy and infrastructure construction.

The economic and trade cooperation between China and Pakistan develops smoothly. In 2004, the trade volume of both countries exceeded US$ 3 billion, up 26% over the same period last year and was 3 times of that in 2000. The projects signed by both sides added up to US$7,240,000,000 in contractual terms. On April 5th, China and Pakistan announced to start the negotiation process of establishing China-Pakistan free trade area and signed the Agreement on the "Early Harvest" of Free Trade Area between China and Pakistan.

On the afternoon of April 6, Wen Jiabao and Aziz attended a foundation stone laying ceremony of China-Pakistan Friendship Center.

On the same morning, Wen Jiabao met with staffs of the Chinese embassy in Pakistan and delegates from Chinese-funded enterprises, overseas Chinese and students abroad and delivered a speech.

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