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Joint economic zone opens in Pakistan

By Yu Liang (China Daily)
Updated: 2006-11-28 11:07

The ministry said a number of Chinese enterprises are interested in investing in the zone, and the Pakistani side has agreed to provide services to Chinese enterprises, in particular small- and medium-sized firms, to facilitate their investment.

Besides manufacturing, Chinese enterprises will also help Pakistan by training staff and providing technological assistance.

The commerce ministry said it is encouraging domestic enterprises to develop similar co-operation zones overseas. Such zones, which could be built by a single company or a group of firms, could play a key role in helping Chinese small- and medium-sized enterprises invest abroad, said an unnamed ministry official.

He said the Chinese Government would "fully support them" and expects more such zones to be established in other countries in the next three to five years. The inauguration of the joint venture followed last week's signing of the Free Trade Agreement (FTA) between China and Pakistan. The FTA boosts bilateral trade and investment by scrapping tariffs on hundreds of items traded between the countries.