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China and Pakistan have wrapped up a meeting on boosting economic, trade, scientific and technological cooperation, the Ministry of Commerce said Tuesday.

 

Chinese Commerce Minister Bo Xilai and Dr. Salman Shah, advisor to the Prime Minister of Pakistan on Finance, exchanged views during the meeting on expanding trade, facilitating investment and implementing a development plan on Sino-Pakistan trade which was put to effect last year.

 

Bo said China hopes to increase imports from Pakistan to promote trade balance and encourages Chinese companies to invest in this South Asian country.

 

China will also continue to encourage the two countries' small-medium sized companies to strengthen cooperation on agriculture, manufacturing and the service industry, he said.

 

Dr. Shah said that Pakistan welcomes investment from China, especially in infrastructure facility, water resources, mineral, farming and services industries.

 

The two countries reached a free trade agreement last year and China established its first overseas trade and economic cooperation zone, Haier-Ruba Economic Zone, in Pakistan.

 

Dr. Shah said he believes the economic zone, which mainly produces household appliance, would help promote the economic and technological cooperation between the two countries.

 

The trade volume between the two countries hit US$5.25 billion last year, up 23.1 percent year on year. It is estimated that the volume will increase to eight billion by the end of 2008.

 

(Xinhua News Agency April 11, 2007)