President Zardari returns from four-day China trip
ISLAMABAD: President Asif Ali Zardari on Tuesday returned to the country after completing his four-day visit to China.
During his stay, the president signed several agreements n the field of hydle-power, investment, irrigation, agriculture and water management.
'President Zardari has returned to the country after a successful visit to China that will bring significant improvement in the respective fields,' FarhatUllah Babar, the president spokesperson told Dawn.
The biggest achievement of the president’s visit was China's willingness to provide $450 billion to Pakistan as suppliers’ credit for Neelum Jhelum Hydle Project, he said.
The government of Pakistan has also issued a Letter of Intent (LOI) to a Chinese firm for building 1100MW Kohala Power Project on Built Operate and Transfer (BOT) basis.
During the visit, MoUs were also signed for enhancing drip irrigation system in Pakistan and import of high yielding cotton seed from China that would increase agriculture production in the country with available agriculture land.
The spokesman said an agreement was also signed on free trade, specifically in services areas and investment under which China was offered 60 to 99.9 per cent profit sharing in any project.
However, all previous FTAs had allowed foreign investors to get 40 to 51 per cent share. The fresh FTA with China would be applicable in construction, telecommunication, healthcare, farming, tourism and IT education.
The Chinese government has also offered reciprocal opportunities to Pakistan in different sectors, including real estate.
President Zardari, during his visit, remained keen on better management of the country’s water resources which are depleting fast and signed an agreement with China to get benefit from its new technology that requires less water in agriculture, especially in rice production.
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