Pak, China sign pact for SEZ
Source : APP Date : June 20, 2013
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BEIJING, June 19 (APP): A prominent Pakistani business house Wednesday signed a pact with a key business entity of China for setting up Special Economic Zone in Pakistan. The signing ceremony was held at the Diaoyutai State Guest House here in the presence of large number of invitees. Faisal Afridi, the Chief Executive of Ruba- SEZ and Mr. Jun Ma, Chairman of China Enterprise Confederation (CEC)signed the agreement on behalf of their organizations.
According to Faisal Afridi, in the first phase the SEZ spread over an area of 900 acres of land will be setup, while later the SEZ will be developed on 3000 acres and finally on 10,000.
He said that the SEZ will be ehstablished near Lahore soon.
The CEC, according to Faisal has the members of China top 500 business entities, while all together it has 54500 membership.
He said that CEC member will submit their plan and proposals for investment in Pakistan.
Speaking at the signing ceremony, Faisal said that there are enormous investment opportunities Pakistan offers to the Chinese investors.
He said that due to strategic location and close proximity to China, Chinese investors can set up their industries in the SEZ and can sell their products not only in Pakistan, but also can capture growing middle east market.
The Minister Economic Salim Khan, speaking on behalf of Pakistan Embassy highlighted the significance of economic, political and people to people friendly relations between Pakistan and China.
Source: http://www.app.com.pk/en_/index.php?option=com_content&task=view&id=239564&Itemid=2