With a view to strengthen economic relations, a memorandum of understanding (MoU) was signed between the Punjab Board of Investment & Trade (PBIT) and Qingdao Municipal Government China.
The said MoU was signed during the visit of a Qingdao Municipal Government delegation led by Liu Mingjun, Vice Mayor of Qingdao Municipal Government to Lahore. The ceremony was followed by a lunch, which was hosted by DCO Lahore in the honour of Mr. Liu Mingjun. The aim of this MoU is to formalise economic ties, as well as set a mutually acceptable roadmap to work collaboratively on the potential projects in various sectors.
Salient features of the MoU are to share information relating to trade and investment on a regular basis and provision of assistance and convenience on various activities such as mutual visits, relative expos, seminars and project negotiations. To undertake actions to help each other in bilateral investment in advanced industries including energy saving, circular economy, equipment manufacturing, port logistics and education was one of the highlights.
Prominent figures who attended the ceremony were, Punjab Finance Minister Mujtaba Shujaur Rehman, Lahore DCO Usman Younas, TEVTA Chairman Sheheryar Baksh, and PBIT Chairman. Abdul Basit, and CEO Mohammad Ilyas Ghauri, along with General Projects, Policy & Research Director Lubna Pathan, were present.