At least six memoranda of understanding (MoU) were signed at the Punjab Shandong Business Seminar organised by the Punjab Board of Investment and Trade (PBIT) on Thursday in a bid to strengthen economic ties between Punjab and Shandong.
The purpose of the seminar was to develop areas of cooperation in the fields of textiles, manufacturing, energy, infrastructure, hospitality, real estate and construction between Punjab and Shandong.
Shandong Yongtai Paper Mill Co Ltd and Roshan Packages (Pvt) Ltd signed an MoU to set up a paper mill in Punjab. Another MoU was signed between Jinan Sinox International Co Ltd and Reshma Power Generation (Pvt) Ltd to provide heavy fuel oil treatment and emulsification technology services for better environment.
Shandong Provincial Enterprises signed an MoU with Foreign Investment & WOW Solutions (Pvt) Ltd for establishing investment promotion service cooperation.
Addressing the seminar, Punjab Chief Minister Shahbaz Sharif said: “While our bilateral relations at the government-to-government level have been exemplary, it is high time that we create conditions for our businessmen, entrepreneurs and investors to increase their level of engagement.”
Vice Governor Shandong, China, Xia Geng while addressing the participants said that Pak-China relationship had exceeded beyond economic ties, adding that both the countries had deep-rooted cultural ties and their friendship was deepening with the passage of time.
On the occasion, PBIT Chairman Abdul Basit said that Pakistan always valued its close historical and fraternal relations and strategic partnership with China. Both the countries could take legitimate pride in their enduring ties based on a host of shared economic and strategic interests, he added.
The Punjab chief minister and the Shandong vice governor signed an agreement for establishing friendly province relationship whereas the Punjab CM also signed another agreement with the vice governor to establish various special economic zones in collaboration with China all over the Punjab.
