China Economic Net
Qingdao: The 2021 SCO International Investment and Trade Expo & SCO Qingdao Forum on Local Economic and Trade Cooperation opened this week. At the opening ceremony, five China-Pakistan MOUs were signed, Special Economic Zone (SEZ) ties, sister cities and bank cooperation included.
“At the crossroads of the Middle East, Central and South Asia regions, Pakistan’s geo-economic location puts us as the economic hub for global developmental projects. The Government has incentivized industries and investment. The rate of return in business is much higher than the global average with leading Multinational Corporations (MNCs) making higher profits than elsewhere,” Pakistani Ambassador to China Moin-ul-Haque addressed the ceremony.
MOUs were reached between China-SCO Demonstration Zone for Local Economic and Trade Cooperation in Qingdao and Gwadar Free Zone, Rashakai Special Economic Zone, and Habib Bank respectively to further enhance China-Pakistan economic and trade cooperation. The project of Pakistan-China Center is also included in the signing.
Besides, Qingdao has been twinned with Faisalabad at the cerenomy, signed by Ambassador Moin-ul-Haque.
At this year’s SCO Expo, various products shining Pakistani features attracted people’s attention. Rosewood furniture, fur coats, scarves, onyx and jade handicrafts, brass and bronze handicrafts, etc. are exhibited in Pakistan Pavilion.
“Pakistan shares China’s vision for an active participation in international cooperation on COVID-19, a win-win strategy for all, promotion of sustainable development, advancing science, technology and innovation, and a global order based on development partnerships, cooperation and collaboration,” Ambassador Moin-ul-Haque said towards the end of the speech.