MoU signing ceremony between Punjab government and China Textile & Apparel Council was held here today for the promotion of cooperation in textile, garments and knitting industry. Under the agreement, Punjab-China Garments Industrial Zone would be set up in Punjab where Chinese investors will establish garments and knitting industries. Punjab Industrial Estate Development and Management Company and China Knitting Industry Association will extend cooperation for the promotion of garments and knitting industry. Secretary Industry Irfan Ali on behalf of Punjab government while representative of China Knitting Industry Association signed the agreement. Chief Minister Muhammad Shahbaz Sharif, Vice President and Secretary General of CNTAC Gao Yong, Assistant President and Chairman China Industrial Association Yang Shibin, other office-bearers, Chairman Planning & Development, Secretaries of Industry, Finance and Information Departments, Vice Chairman Punjab Investment Board and other concerned officials were also present on the occasion.
Speaking on the occasion, Muhammad Shahbaz Sharif said that vast opportunities of investment in garments industry exist in Pakistan. He said that Pakistan and China are reliable friends and this great friendship has stood in every hour of trial. While terming the agreement with Chinese Company as a welcome step, he said that economic relations between both the countries will further strengthen due to establishment of special industrial zone and exports of garments will be increased. He expressed the hope that a number of Chinese and local companies will invest in this special industrial zone. He said that this industrial zone would be a great masterpiece of Pak-China friendship due to which not only economy would be strengthened but thousands of new job opportunities would also be created. The Chief Minister said that with the establishment of industrial zone, Pakistani youth would get an opportunity to benefit from Chinese expertise in textile sector. He said that all possible facilities would be provided to Chinese investors for investment in Pakistan. Shahbaz Sharif disclosed that an investment conference is going to be held in China next month in which a delegation from Punjab will also participate. Replying to media questions, the Chief Minister told that Punjab government would provide land for special industrial zone whereas Chinese companies will make investment in this zone. He said that Punjab government would start work in industrial zone very soon. Shahbaz Sharif said that the agreement for setting up an industrial zone is a welcoming step. Vice President CNTAC Gao Yong said that Pak-China friendship has always stood in test of time. He said that China and Pakistan are strategic partners. He said that we would motivate Chinese companies to invest in special industrial zone in Punjab. He said that this industrial zone will play an important role for further promoting Pak-China friendship.