Pakistan, China sign joint venture deal and MoUs during Zardari visit

BEIJING: Pakistan and China signed a joint venture agreement and two memorandums of understanding covering construction machinery, animal health and medical technology at a ceremony attended by President Asif Ali Zardari, according to a statement issued by the President House on Friday.

The agreements were described as part of efforts to expand practical cooperation in important sectors. The signing took place during President Zardari’s five-day visit to China, which centred on strengthening economic and trade relations, particularly under the China-Pakistan Economic Corridor (CPEC).

Construction and equipment cooperation

One of the MoUs was signed between Al Hassan Trade Establishment, Sany International Development and Hainan Jiaolong International Technology. The understanding relates to cooperation in high-end equipment, manufacturing and construction machinery.

According to the statement, the arrangement is aimed at supporting CPEC-related work, deepening cooperation in the supply of complete construction machinery and equipment, developing a professional talent training system, and providing after-sales operation and maintenance services.

The parties will also examine investment prospects for setting up factories in Pakistan and promoting localised production of construction machinery.

Another MoU was signed by Senator Saleem Mandviwalla, Sany Group Vice President Li Qin and Hainan Jiaolong International Trade Company Chairman Hao Jiaolong.

Animal vaccines and technology transfer

A joint venture agreement was also signed between the Livestock & Fisheries Department of the Government of Sindh and China’s Luoyang Modern Biology Group for the distribution and supply of animal vaccines in Pakistan, including vaccines for Foot-and-Mouth Disease.

The agreement also includes technology exchange and future cooperation on introducing track and traceability systems for animals in Pakistan.

The document was signed by Sindh Senior Minister Sharjeel Inam Memon and Luoyang Modern Biology Group Chairman Wang Shanpu.

Visit focused on broader ties

A documentary on the 75-year friendship between Pakistan and China was screened during the event, highlighting what the statement described as the deep-rooted strategic and cultural relationship between the two countries.

A day earlier, President Zardari attended the commissioning ceremony of the Pakistan Navy’s first Hangor-class submarine, PNS/M Hangor, in Sanya. The submarine was described as being equipped with state-of-the-art weapons.

The Foreign Office said the president’s visit, which began on April 26, included meetings with provincial leadership and a review of the full spectrum of Pakistan-China relations, with particular emphasis on economic and trade cooperation as well as CPEC.

According to the Foreign Office, the visit is part of the longstanding tradition of high-level exchanges between the two countries and carries special significance as Pakistan and China mark the 75th anniversary of diplomatic relations this year.

"The visit forms part of the longstanding tradition of high-level exchanges between Pakistan and China and carries special significance as both countries mark the 75th anniversary of the establishment of diplomatic relations this year", the FO stated.

The Foreign Office further said the trip reflects the "deep commitment" of both sides to further strengthen the strategic cooperative partnership.