Pakistani and Chinese finance ministers have reaffirmed their countries' resolve to further expand and strengthen bilateral economic and trade ties and co-ordinate closely on policies on financial institutions. Finance Minister, Dr Abdul Hafeez Shaikh and his Chinese counterpart, Xie Xuren met here on the sidelines of IMF-World Bank annual meetings.
"China and Pakistan have historic and close ties and we discussed progress towards speedy implementation of agreements and MoUs signed during Chinese Premier Wen Jiabao's visit," Dr Shaikh told APP after the meeting at World Bank office. Both the ministers discussed economic reforms. Chinese finance leader lauded Islamabad for undertaking economic reforms, while Xuren briefed Dr Shaikh on discussions at the recent G-20 meeting.
Hafeez Shaikh said that Pakistan would welcome Chinese investment in the petroleum sector either through new investments or buying stakes in existing enterprises. He held out Islamabad's commitment to facilitate Chinese investment in various sectors of the economy and invited Chinese companies to locate their businesses in the country. The two leaders also discussed currency swap.
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