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Sunday, September 25, 2011

China, UK pledge support for Pak economic development

WASHINGTON: China and Britain on Saturday expressed their support for Pakistan’s economic development as Finance Minister Abdul Hafeez Sheikh discussed cooperation with leaders of the two countries on the sidelines of IMF-World Bank meetings.
Chinese Finance Minister Xuin Xie reaffirmed close China-Pakistan partnership for development and prosperity of Pakistan.
He assured Dr Sheikh of facilitating Pakistani exports to China through tariff reduction.
The Chinese finance minister also pledged Chinese EXIM Bank’s cooperation in financing projects and asked Islamabad to provide a list of projects it is interested in seeking backing.
The Pakistani and Chinese finance leaders expressed commitment to overall close bilateral relationship.
The finance minister also met with British Secretary of State for International Development Andrew Mitchell, who appreciated Islamabad’s efforts for peace and security in the region.
Andrew Mitchell said Britain was committed to assisting Pakistan in it’s economic development and has pledged $2.16 billion over four years, making it the largest recipient of economic support. “Secretary Mitchell reiterated UK’s support for trade access to world markets and back the country at various international forums, saying Pakistan and UK are one family,” Dr Sheikh said. Dr Sheikh appreciated UK’s help in dealing with flooding catastrophe last year. Mitchell said Britain is watching the flood situation this year to ascertain its response. The finance minister also discussed ways to strengthen economic cooperation with US and Afghan officials.
In a meeting with Mathew J Spence, special assistant to the US president and senior director for International Economics, the two officials discussed and reviewed bilateral economic cooperation. According to the officials, Pakistan’s economic performance of last year including strong external sector growth like increase in exports and remittances, aggressive austerity drive, challenges in the power sector, continuing reforms, trade and regional economic integration also came under discussion at the meeting. Dr Sheikh also discussed ways to further enhance trade and economic relations with his Afghan counterpart Dr Omar Zakhilwal. The two finance ministers agreed that the two-way trade, which has grown substantially in recent years, could be doubled. app

Courtesy www.dailytimes.com.pk

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